Press release
4K TV Market Report 2024: Strategies And Recent Developments
4K TV Market
The Business Research Company offers in-depth market insights through 4K TV Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The 4k tv market size has grown exponentially in recent years. It will grow from $229.73 billion in 2023 to $285.28 billion in 2024 at a compound annual growth rate (CAGR) of 24.2%. The growth in the historic period can be attributed to availability of 4k content, consumer demand for high-quality displays, rise in gaming industry, efficient distribution channels, rapid urbanization.
The 4k tv market size is expected to see exponential growth in the next few years. It will grow to $685.86 billion in 2028 at a compound annual growth rate (CAGR) of 24.5%. The growth in the forecast period can be attributed to emerging markets, rising disposable income, emergence of new streaming services, work-from-home trends, growing popularity of uhd set-top boxes. Major trends in the forecast period include oled and qled technology, adoption of hdr technology, smart features, ai and machine learning, energy efficiency.
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Market Segmentation:
The main screen types of 4K TV are below 52 inches, 52-65 inches, and above 65 inches. 4K TVs under 52 inches are used to meet the demand for smaller spaces and are ideal for a small bedroom. The technologies involved are LCD, IPS, OLED, and quantum dot. The distribution channels are offline stores and online stores. The end-users included are residential, commercial, and industrial.
Major Driver - Elevated Consumer Demand For Uhd Technology Fuels 4K Tv Market Growth
The rising consumer demand for UHD technology devices is expected to propel the growth of the 4K TV market going forward. UHD technology refers to a type of display resolution standard that has at least 3840 by 2160 pixels (8.3 megapixels; 4K). This technology results in very crisp and fine images without compromising on image quality, and this helps manufacturers to make bigger TVs, while the consumer gets a more vivid and detailed picture quality. This is why this technology is used in 4K TVs. For instance, in April 2021, according to Broadband TV News, a UK-based industry information provider, UHD share rose to 75% in the German TV set market. In Q1 of 2021, around 1.45 million TV sets were sold in Germany. 1.1 million were UHD TVs and accounted for 75% of the share. Therefore, the rising consumer demand for UHD technology devices is driving the growth of the 4K TV market.
Competitive Landscape:
Major companies operating in the 4k tv market include Samsung SDI Co. Ltd., Haier Group Corporation, Panasonic Holdings Corporation, Koninklijke Philips N.V, Sharp Corporation, LG Corporation, Sony Group Corporation, Vu Television Corporation, Skyworth Group Co. Ltd., Sichuan Changhong Electric Co. Ltd., TCL Technology, Hitachi Ltd., Apple Inc., Toshiba Corporation, Vizio Inc., Seiki Corporation, Hisense Electrical Co. Ltd., Konka Group Co. Ltd., ASUSTEK Computer Inc., JVC Kenwood Holdings Inc., INNOLUX Corporation, Funai Electric Co. Ltd., Grundig GmbH, Vestel Elektronik Sanayi Ve Ticaret AS, Loewe, Bang & Olufsen AS, Bowers & Wilkins, Dynaudio AS, Elac America Inc., Focal-JMLab Co.
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Top Trend - Innovative Technological Advancements Transform The 4K Tv Market
Technological advancements are a key trend gaining popularity in the 4K TV market. Major companies operating in the 4K TV market are focused on developing new technological solutions to strengthen their position. For instance, in June 2021, TCL, a China-based company that manufactures and sells consumer electronic products, including televisions that provide 4K TV, launched its first new technology-mini LED in its mini LED QLED 4K Android 11 TV C825. The technology behind mini LEDs, however, uses LEDs that are smaller in size as compared to regular LEDs. Due to the small size of LEDs, OEMs can pack more LEDs.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. 4K TV Market Characteristics
3. 4K TV Market Trends And Strategies
4. 4K TV Market - Macro Economic Scenario
5. 4K TV Market Size And Growth
…..
27. 4K TV Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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