The Vietnam television market size is poised for significant growth, driven by increasing consumer demand, advancements in television technologies, and rising disposable income. In 2024, the market reached an estimated value of USD 801.85 million, and it is projected to grow at a CAGR of 5.8% during the forecast period of 2025-2034, reaching approximately USD 1,340.65 million by 2034. 

Market Size and Growth Projections

The Vietnam television market is expanding steadily as consumers increasingly adopt advanced technologies and move toward smart televisions that offer enhanced features. The market size and growth projections highlight a positive trajectory:

• Market Value in 2024: USD 801.85 million
• CAGR (2025-2034): 5.8%
• Projected Market Value in 2034: USD 1,340.65 million

This growth can be attributed to the increasing demand for larger screen sizes, 4K and 8K resolution displays, as well as the growing popularity of smart TVs that integrate with streaming platforms and offer enhanced user experiences.

Key Drivers of Market Growth

Several factors are contributing to the growth of the Vietnam television market:

1. Increasing Adoption of Smart TVs

The shift towards smart televisions is one of the primary drivers of the market. Consumers are increasingly seeking TVs that offer not just traditional programming, but also access to streaming services like Netflix, YouTube, and local streaming platforms. Smart TVs allow for an integrated entertainment experience, offering access to a wide range of apps and services, thus making them highly desirable in today’s connected world. The growing adoption of Internet of Things (IoT) devices and smart home integration also boosts the demand for smart TVs in Vietnam.

2. Rising Disposable Income and Urbanization

As Vietnam’s middle class continues to grow, rising disposable incomes are enabling consumers to upgrade their old televisions to premium models with advanced features. The country’s ongoing urbanization is another factor contributing to increased TV sales, as more urban households are investing in larger, higher-quality televisions to cater to their entertainment needs.

3. Technological Advancements in TV Displays

Advancements in television display technologies, such as OLED (Organic Light Emitting Diodes), QLED (Quantum Dot LED), and Mini-LED have enhanced the viewing experience, contributing to the market’s growth. These innovations provide better picture quality, vibrant colors, and faster refresh rates, making televisions more attractive to consumers seeking high-end entertainment solutions.

4. Availability of Affordable Models

The increase in local television manufacturers and a growing competitive market has made televisions more affordable for the average consumer in Vietnam. As local brands like Viettel, Samsung Vietnam, and LG Vietnam introduce budget-friendly options alongside high-end models, more consumers are upgrading their televisions. This increased availability of affordable models is driving growth in the market.

5. Government Initiatives

The Vietnamese government has also played a role in fostering market growth through initiatives to promote digital television services and the switch from analog to digital broadcasting. As the country moves towards digital broadcasting systems, more consumers are upgrading to digital TVs to enjoy enhanced picture quality and access to a wider variety of content.

Challenges in the Vietnam Television Market

Despite its growth potential, the Vietnam television market faces certain challenges:

1. Price Sensitivity of Consumers

Although the demand for smart TVs and high-end televisions is increasing, price sensitivity remains a significant challenge. Many Vietnamese consumers, particularly in rural areas, are still more inclined to purchase affordable, entry-level models. Manufacturers must strike a balance between offering premium features and maintaining affordable pricing for the broader consumer base.

2. Intense Competition

The television market in Vietnam is highly competitive, with both international and local players fighting for market share. Established brands like Samsung, LG, and Sony are competing with emerging local brands like Viettel and Panasonic, which offer more budget-friendly options. This intense competition means that companies must continuously innovate and differentiate their products to maintain a strong position in the market.

3. Counterfeit and Substandard Products

Another challenge in the Vietnamese television market is the prevalence of counterfeit and low-quality televisions. Some consumers, particularly in rural areas, opt for cheaper models from unbranded manufacturers, which may lack the durability and features of reputable brands. This undermines consumer trust and affects the overall market.

Trends Shaping the Vietnam Television Market

The Vietnam television market is evolving rapidly, driven by several key trends:

1. Shift Towards 4K and 8K TVs

As technology improves, the demand for 4K TVs is on the rise, and 8K resolution is expected to become more mainstream over the next decade. These ultra-high-definition televisions offer superior picture quality, and consumers are increasingly opting for large-screen 4K TVs to enjoy better viewing experiences. As 4K content becomes more widely available across streaming platforms, the demand for 4K TVs will continue to grow.

2. Integration of Voice Control and AI

Consumers are looking for more intuitive, hands-free entertainment experiences, which has led to the integration of voice control and artificial intelligence (AI) in many modern TVs. Features such as Google Assistant, Amazon Alexa, and AI-powered content recommendations are becoming increasingly popular in smart TVs. These features allow users to control their TVs more easily and make entertainment decisions based on personalized suggestions.

3. Growth of OTT (Over-The-Top) Content Consumption

With the rise of OTT platforms such as Netflix, Hulu, and local Vietnamese platforms, consumers are shifting away from traditional television programming in favor of streaming services. As this trend grows, television manufacturers are focusing on building smart TVs that are compatible with these platforms, offering better integration and a seamless viewing experience for users.

4. Enhanced User Experience with HDR and Dolby Vision

High Dynamic Range (HDR) and Dolby Vision technologies are becoming increasingly popular in the Vietnam television market. These technologies enhance brightness, contrast, and color, creating an immersive viewing experience. As more consumers demand high-quality content, the use of HDR and Dolby Vision is expected to increase across premium television models.

5. Growing Demand for Large Screen Sizes

There is a growing trend toward larger screen sizes in the Vietnamese television market, especially in urban areas. As consumers seek cinematic experiences at home, larger televisions, particularly 55 inches and above, are becoming more popular. This trend is driven by the growing interest in home entertainment systems, gaming, and sports viewing.

Segmentation of the Vietnam Television Market

The Vietnam television market is segmented based on type, screen size, technology, and price range:

By Type:

• Flat Panel TVs
• Curved TVs
• OLED/LED/LCD TVs
• Smart TVs
• 4K/8K TVs

By Screen Size:

• Under 32 inches
• 32 to 55 inches
• Above 55 inches

By Technology:

• LED
• OLED
• QLED
• LCD
• Plasma

By Price Range:

• Low-End
• Mid-Range
• Premium

Major Competitors in the Vietnam Television Market

The Vietnam television market is competitive, with both global giants and local players battling for dominance. Some of the key competitors include:

• Samsung Electronics
• LG Electronics
• Sony Corporation
• Panasonic Corporation
• Viettel Group
• TCL Corporation
• Hisense
• Sharp Corporation

These players are continuously innovating with advanced technologies, affordable pricing, and local content integration to meet the growing demand for high-quality televisions in Vietnam.