Market Research Future published a research report on “Global 4K TV Market Research Report- Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
4K TV is basically ultra HD with a resolution of 3,840 x 2,160 pixels which is four times of full HD television. The extra resolution of 4K technology images gives better definition and clarity of pictures. Also, 4K technology is used in big screens. Features such as increased pixel density, high resolutions and better picture quality are boosting the growth of the 4K television market.
Factors such as increasing disposable income, changing lifestyle and increasing demand for consumer electronics are driving the growth of the market. Whereas, high cost and initial investments are hampering the growth of the 4K television market.
The global 4K TV Market is expected to reach approximately USD 50 billion by the end of 2023 with 24% CAGR during forecast period 2018-2023.
The key players in the global 4K Television Market include- Sony Corporation (Japan), Videocon Industries Limited (India), TTE Technology, Inc (China), LG Display (South Korea), Samsung Electronics Co. Ltd (South Korea), Haier Inc. (China), Sharp Corporation(Japan), Panasonic Corporation (Japan), Skyworth Electronics Pvt Ltd (China), Toshiba Corporation (Japan), among others.
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4K TV Market
According to Market Research Future, market has been segmented into type, end-users and region.
On the basis of end-users, the market has been segmented into household and public. Out of these, household accounted for the largest market share majorly due to better standard of living, increasing disposable income and increasing consumer awareness.
Market Research Future Analysis
The global 4K television market is expected to grow significantly over the forecast period, 2018-2023. Household segment of 4K television market globally drives the market majorly due to increasing demand for more than 55 inches television in the Asian countries. The market is expected to have higher growth rate as compared to the previous years.
Asia-Pacific region accounted for the largest market share because of technological advancements, increasing e-commerce, manufacturing hub, emerging nations and increasing consumer demand for ultra HD televisions. The sales in Asia-Pacific region has grown over the last few years, majorly from countries such as Singapore, Hong Kong, Vietnam and Korea. The region is attributed to increasing number of subscribers, biggest exporters of 4k TV and digital transformation.
However, the North-American region is expected to grow at a fast pace over the forecast period, 2018-2023. The region is attributed to the growth in digitalization.
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