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According to a new market research report, "Global Smart TV Market", published by MarketsandMarkets (http://www.marketsandmarkets.com), the total smart TV market is expected to reach $265 billion by 2016, at a CAGR of 17% and the unit shipment is expected to reach 153.2 million by 2016 from 64 million in 2011, at an estimated CAGR of 19%.
Like a smart phone, a smart TV offers a number of "Internet-connected services" that normal televisions cannot offer. It has the equivalent of a computer built into it, giving a greater number of services. Smart TV generally refers to service concepts involving the transmission of video content to a TV set via internet.
Smart TV provides complete home entertainment to the consumer. It has everything that we imagine on Television. This can be said as an extended or the upgraded version of the smart phone. The applications which were earlier developed for smart phones now looking their market in smart TV category. Android which is a big player in the smart phone industry now getting a good exposure to the smart TV market, the only difference we can notice is, smart phone is to be use by an individual and smart TV is to be used by a large audience say family.
Smart TV has a vast value chain. There are lots of players or component which adding value to the smart TV industry. Each component has its own value and how it contributes towards the value addition to the value chain. Key components of value chain are content creators, aggregators, distributors, integrators, and end-users.
The overall smart TV market [ http://www.marketsandmarkets.com/Market-Reports/smart-tv-market-455.html ] was worth $86 billion in 2010 and is expected to reach $265 billion by the end of 2016 with a CAGR of 17%. In terms of unit shipment, smart TV was valued at 43.6 million units in 2010 and is expected to reach 64 million by the end of 2011 with an annual growth of 47%. By 2016, smart TV unit shipment is expected to reach 153.2 million units with a CAGR of 19%.