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4K TVs (Televisions) Market 2022 Size and Share: Covid-19 Impact Analysis by Sales Revenue, Future Demands, Growth Factors and Drivers, Emerging Trends, Competitive Landscape and Forecast to 2031

Kenneth Research, in its repository of market research reports, have recently added a report on 4K TVs (Televisions) Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022-2031. The 4K TVs (Televisions) Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for 4K TVs (Televisions) Market products.

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According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017. On the other hand, growing awareness amongst individuals for using the internet is also anticipated to contribute to the market growth. For instance, the total number of individuals using the internet grew from 8% of total population in 2001 to 49% of total population in 2017.

4K television is an ultra-high definition (UHD) television. 4K TV’s have a resolution of 3,840 pixels* 2,160 lines (8.3 megapixels, aspect ratio 16:9). This 4K resolution is four times the resolution of full HD. 4K televisions provide a wider range of colors and pictures appears are more vibrant.

Market Size and Forecast

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. 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.

Furthermore, Middle East and Africa is also expected to witness a tremendous growth over the forecast period owing to rising popularity of ultra-high definition televisions in this region.

“The Final Report will cover the impact analysis of COVID-19 on this industry (Global and Regional Market).”

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Key players

The major key players for 4K TV’s market are as follows

Samsung
LG Electronics
Sony Corporation
Hisense
Sharp Corporation
Philips
Panasonic
Vizio
Toshiba Corporation
TCL

“The Final Report will cover the impact analysis of COVID-19 on this industry (Global and Regional Market).”

Market Segmentation

Our in-depth analysis segmented the global 4K TV’s market in the following segments:

By Screen Size

Below 52 Inches
52 – 65 Inches
Above 65 inches
By Technology

Organic Light Emitting Diode (OLED)
Light Emitting Diode (LED)
By Screen Type

Flat Screen
Curved Screen
By Distribution Channel

Online Store
Offline Store
By Price Range

Premium
Mid
Low
End-users

Residential
Commercial
By Region

Global 4K TV’s market is further classified on the basis of region as follows:

North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis

“The Final Report will cover the impact analysis of COVID-19 on this industry (Global and Regional Market).”

Download Sample of This Strategic Report-https://www.kennethresearch.com/customization-request-10075569

Growth Drivers and Challenges

Factors such as advancement in graphic technology in television and growing demand for high end electronics are believed to be the dynamic factor behind the rapid growth of 4K TV’s market across the globe. Further, huge investment by industry players in technology advancements is envisioned to bolster the growth of 4K TV’s market by the end of 2024.

Moreover, popularity of the ultra-high definition televisions and increasing purchasing power of the consumers are the major factor propelling the growth of 4K TV’s market. Likely, growing demand for 4K television for better picture quality and increased penetration of UHD set top boxes are projected to boost the demand for 4K TV’s. Swelled disposable income of the population across the globe supported by the positive GDP figures in growing nations is supporting the penetration of consumer electronics.

However, high cost associated with the 4K television is anticipated to hinder the growth of 4K TV’s market over the forecast period.

“The Final Report will cover the impact analysis of COVID-19 on this industry (Global and Regional Market).”

Download Sample of This Strategic Report-https://www.kennethresearch.com/customization-request-10075569

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Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defense, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.
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