The global 4K TVs market is projected to grow at astonishing CAGR during the forecast period (2018 to 2025), according to a report available on Radiant Insights, Inc. Growing requirement for television (TV) that can support ultra-high resolution (UHD) videos is anticipated to propel demand for 4K TVs. 4K TVs are likely to offer UHD of 3840*2160 pixels. Such resolution is four times the resolution of 1920*1080, which can be found in full high definition (FHD) televisions available in the market. Introduction of UHD technology in TVs is expected to offer higher pixel density along with clearer and defined picture.
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Rising demand for ultra-high definition TVs among consumers to avail immersive visual experience is expected to influence growth of market. Reducing price of 4K TVs attributed to pressure exerted by retailers on manufacturing companies can also fuel product demand in the forthcoming years. Increasing investments in UHD technology by content producers and television broadcasters to offer sufficient content compatible with 4K TVs can further stimulate market growth during the forecast period (2018 to 2025).
To cater to rising demand for advanced 4K TVs, most companies are focusing on R&D activities to design innovative TVs offering better features to consumers. For instance, Hisense recently introduced its new television named H9E Plus 4K TVs in two different models. According to the company, 55-inch model (55H9100E Plus) is expected to be affordable in comparison to 65-inch model. Both models are estimated to be available for purchase in United States. These 4K enabled TVs are likely to be equipped with Android TV as main interface and Google assistant. It can also sync flawlessly with Google home to help users personalize their entertainment.
In another instance, Nikai recently launched its 86 inch 4K UHD light emitting diode (LED) TV. It is expected to be loaded with android operating system offering features such as e-share and air play that can allow users to stream videos and other media on big screen directly from smartphones or tablets. In addition, this TV can also offer digital video broadcasting making it capable of receiving local TV channels transmitted over radio waves. Moreover, it can also offer inbuilt applications such as Facebook, Skype, YouTube, and Twitter.
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The 4K TVs market can be segregated on the basis of product, end-user, and region. Based on product, the market can be segregated on the basis of 55 inch, 65 inch, and others. Based on end users, the market can be classified into commercial and residential.
Regional segmentation includes Asia Pacific, Europe, North America, South America, and Middle East & Africa. In Asia Pacific, the market is anticipated to grow at substantial CAGR attributed to high demand for 4K TVs in developing countries such as China and Japan, and India. Increasing disposable income coupled with rising demand for consumer electronics is likely to surge product demand in the region. In addition, growing competition among 4K television vendors can further influence growth of market.
Similarly, in North America, the market is anticipated to witness significant growth during the forecast period attributed to early adoption of 4K technology in televisions. In addition, increasing adoption of 4K set-up boxes allowing consumers to exploit full capability of 4K TVs in terms of picture quality can augment market growth. Moreover, declining prices of 4K TVs can also fuel growth of market in the region.
In Europe, the market is expected to grow well during the forecast period owing to rising demand for 4K TVs in countries such as Germany and United Kingdom. Proliferation of TVs supporting high dynamic range (HDR) technology is likely to drive market growth in the forthcoming years.
Some of the leading companies offering 4K TVs are LG Electronics, Sony Corporation, Philips, Haier, and Panasonic.
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