Global 4K TV’s market is expected to register a CAGR of 18.1% over the forecast period. Moreover, the global 4K TV’s market is projected to expand at exponential rate during the forecast period i.e. 2017-2024. The market is expected to expand on the back of growing demand for better picture quality.
The light emitting diode (LED) segment by technology is expected to post a significant CAGR by 2024. In terms of regional platform, Asia-Pacific region captured the largest market of 4K TV’s in terms of revenue in 2016. Additionally, China has been the major contributor in the growth of 4K TV’s market in Asia-Pacific region due to mass availability of 4K TV’s in the country. North America stood at the second position in the 4K TV’s market in 2016 aided by U.S.
Technological advancement in television
Evolution of consumer electronic goods along with rising demand for innovative products is believed to intensify the demand for 4K TV’s across the globe. Moreover, increasing research and development activities to develop advance graphics that enables better viewing experience is also boosting the demand for 4K TV’s. These factors are anticipated to flourish the growth of 4K TV’s market in near future.
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Rising purchasing power
Rapid urbanization coupled with positive GDP figures have led the consumers to spend more on advance technology and growing popularity of 4K resolution among the consumers are bolstering the growth of 4K TV’s market. Furthermore, rising disposable income coupled with changing lifestyle of consumer is also projected to positively impact the growth of 4K TV’s market across the globe.
On the contrary, high cost associated with organic light emitting diode (OLED) television is expected to hamper the growth of 4K TV’s market over the forecast period. Moreover, low adoption rate of innovative technology in underdeveloped nations is also dampening the growth the growth of 4K TV’s market.
The report titled “4K TV’s Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global 4K TV’s market in terms of market segmentation by screen size, by technology, by screen type, by distribution channel, by price range, by end-users and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global 4K TV’s market which includes company profiling of Samsung, LG Electronics, Sony Corporation, Hisense, Sharp Corporation, Philips, Panasonic, Vizio, Toshiba Corporation and TCL. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global 4K TV’s market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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