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Televisions Market Outlook 2024 : Expected Market Growth Rate, Major Driver And Segments | Samsung Electronics Co. Ltd., LG Electronics Inc., Sony Corporation, Hisense Group Co. Ltd.
Televisions Global Market Report 2024
As per the report, the televisions market size has grown steadily in recent years. It will grow from $87.97 billion in 2023 to $91.48 billion in 2024 at a compound annual growth rate (CAGR) of 4.0%. The televisions market size is expected to see steady growth in the next few years. It will grow to $104.34 billion in 2028 at a compound annual growth rate (CAGR) of 3.3%.
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Growing Disposable Incomes Drive Television Market Expansion In Emerging Economies
The rise in disposable incomes was a major driver of the televisions market. The rise in disposable incomes was mainly driven by economic growth and middle-class population growth in developing countries such as China, India and Brazil. According to the World bank, the per capita net disposal income of lower middle-income countries was in between $1,036 and $4,045 and per capita net disposal income of upper middle-income countries was in between $4,046 and $12,535 in 2021. Increased earnings and increased disposable incomes in the emerging markets, contributing to the televisions market growth.
Rapid Adoption Of Ultra Hd Televisions Driven By Energy Efficiency And Quality
The demand for Ultra HD televisions is increasing rapidly, as they are energy efficient and offer high quality images. Ultra HD televisions include 4K and 8K UHDs that have an aspect ratio of 16:9 or wider, and also present a minimum resolution of 3840x2160 pixels. The transition from traditional CRT and LCD TVs to ultra-HD TVs has been fast owing to brisk pace in technological advances. For instance, in In July 2023, according to screen media , a US-based media company, TV replacement cycle boosts smart TV penetration to 74% and 38% of smart TV homes cast another device's screen to the television.
The televisions market covered in this report is segmented -
1) By Product Type: Smart, Traditional
2) By Technology: LCD, LED, OLED, QLED
3) By Screen Size: Below 32 Inches, 32 to 45 Inches, 46 to 55 Inches, 56 to 65 Inches, Above 65 Inches
4) By End-User: Residential, Commercial , Other End-Users
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Major companies operating in the televisions market include Samsung Electronics Co. Ltd., LG Electronics Inc., Sony Corporation, Hisense Group Co. Ltd., TCL Corporation, Koninklijke Philips N.V., Vizio Inc., Toshiba Corporation, Skyworth Group, RCA Corporation, Magnavox, Sharp Corporation, JVC (Victor Company of Japan Limited), Polaroid/Sceptre, Fujitsu Limited, Sansui Electric Co. Ltd., Onida, Xiaomi Corporation, Micromax Informatics Limited, Haier Group Corporation, Hitachi Ltd., Lloyd Electric & Engineering Ltd., Panasonic Corporation, Funai Electric Co. Ltd., Changhong Electric Co. Ltd., Konka Group Co. Ltd., Seiki Digital Inc., Element Electronics Corporation, Westinghouse Electric Corporation, Mitsubishi Electric Corporation, NEC Corporation, Videocon Industries Limited, Intex Technologies (India) Ltd., Akai Electric Co. Ltd.
Contents of the report:
1. Executive Summary
2. Televisions Market Report Structure
3. Televisions Market Trends And Strategies
4. Televisions Market - Macro Economic Scenario
5. Televisions Market Size And Growth
…..
27. Televisions Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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