August 5 2020
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.
Over the years, television technology has witnessed a notable shift towards ultra-high-resolution viewing experience. Need for overhauls in audio visual broadcasting has impacted the television or display technologies largely. 4K is one of the updated television technologies that has introduced the next level of audio-visual entertainment. 4K is one of two high definition resolutions, either 4096 x 2160 pixels or 3840 x 2160 pixels. 4K is four times the pixel resolution, or twice the line resolution (2160p), of 1080p (1920 x 1080 pixels). 4K finds wide application in commercial digital cinema. The use of 4K is based on the concept of large display. Larger TV screen and video projectors provide less pixel visible images than 1080p along with much more detailed images. 1080p extends great visibility up to almost 65-inches and can appear at its best in larger screen sizes. 4K can deliver extremely better-looking image with the expansion of the screen size.
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4K televisions come with improved display quality, finer details, and smoothened images which is why their popularity is rising among consumers at an increasing pace. 4K displays are also used in aerospace and medical applications. With the rising adoption of Netflix as a popular means of entertainment and its endeavors to integrate 4K into better functioning of Netflix, a significant portion of the global population has started to adopt to 4K. This trend is impacting the growth of the 4K TV market considerably.
The latest report published by Market Research Future (MRFR) states that the global 4K TV Market will increase at a CAGR of 24% over the assessment period of 2017 to 2023.
The market is likely to generate an approximate revenue of USD 50 Bn throughout the forecast period. Moreover, players like Sony and Samsung have designed TVs that come with external hard drives having pre-loaded 4K content. Sony has also initiated Video Unlimited service which offers 4K video. YouTube is also extending 4K viewing experience in selected videos that will be accessible through 4K TVs. Filmmakers are rapidly shifting to 4K technology to deliver better viewing experience to its audience. Introduction of easy-to-use 4K handicams and camcorders allows the broadcasters to record 4K quality images without further complications. However, the high cost of 4K tv is expected to limit the market growth to a certain extent.
The key players in the global 4K TV 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.
Geographically, the global 4K TV market is segmented into Europe, North America, Asia-Pacific, and the rest of the world. In 2017, Asia Pacific held the largest share of the global 4K TV market. The market is expected to reflect consistent growth over the review period. Factors like increasing population, rising per capita income, presence of leading TV manufacturers, and the entry of new players into the market, can be held responsible for driving consistent demand for the 4K TV industry. The APAC market is followed by the North America market. North America is expected to witness a surged market size for 4K television as it is one of the key importers of 4K TVs globally.
Market Research Future has stated in its report that the global 4K TV Market is segmented based on end users, region, and product type. Based on end-user, the market is segmented into household and public. Based on type, the market is segmented into 65 Inch, 55 Inch and <55 Inch.
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TABLE OF CONTENTS
LIST OF FIGURES
Figure 1 Research Methodology
Figure 2 4k Tv Market, By Type (%)
Figure 3 4k Tv Market, By End-Users (%)
Figure 4 4k Tv Market, By Regions (%)
Figure 5 North America 4k Tv Market, By Type (%)
Figure 6 North America 4k Tv Market, By End-Users (%)
Figure 7 Europe 4k Tv Market, By Type (%)
Figure 8 Europe 4k Tv Market, By End-Users (%)
Figure 9 Asia-Pacific 4k Tv Market, By Type (%)
Figure 10 Asia-Pacific 4k Tv Market, By End-Users (%)
Figure 11 Rest Of The World 4k Tv Market, By Type (%)
Figure 12 Rest Of The World 4k Tv Market, By End-Users (%)
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