UHD/4K Panel Market Size in OLED Technology is Expected to Grow At A Substantial Rate by 2024 |AUO, BOE Technology Group Co., Ltd., Hisense Group, Philips, LG Display, Panasonic, Samsung Electronics, Sony Electronics, Toshiba

OLED technology leads the UHD/4K Panel market size owing to the rising integration of these equipment in mobile phones and tablets. LCD segment is anticipated to hit approximately USD 18 billion by 2024. Use of light modulating properties and low power consumption is likely to propel the LCD technology demand in the forecast time frame.

Televisions are dominating the UHD/4K panel market size owing to the surging use of these high-resolution devices in television. The increasing demand can be attributed to the excellent picture quality to enhance consumer viewing experience. Additionally, digital display screens are expected to witness a rapid growth over the projected timeline. Growth in this segment stems from the growing demand for signage publishing and advertising coupled with the extensive use of UHD displays in digital applications including cinema complexes, music, and sports events.

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The major manufacturers covered in this report: -

1. AUO
2. BOE Technology Group Co., Ltd.
3. Hisense Group
4. Innolux
5. Philips
6. LG Display
7. Panasonic
8. Qingdao Haier Co., Ltd.
9. Samsung Electronics
10. Sharp Electronics Corporation USA
11. Sony Electronics
12. Toshiba

The consumer electronics sector is soaring with the growing popularity of UHD TVs. The UHD/4K panel market has already generated a heavy momentum in this space with the development of next generation TVs. Ultra HDTV has gradually emerged from a techie’s dream to consumer reality in the recent past. This UHD technology is unlocking transformative, awe-inspiring, and enhanced viewing experience with a minimum resolution of 3840 x 2160 pixels. 4K resolution provides around 8 million pixels and is called so as a result of the images being about 4,000 pixels wide.

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The increasing number of platforms offering higher resolution of HD content will further expand UHD panel industry growth. Moreover, government initiatives to minimize custom duties particularly in India and China and the dropping prices of 4K panels will stimulate UHD/4K panel market over the coming years. UHD/4K panel market is estimated to grow at a rate of 11% over the period of 2016-2024.

Asia Pacific accounts for the largest market for UHD/4K Panel technology and is expected to grow rapidly at 11.6% CAGR by 2024. The main driving force for this region would be the presence of a large number of OEM manufacturers. North America UHD/4K panel market which is dominated by the U.S. is expected to generate the revenue of over USD 19 billion by 2024. The major factors driving the industry growth in this region are early technology adoption and huge consumer base.

Early deployment of this technology is likely to show tremendous growth prospects for future trends in UHD/4K panel market. Heavy investments in research and development will send strong undercurrents for the future of consumer electronics. Developments in this area are really going to be interesting to watch over, in the next couple of years.

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