4K TV Market Growth Report, Share Analysis & Forecast by 2030

Coverage: 4k TV Market covers analysis By Screen Size (Below 52 Inches, 52 65 Inches, Above 65 inches); End Use (Residential, Commercial) , and Geography (North America, Europe, Asia Pacific, and South and Central America)

  • Report Code : TIPRE00003346
  • Category : Electronics and Semiconductor
  • No. of Pages : 150
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4K TV Market Growth Report, Share Analysis & Forecast by 2030

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[Research Report] The 4K TV market is expected to grow from US$ 154.18 billion in 2022 to US$ 920.82 billion by 2030; it is estimated to grow at a CAGR of 24.1% from 2022 to 2030.

Analyst Perspective:

A crucial trend that is becoming more and more popular in the 4K TV industry is technological advancement. Major 4K TV manufacturers are concentrating on creating new technological solutions to improve their position. For instance, TCL, a Chinese business that designs, develops, and markets consumer electronics goods such as 4K TVs, introduced its first novel technology—the micro-LED—with its small LED QLED 4K Android 11 TV C825 in June 2021. However, the technology behind mini-LEDs uses LEDs that are more compact than standard LEDs. OEMs can mount more LEDs into a given space since LEDs are compact to gain control of the captive TV/monitor OEM market; TCL, a Chinese electronics company that produces consumer goods, including televisions, combined with BOE in November 2020. Both businesses' collective supply chain resources will be optimized due to this combination. A Chinese company, BOE Technology Group Co. Ltd., makes OLED and LCD displays, including 4K TVs.

The sales of LCD, LED, OLED, QLED, mini-LED, and microLED screens in the following sizes make up the 4K TV market: 65 inches, 50 to 52 inches, 46 inches, 40 to 42 inches, and 32 inches. Factory gate values, or the worth of items sold by manufacturers or other creators to other businesses (such as downstream manufacturers, distributors, wholesalers, and retailers) and to end users directly, are the standards in this 4K TV market. The manufacturers of the products who provide associated services are included in the value of the commodities in this 4K TV market. The 4K TV market value is defined as the revenues companies receive in terms of the currency (in USD unless otherwise indicated) from selling products and services within the specified 4K TV market and area through sales, grants, or contributions. Regardless of where they are produced, the revenues for a specific geographical are consumption values, which are revenues made by businesses in the stated area inside the 4K TV market. Revenues from resale along the supply chain, whether they occur later on or as a component of other items are excluded.

Market Overview:

Television sets need to be updated to accommodate the higher material supplied by HD streaming, which has become possible with the development of smart entertainment technologies like HD Streaming services. Full High Definition (Full HD) and Ultra High Definition (UHD) televisions have grown into 4K screens, which support the popular HD content stream. The display resolution is the basis for this classification of televisions. While JHD television displays have a resolution of 3840 x 2160 pixels, Full HD televisions have a 1920 x 1080 pixels resolution. 4096 x 2160 pixel resolution can only be seen on 4K screens. The LCDs, one of the two display technologies utilized in 4K televisions, feature active and passive matrix displays.

A grid of conductors with pixels positioned at each intersection makes up the passive matrix LCD. Additionally, transistors at each pixel intersection in the active matrix LCD panel are eliminated by running an electric current through the grid. Unlike typical LCD televisions, which use cold cathode fluorescent lights (CCFLs) to backlight the display, LED TVs employ light-emitting diodes to illuminate the screen. Power usage for display illumination sets the two systems apart from one another. LED displays are more popular because they use less electricity than LCD panels. Additionally, 4K televisions with sophisticated LEDs like OLED (Organic Light Emitting Diode) give superb quality while using less energy. This feature encourages consumers to switch from conventional LCD televisions to LED 4K televisions in the 4K TV market.

Strategic Insights

4K TV Market Driver:

The rising consumer demand for UHD technology devices to Drive Growth of 4K TV Market

Future growth in customer demand for UHD technology gadgets. A form of display resolution standard of at least 3840 by 2160 pixels (8.3 megapixels; 4K) is referred to as DHD technology. This technology produces highly fine and sharp images without sacrificing image quality, which enables manufacturers to produce larger TVs while giving consumers a better-looking, more colorful image. For instance, LJHD's market share in the German TV set market increased to 75% in April 2021, according to Broadband TV News, a UK-based supplier of industry intelligence. Around 1.45 million TVs were sold in Germany in QI of 2021. 75% of the 1.1 million UHD TVs were UHD models. Therefore, the 4K TV market is expanding due to increased customer demand for DHD technology gadgets. Major television networks and content creators are investing heavily in LIHD technology. They want to provide a variety of clients with superior UHD content.

Moreover, by employing ultra-high definition camcorders and cameras, professional filmmakers are moving toward UHD resolutions. The 4K TV market is anticipated to grow due to these trends. Aside from home entertainment, several other industries are expected to adopt ultra-high-definition televisions due to their clear and crisp viewing experience. Telepresence, medical, and military intelligence collecting and surveillance are a few examples of potential applications. The 52-65 inch screen size segment dominates the industry in China, which is projected to be worth over USD 20 billion in 2016. The main causes of China's enormous 4K TV market share in the global market are aggressive competitors and vast production facilities. Furthermore, since China was chosen to host the 2022 Winter Olympics in Beijing, notable corporations, including Huawei, Changhong, and Sumavision, have started making investments in the creation of LIHD broadcasting equipment. Additionally, these planned investments are predicted to convert digital broadcasting from HD to LIHD.

Segmental Analysis:

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 of money on Research and development to create powerful graphic engines that permit 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.

Regional Analysis:

Due to China's transformation into the world's largest consumer of 4K TVs, which accounted for more than 70% of the worldwide share in the same year, Asia Pacific held the largest share in 2016. The primary cause of the nation's massive 4K TV usage is the widespread availability of 4K TVs combined with affordable prices. Furthermore, the move toward developing smart classrooms will be the main driver of regional 4K TV market expansion. During the forecast period, there will be an increase in demand for 4K TVs due to the use of cutting-edge technologies in the classroom. The government agencies in the area are also implementing actions that will boost the demand for 4K TVs in the educational sector, which will support the 4K TV market's growth in APAC.

With the launch of 4KTVs, North America, an early adopter, experienced tremendous growth. This trend is anticipated to continue for the forecast period. Furthermore, the growing popularity of 4K set-top boxes, which enable utilizing the full potential of 4K TVs with better picture quality, is also acknowledged by the region's regional 4K TV market expansion. More than half of Americans are likely to own at least one 4K TV by 2025, and the region is expected to expand significantly due to 4K TV prices falling. Due to rising demand in the UK and Germany, the European 4K TV market also showed some modest rise. The proliferation of HDR-capable TVs is a major element anticipated to fuel growth in developed nations.

Key Player Analysis:

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.

Recent Developments: 

Inorganic and organic strategies such as acquisitions and mergers are highly adopted by companies in the 4K TV market. A few recent key 4K TV market developments are listed below: 

  • 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.
REGIONAL FRAMEWORK

4k TV Market Report Analysis

4k TV Market

  • CAGR (2023 - 2031)
    24.10%
  • Market Size 2023
    US$ 191.35 Billion
  • Market Size 2031
    US$ 1,076.47 Billion

Report Coverage

  • Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
  • Key future trends
  • Detailed PEST/Porter’s Five Forces and SWOT analysis
  • Industry landscape and competition analysis & recent developments
  • Detailed company profiles
  • Global and regional market analysis covering key market trends, major players, regulations, and recent market developments

Key Players

  • Changhong
  • Haier Inc.
  • Hisense International Co. LTD
  • LG Electronics
  • Panasonic Corporation
  • Samsung Electronics Co. Ltd.
  • Sharp Corporation
  • Sony Corporation
  • Toshiba Corporation

Regional Overview

  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

By Screen Size
  • Below 52 Inches
  • 52 65 Inches
  • Above 65 inches
By End Use
  • Residential
  • Commercial
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
MARKET PLAYERS

4k TV Market Report Scope

Report Attribute Details
Market size in 2023 US$ 191.35 Billion
Market Size by 2031 US$ 1,076.47 Billion
Global CAGR (2023 - 2031) 24.10%
Historical Data 2021-2022
Forecast period 2024-2031
Segments Covered By Screen Size
  • Below 52 Inches
  • 52 65 Inches
  • Above 65 inches
By End Use
  • Residential
  • Commercial
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • Changhong
  • Haier Inc.
  • Hisense International Co. LTD
  • LG Electronics
  • Panasonic Corporation
  • Samsung Electronics Co. Ltd.
  • Sharp Corporation
  • Sony Corporation
  • Toshiba Corporation
    • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
    Report Coverage
    Report Coverage

    Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

    Segment Covered
    Segment Covered

    This text is related
    to segments covered.

    Regional Scope
    Regional Scope

    North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

    Country Scope
    Country Scope

    This text is related
    to country scope.

    The List of Companies

    1. Changhong
    2. Haier Inc.
    3. Hisense International Co. LTD
    4. LG Electronics
    5. Panasonic Corporation
    6. Samsung Electronics Co. Ltd.
    7. Sharp Corporation
    8. Sony Corporation
    9. Toshiba Corporation
    10. VIZIO Inc.

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