Press release
Televisions Market Forecast 2025-2034: Analysing Major Trends, Opportunities, and Growth Drivers
Televisions Market Size
The television industry has experienced a substantial increase in market size in recent years. It is projected to escalate from $166.33 billion in 2024 to $174.8 billion in 2025, with a compound annual growth rate (CAGR) of 5.1%. Factors such as the transition from analog to digital, the advancement in consumer electronics, improvements in content delivery, gaming and console compatibility, and the emergence of new markets have been significant contributors to the historic growth.
The market size of televisions is projected to witness consistent expansion in the forthcoming years, reaching $204.35 billion by 2029, reflecting a Compound Annual Growth Rate (CAGR) of 4.0%. Factors bolstering this projected growth within the forecast period include advancements in 8k and beyond resolution, smart TV technologies, immersive innovations, eco-friendly and sustainable TV productions, and the rise of home office and productivity. Significant trends predicted for the forecast period encompass OLED and MicroLED display technologies, bezel-less and frameless designs, development of TV as art, introduction of curved and foldable displays, and the integration of content.
What Key Elements Are Boosting Growth in the Televisions Market?
The television market saw a marked increase mainly powered by the rise in disposable income. Economic growth and the surge in the middle-class population in burgeoning economies like China, India, and Brazil contributed significantly to this rise. For example, in a report unveiled by the Office for National Statistics, a UK governmental department for official statistics in September 2024, it was noted that the UK's gross disposable household income (GDHI) saw a 6.3% growth in 2022 compared to 2021. This increase in earnings and disposable incomes in developing markets had a crucial impact on the development of the television market.
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Who Are the Major Industry Players Fueling Televisions Market Expansion?
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.
Which Key Developments Are Influencing the Televisions Market?
The interest in Ultra HD televisions is experiencing a rapid surge due to their energy-saving features and superior picture quality. These TVs encompass 4K and 8K UHDs, packing an aspect ratio of 16:9 or beyond, and boasting a baseline resolution of 3840x2160 pixels. The migration from conventional CRT and LCD TVs to ultra-HD TVs is swift in response to the rapid progression in technology. For example, Screen Media, a US-based media enterprise, reported that the TV replacement cycle in July 2023 fostered the infiltration of smart TVs by 74%, and 38% of smart TV homes redirected the display from another device to the television.
How Is the Segmentation of the Televisions Market Defined?
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
Subsegments:
1) By Smart: LED Smart TVs, OLED Smart TVs, QLED Smart TVs, 4K And 8K Smart TVs, Android TV, Roku TV, And Other OS-based Smart TVs
2) By Traditional TVs: LED TVs (non-smart), LCD TVs, Plasma TVs
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What Is the Leading Region in the Televisions Market?
Asia-Pacific was the largest region in the television market in 20232. North America was the second-largest region in the television market. The regions covered in the televisions market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
What Is Covered In The Televisions Global Market Report?
- Market Size Analysis: Analyze the Televisions Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Televisions Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Televisions Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Televisions Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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