Press release
4K TV Market Growth, Size, Key Drivers, Forecast To 2033
4K TV Market
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.
Market Overview -
4K TVs refer to a TV set that has a 4K resolution, that is, it has 3,840 horizontal pixels and 2,160 vertical pixels. With the help of this 4K TV set, we get a more vivid and detailed picture quality. It is used to provide a pristine picture that fills more of the field of view, better recreating the immersive experience of watching a film at the cinema.
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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.
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.
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Key Segments -
The 4k tv market covered in this report is segmented -
1) By Screen Size: Below 52 inches, 52 - 65 inches, Above 65 inches
2) By Technology: LCD/IPS, OLED, Quantum Dot
3) By Distribution Channel: Offline Stores, Online Stores
4) By End-User: Residential, Commercial, Industrial
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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