Global 4K TV Market is expected to garner USD 76.2 billion by 2024 with By Major Vendors: Samsung, LG, VU Technologies PVT. Ltd., Sharp Corporation, Sony Corporation

Global 4K TV industry valued approximately USD 76.2 billion in 2016. Increased production of ultra-high definition media content has spurred the sales for 4K TVs over the last three years. further, increased spending in consumer electronic sector along with the ongoing development of 4K streaming devices and technologies are also likely to fuel the demand over the forecast period.

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Ultra-High Definition (UHD) televisions exhibit crystal clear and sharp viewing experience owing to which these televisions are likely to adopt in various upcoming applications such as telemedicine, telepresence, and monitoring in military defense. The market has been broadly segmented into different screen sizes and geography. Each of the segment is further divided as follows:

Screen Sizes:
Below 52 inches
52 to 65 inches
Above 65 inches

Regions:
North America
U.S.
Canada
Europe
UK
Germany
France
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World

Televisions from size 52 to 65 inches accounted for approximately 40% of the total market share in 2016. However, above 65 inches TVs are likely to witness the highest growth over the forecast period. This growth is attributed to the rapid development of giant commercial places which requires such immersive displays for better viewing and advertising purposes. Additionally, increasing disposable income along with declining price trend of UHD TVs are also likely to positively impact the demand for above 65 inches televisions over the coming eight years.

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The UHD TV industry is largely dominated by Asia Pacific region followed by North America. Asian countries such as China and Japan are some of the biggest consumers of Ultra-High Definition televisions. The market in China alone is accounted for the more than USD 20 Billion in 2016. The presence of huge manufacturing plants of key manufacturers coupled with low prices of UHD TVs is the major reason behind the huge sales of Ultra-High Definition TVs in the country. Furthermore, North America is expected to witness a highest compound annual growth over the forecast period. Rising adoption of UHD set-top boxes, increasing consumer spending and rapid industrialization are the major reasons behind the significant growth in sales of 4K TVs in the region.

Some of the major companies involved in the manufacturing and distribution of UHD TVs are; Samsung, LG, VU Technologies PVT. Ltd., Sharp Corporation, Sony Corporation among others. The global UHD TV market is highly consolidated among the top 5 key companies. These companies offer a wide range of 4K televisions with different features in order to increase their sales. They are also trying to offer 4K TVs with cutting-edge technologies such as OLED and QLED for the immersive viewing experience.
 

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