UHD/4K Panel Market Will Grow at a Healthy CAGR by 2024 Profiling AUO, BOE Technology Group Co., Ltd., Hisense Group, Philips, LG Display, Panasonic, Samsung Electronics, Sharp Electronics Corporation USA, Sony Electronics, Toshiba

Asia Pacific UHD/4K Panel Market share is projected to grow faster than the global average in the coming years. The growth in the region can be credited to the existence of a large number of OEM manufacturers across the region. Rising customer awareness accompanied by the swift acceptance of advanced technology will prove beneficial for the North American industry.

Major industry players include AUO, BOE Technology Group Co., Ltd., Hisense Group, Innolux, Philips, LG Display, Panasonic, Qingdao Haier Co., Ltd., Samsung Electronics, Sharp Electronics Corporation USA, Sony Electronics, Toshiba. Companies are anticipated to focus on enhancing product portfolio and innovation initiatives in order to gain traction.

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The global UHD/4K Panel Market size is poised for growth owing to the growing demand for these displays from numerous sectors such as hospitality & retail, corporate, commercial government, and sports venues. Features such as high resolution as well as superior color fidelity, are expected to propel growth over the next eight years. Rising integration of these systems into numerous consumer electronic devices, such as digital cameras, smartphones, televisions, and personal computers, is expected to boost demand through 2024.

Rapid technological advancements are likely to result in the incorporation of several value-added features in these components. Furthermore, the advent of economical products may offer 4K panel market with potential growth avenues over the forecast timeline.

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Surging adoption across various sectors, such as advertising and publishing & signage, is predicted to catalyze the industry demand. Escalating product implementation in digital applications, such as sports, music events, and cinema complexes, is expected to favorably impact 4K panel market size over the forecast period. However, high costs associated with these are likely to motivate consumers for opting substitutes, such as LEDs and LCDs, and is predicted to hamper growth over the forecast timeline.

LED/OLED segment is forecast to account for over 45% of the overall industry shipments by 2024 and is estimated to grow at a CAGR of 8.8% from 2016 to 2024. The growth in this segment can be attributed to the increasing integration of these devices into mobile phones as well as tablets.

Television application segment is estimated to grow at over 8.5% CAGR in terms of volume from 2016 to 2024. The growth in the segment can be dedicated to the rising use of these products in television systems. Furthermore, the growing demand for superior picture quality to enhance the customer viewing experience is expected to catapult 4K panel market size through 2024.

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The digital display screen application segment in anticipated to grow at 11.7% CAGR from 2016 to 2024. The widespread implementation of digital applications in sports events, cinema complexes, and music concerts is expected to drive revenue over the forecast timeframe.

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