Recent report published by research nester titled”4K TV’s Market: Global Demand Analysis & Opportunity Outlook 2024″delivers detailed overview of the 4K TV’s market in terms of market segmentation by screen size, technology, screen type, distribution channel, 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.
The global 4K TV’s market is expected to grow at a CAGR of 18.1% over the forecast period i.e. 2017-2024. The market of 4K TV’s is driven by various factors such as rising adoption of innovative technology and swelled disposable income of the population all across the globe. By geography, with 41% in 2016, Asia-Pacific region accounted for the largest market share followed by North America.
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Asia-Pacific region is anticipated to continue its dominance over the forecast period. This region is most lucrative market across the globe owing to emerging economies such as India and China. Further, product innovation by manufacturers in China and South Korea are fuelling the growth of 4K TV’s in this region. Besides this, rise in per capita income in this region is also envisioned to flourish the growth of 4K TV’s market.
North America stood at second position in revenue terms in 4K TV’s across the globe. Further, North America region is projected to be the fastest growing 4K TV’s market by the end of 2024. Further, evolution of consumer electronic industry and increasing demand for high-end home products are anticipated to foster the demand for 4K TV’s in this region. U.S. is anticipated to capture highest market share in this region over the forecast period. Europe region is the third largest 4K TV’s market owing to growing consumer preference from HD to 4K technology for better imaging. The major countries witnessing the augmented demand for 4K television include Germany, U.K. and France.
North America stood at second position in revenue terms in 4K TV’s across the globe and is projected to be the fastest growing 4K TV’s market by the end of 2024. Owing to rising popularity of ultra- high definition televisions, the Middle East Africa is also expected to witness a tremendous growth over the forecast period.
Advancement in Technology Reflects Significant Opportunities
Enhancement and advances in 4K TV’s with advanced technologies and improved designs are expected to drive the growth of the market in the long run. Factors such as advancement in graphic technology in television and growing demand for high end electronics combined with huge investment by industry players in technology advancements are envisioned to expand the growth of 4K TV’s market by the end of 2024.
This report also provides the existing competitive scenario of some of the key players of the 4K TV’s market which includes company profiling of Samsung, LG Electronics, Sony Corporation, Hisense, Sharp Corporation, Philips, Panasonic, Vizio, Toshiba Corporation and TCL.
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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 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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