What’s Driving the Curved Television Market Trends? Key Companies are LG Electronics, Samsung Electronics, Haier Electronics Group Co., Ltd., Sony, and Sichuan Changhong Electronics

Global Market Insights adds global Curved Television Market report which focuses on the major drivers and restraints for the key players. It also provides analysis of the market share, segmentation, revenue forecasts and geographic regions of the market.

The consumer electronics industry in the Asia Pacific region is growing rapidly, fueling the curved television market development. Improved living standards and high spending capacity due to increased disposable income in China and India are supporting the market growth. The Asian countries are witnessing the presence of several major manufacturing companies, which is a major factor supporting high production capacity and revenue generation.

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The North American and European regions have a high number of customers in the curved television market due to the high spending capacity and demand for technically advanced devices. Technological advancements, such as IoT and smart homes, are leading to a high demand for these devices. The federal government announced high investments in the IoT technology along with smart city projects, supporting the market expansion in the region.

The prominent players operating in the curved television market are LG Electronics, Inc., Samsung Electronics Co., Ltd., Haier Electronics Group Co., Ltd., Sony Corporation, and Sichuan Changhong Electronics Co., Ltd. The industry players have adopted growth & development strategies, such as new product launches & innovations, mergers, acquisitions, partnerships, and collaborations, to gain a competitive advantage and high revenues.

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The main factor hindering the curved television market growth is the high price of TVs. They include components, such as OLED panels, which increase the product manufacturing cost. The complex manufacturing process for producing curved displays requires expensive machinery and skilled labor leading to increased manufacturing cost. The curved viewing angle adds to the geometrical distortion of images. Additionally, it exaggerates the reflection of direct light opposite to television, which is stretched & distorted across a wider area and degrades the image quality when compared with flat displays.

In the curved television market, mid-sized devices are expected to gain high traction owing to their high implementation in the commercial sector. These mid-sized devices are available in screen sizes such as 55 inches and 65 inches. They are installed in commercial spaces such as shopping malls, trade centers, and restaurants. The mid-sized models have gained popularity in the home and commercial segments across the globe due to features such as viewing experience and depth. The availability of smart features, such as smartphone connectivity, internet applications, and games, will lead to a rise in the demand for curved television market products. The utilization of these TVs in the residential & commercial sectors has further led to the market growth. Several malls have created a curved wall display by using these devices, adding up to the aesthetics of the mall.

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For instance, in March 2017, Samsung Electronics Co., Ltd. announced the launch of its 22 more curved TV models globally. In October 2018, Haier Electronics Group Co., Ltd. announced the launch of its new Quantum Dot 4K LED curved television, which delivers perfect color and high dynamic range. The new product launch has aided in strengthening the company’s product portfolio.

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