Sep 24, 2020 9:45 AM ET
iCrowd Newswire – Sep 24, 2020
Zion Market Research has published a new report titled “4K Television Market by display technology (LCD, OLED), By Application (Residential, commercial, industrial)-Global Industry Perspective, Comprehensive Analysis, and Forecast, 2019 – 2026.” According to the report, the market for the 4K television market was valued USD 70.8 Billion in 2019 and is expected to reach around USD 283.2 Billion by 2026, at a CAGR approximately 21.9 % for the forecast period from 2020 to 2026.
4K televisions are basically the advanced version of full HD and Ultra HD televisions that supports HD stream of contents. It is a TV resolution of 3,840 x 2,160 pixels which is four times than a full HD television. Also, it has a higher pixel density that gives a clearer, better picture.
The market for 4K televisions is anticipated to witness growth in the anticipated period. The growing demand and adoption of streaming services for entertainment are driving the growth of the 4K television market. Also, the high use of the internet and their growing content on streaming platforms help them to catch pace with TV cable platforms. Furthermore, the demand for high definition players like Blu-ray players is driving the growth of the 4K television market. Moreover, the increase in demand for using high definition cameras for shooting by the filmmakers to give the audience a better and real-life experience is expected to boost the market of 4K television. Furthermore, the increase in the adoption of novel technologies like super UHD and quantum dot LEDs can increase the demand for the forecast period. However, the high cost for this can hamper the market. Also, it will require heavy investment for content creation and broadcasting which can be a major restraining factor for the 4K television market.
The market for 4K television is segmented into display technology and application. On the basis of display technology, it is further bifurcated into LCD and OLED. LED’s are anticipated to have substantial growth in the forecast timeframe. LED tv uses light-emitting diodes to display and not the cold cathode fluorescent lights and it consumes less power as compared to the LCD’s and also because of the excellent quality it is expected to boost the market growth in the long run. Also, on the basis of application, the 4K television market is classified as Residential, commercial, industrial.
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On the basis of region, Asia Pacific is expected to have a substantial share in the 4K television market during the forecast period. The growth in the region is due to the increase in disposable income, an increase in the demand for consumer electronics products and also quick adoption of new technological changes. Furthermore, higher penetration and low price offer by vendors is expected to boost the 4K television market in Asia-pacific.
Major market players of 4K television market are Sony Corporation, Samsung Electronics Co., Ltd., Hitachi Ltd., Koninklijke Philips N.V., TOSHIBA Electronic Devices & Storage Corporation, TTE Technology, Inc., SCEPTRE Inc., VIZIO, Inc., Hisense USA, SEIKI Corporation, LG Electronics Inc., Panasonic Corporation and Sharp Corporation among others.
The report segments the 4K television market as follows:
Global 4K Television Market: Display Technology Segment Analysis
Global 4K Television Market: Application Segment Analysis
Global 4K Television Market: Regional Segment Analysis
- North America
- The U.S.
- The UK
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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Keywords: 4K Television Market