Market Analysis
The global 4K TV market is predicted to touch USD 50 billion
at a 24% CAGR between 2016- 2022 states the recent Market Research Future
(MRFR) analysis. 4K television is a huge transformation in the TV industry that
provides vibrant colors with good picture quality. Generally, 4K television is
used in live shows and concerts owing to its high picture quality and high
resolution. Ultra high-definition TVs are a merge of 4K resolution, wide color
range, vibrant colors, high dynamic range, and high frame rate. 65 inch, <55
inch, and 55 inch are the different types of 4K TV that have wide applications
in households and public.
Various factors are propelling the global 4K TV
Market. As per the current MRFR report, such factors include the
consumer electronic industry’s evolving nature, advances in graphic engines of
TVs, pressure on manufacturers to cut down prices, the growing popularity of
ultra HD technology coupled with its multiple benefits, and growing demand for
displays in medical equipment such as respirators and ventilators during
COVID-19.
Key Players
Key players profiled in the global 4K television market report
include Panasonic Corporation (Japan), Sony Corporation (Japan), Sharp
Corporation (Japan), Haier Inc. (China), Samsung Electronics Co. Ltd (South
Korea), Toshiba Corporation (Japan), TTE Technology, Inc. (China), and Videocon
Industries Limited (India). Industry players have incorporated several
strategies to stay ahead in the competition and also cater to the consumers
growing needs. These strategies comprise mergers and acquisitions, joint
ventures and collaborations, partnerships, new product launches, to name a
few.
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On the contrary, the high cost of TV sets may hamper the
global 4K TV market growth over the forecast period. Besides, the current
COVID-19 pandemic has adversely impacted the display industry as there has been
a temporary suspension of manufacturing operations across leading manufacturing
hubs resulting in substantial production slowdown. Top manufacturers like LG
Display, Samsung, and Xiaomi, to name a few, have suspended manufacturing
operations in European countries, South Korea, India, & China.
Market Segmentation
The MRFR provides an inclusive segmental analysis of the
global 4K TV industry based on end users and product type.
By type, the 4K TV market is segmented into 65 inch, <55
inch, and 55 inch.
By end user, the 4K TV market is segmented into household and
public.
Regional Analysis
By region, the global 4K TV market report covers the recent
trends and growth opportunities across North America, the Asia Pacific (APAC),
Europe, & the Rest of the World (RoW). Of these, the APAC region will lead
the market over the forecast period. The presence of a huge group of consumers,
the influx of fresh vendors, and the presence of leading television
manufacturers are adding to the global 4K TV market growth in the APAC region.
The US holds the utmost share in the market as it is a leading importer of 4K
television across the globe.
The global 4K TV market in Europe is predicted to have the
second-largest share over the forecast period. Growing demand for 4K technology
is adding to the global 4K TV market growth in the region. France, the UK, and
Germany have the maximum share in the market.
The global 4K TV market in North America is predicted to have
healthy growth over the forecast period. Growing demand for high-end home
products and the evolution of the consumer electronic industry is adding to the
4K TV market growth in this region. Among all, the US has the maximum share in
the market.
The global 4K TV market in the MEA is predicted to have sound
growth over the forecast period for the growing demand for ultra HD televisions
in the region.
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