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Ultra High Definition Panel (4K) Market to Reach US$30,404.6 million by 2020
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Events such as FIFA World Cup 2014 have created opportunities for the leading players of UHD panel market. For instance, in June 2014, the British Broadcasting Corporation (BBC) announced that the FIFA World Cup matches would be broadcasted on Sony UHD TV in the U.K. The UHD content would be shown on selected BBC research and development locations. This is expected to boost the sales of Sony Corporation’s UHD TV. Furthermore, technological advancements such as OLED curved UHD TVs are also expected to contribute to the growth of global UHD panel market. In addition, reduction in the cost of ultra high definition televisions is also expected to create future opportunities for growth of the UHD panel market.
The market is segmented depending on end-user applications, technology used and major geographical markets. Depending on the technology used, the UHD panel market is segmented into liquid-crystal display (LCD) and light-emitting diode (LED). The LCD segment dominated the global UHD panel market in 2013; however, owing to the technological advancements in LED technology, the prices of UHD LED based products have reduced due to which they are witnessing a faster adoption rate. Hence, UHD LED panel segment, by volume is expected to grow at a CAGR of 10.8% over the forecast period and dominate the technology segment in terms of volume by 2020. The end-user application segment includes television, personal computers, smart phones, display screens/walls and others.
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Others category of end-user applications includes products such as digital camera, notebooks and tablets. By end-use application, the television segment dominated the global UHD panel market in 2013 in terms of volume and the trend is expected to continue over the forecast period. Geographically, North America is the biggest market for UHD panels which accounted for more than one third of the global ultra high definition market in 2013. However, Asia-Pacific market is the fastest growing regional market for UHD panels and is forecast to grow at a CAGR of 15.1% from 2014 to 2020.
Some of the major players in the global UHD panel market include Samsung Display, LG Display Co. Ltd., Innolux Corporation, AU Optronics Corporation, Sharp Corporation, Haier Group, Panasonic Corporation, BOE Technology Group Co., Ltd., Koninklijke Philips N.V., Sony Electronics, Inc., Hisense Group Co., Ltd., Changhong Electric Co., Ltd. and Toshiba Corporation. Business expansion and technological advancements are observed as the key strategies adopted by most industry participants in the UHD panel market.
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