The increase in the need to provide affordable televisions globally is one of the major factors driving the growth of the 4K TV market. The rise in production capacities and constant pressure for price reduction exerted by the retailers to decline in Ultra High Definition (UHD) TV prices accelerate the market growth. The technological advancements in television sizes and their resolutions further influence the market. Additionally, the surge in investments, growth in the electronics industry, rise in awareness and change in preference among professional filmmakers positively affect the 4K TV market.
4K TV Market in terms of revenue was estimated to be worth $154.18 billion in 2022 and is poised to reach $920.82 billion by 2030, growing at a CAGR of 24.1% from 2022 to 2030 according to a new report published by The Insight Partners.
4K televisions refer to the evolved versions of the Full High Definition (Full HD) and Ultra High Definitions televisions. This classification of television is widely based on the display resolution. UHD television displays have 3840 x 2160 pixels, and Full HD televisions have a resolution of 1920 x 1080 pixels.
Market penetration worldwide is anticipated to be one of the major factors fostering or accelerating the growth of the global 4K television market. 3.43 billion people were predicted to be internet users worldwide in 2016. Approximately 47% of the entire population is thought to be online. However, several important factors are slowing or stopping the demand for 4K televisions. The high price is the main factor limiting the global 4K TV market. Growing internet bandwidth needed for typical web-enabled TVs is one of the most important problems hurting the market. Significant technical developments, including the widespread use of cutting-edge 8K technology and the advent of extra internet bandwidth in various growing countries in the next years, such as 5G, 4G, and LTE, are also expected to improve opportunities.
The industry's 4K display resolution growth demonstrates how the options available to consumers for display monitors are flexible and changing. There is an increasing demand for computers and new TV displays with 4K resolution because it is anticipated that this technology will enhance or upscale the global television market across a variety of consumers' viewing experiences by providing them with proper and effective video quality that is superior to HD and regular televisions. The improved resolution of its varied 4000-pixel quality drives the need for considerable 4K displays in the global 4K display market.
The premium consumer electronics market for 4K display resolution has grown significantly in developing nations like China, India, and Brazil. The expanding demand for modern, high-end products with high-resolution displays in these nations is anticipated to be fueled by several factors, including the advanced existence of a large market in the TV segment and numerous promotional initiatives by the 4K display resolution industry. The 4K Display Resolution Market is being guided by the increasing integration of basic augmented reality and the latest virtual reality into new mobiles, tablets, and PCs because customers seek high-resolution premium content. Additionally, the growing average size of smartphone screens is satiating the essential demand for the most recent, high-resolution displays, which is anticipated to impact the 4K display industry greatly.
Advancements In The 4K TV Extend Profitable Opportunities to the Market Provides Lucrative Opportunities for 4K TV Market:
The 4K TV market has a lot of space for expansion. Demand is expected to surge as more people replace their outdated HD models with new 4K models, and 4K content becomes more widely available via streaming services, cable, and satellite providers. Due to the development of VR and AR content and game consoles that support 4K gaming, the need for higher resolution displays, such as 4K TVs, will also rise. The industry's 4K display resolution expansion shows how consumers' choices for display monitors are fluid and evolving. Computers and new TV screens with 4K resolution are in greater demand due to expectations that this new technology would upgrade or upgrade the worldwide 4K TV market. There is an increasing demand for computers with new 4K resolution technology, as this new technology is predicted to upgrade or upscale the global television market across numerous consumers' viewing experiences by offering them effective and proper video quality that is better than regular and HD televisions. The 4K TV market companies include Sony, Samsung, LG, Sharp, Panasonic, Philips, Toshiba, Seiki, Hisense, Changhong, TCL, Skyworth, Konka, and Haier. Samsung is the 4K TV market’s leader, followed by LG and Sony in the second and third positions. These companies invest heavily in Research and development to offer consumers technologically advanced, feature-rich, and affordable 4K TVs. The companies also focus on partnerships and collaborations to expand their 4K TV market reach and develop innovative products. The higher defined resolution of varied 4000 pixels acts as its basic and correct quality, driving demand for significant 4K displays worldwide 4K display 4K TV market.
4K TV Market: Segmental Overview
Based on Screen size, in 2021, televisions in the size range 52-65 inches segment began as a dominant category, accounting for more than 47% of the revenue. However, because of the quick development of breakthrough technology such as Super Ultra High Definition (SUHD) and Quantum dot LEDs (QLEDs), the segment above 65 inches is expected to expand the most (SUHD). The 4K TV market is submerged with various televisions at various price levels. Manufacturers are progressively changing their designs to produce 4K televisions. They're spending a lot on Research and development to create powerful graphic engines for an immersive viewing experience.
Based on display technology, the LCD segment held the largest share of xx% in 2022, owing to Long-Lasting No Screen Burn-In, Energy Efficient, Provisions Small and Low-Profile Sizes. The LCD panel consumes less energy and can discarded more safely than a CRT. It can be utilized in battery-powered electronic devices more proficiently than a CRT because of its minimal electrical power consumption.
4K TV Market Analysis: Competitive Landscape and Key Developments
LG Electronics, Inc., Hisense Corporation Limited, Vu Technologies Pvt. Ltd., Sony Corporation, Sharp Corporation, Asus Tek Corporation, Koninklijke Philips N.V., Electronic Corporation, Panasonic Corporation, Innolux Corporation., Hitachi Ltd., TOSHIBA Electronic Devices, TTE Technology, Inc., SCEPTRE Inc., VIZIO, Inc., SEIKI Corporation, Xiaomi, TCL, Philips, Changhong are a few of the key companies operating in the 4K TV market. The 4K TV market leaders focus on new expansion, product launches, diversification, and acquisition strategies, which allow them to access prevailing business opportunities.
In August 2023, Samsung announced India's Crystal Vision 4K TV lineup. The new Smart TV has an inbuilt IoT Hub, and the range boasts multi-voice assistant support, among other features.