Global 4K TV Market - Overview
The development of the home entertainment market is
estimated to bolster the 4K TV Market in 2020. The consumer
electronic device industry reports are produced by Market Research Future,
which highlights market options for expansion. An income level of USD 50
billion, with the support of a 24% CAGR, is estimated by the end of 2023.
The demand for better picture quality is rising in
the end-user base, and this is estimated to fuel the 4K TV market share. The
upsurge in demand for consumer electronics on a global scale is estimated to
push the development of the 4K TV market. The enhancement in display technology
is estimated to promote further the expansion of the 4K TV market in the
approaching period.
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Segmental Analysis
The segmental analysis of the 4K TV market is
carried out on the basis of region, product type, and end-users.
On the basis of types, the 4K TV market has been
segmented into 55 Inch, <55 Inch, and 65 Inch.
On the basis of end-user, the 4K TV market has been
bifurcated into public and household.
On the basis of region, the 4K TV market is
segmented into Asia Pacific, North America, Europe, and the rest of the region
globally.
Detailed Regional Analysis
The regional scrutiny of the 4K TV market
encompasses regions such as Asia Pacific, North America, Europe, and the rest
of the region globally. The Asia Pacific region is projected to remain at the
lead in the global market for 4K TV in the forecast period.
Presently, the region directs for the most prominent
market stake and is expected to remain in dominance during the assessment
period. The incidence of prominent television manufacturers, the influx of
fresh vendors, and a large group of consumers are projected to thrust the 4K TV
market in the region. The sales of 4K television are projected to persist in
the region of North America. The US is one of the principal importers of 4K
television in the world. As a result, the region is estimated to offer lucrative
growth prospects for the market over 2023.
Competitive Analysis
The unsteadiness in the forces of demand and supply
is expected to produce an advantageous bearing on the market taken as a whole
in the forecast period. The growth restraints of the market are anticipated to
be momentous and will need to be neutralized to unlock favorable development in
the market. The declining effects evident in the market globally are
anticipated to stay for the foreseeable future to the scale of impact on the
worldwide market. The necessity for tactful analysis of the market cues and
demand projections is anticipated to lead to a robust expansion in the market.
The restitution and operations on a daily basis are anticipated to take some
time, which will show the way to concentrated development of the backlogs
created in delivery. The financial backing provided by the administrations and
trade bodies is anticipated to reclaim the situation in the coming years. The
conundrum present in the global market relating to the fundamental assets of
the corporations is being optimized to fair the existing pandemic more
successfully.
The strategic companies in the 4K television market
are Videocon Industries Limited (India), TTE Technology, Inc. (China), Toshiba
Corporation (Japan), LG Display (South Korea), Samsung Electronics Co. Ltd
(South Korea), Haier Inc. (China), Sharp Corporation(Japan), Sony Corporation
(Japan), Panasonic Corporation (Japan), among others.
Industry Updates:
June 2020 Samsung, a well-known South Korean firm,
has at present revealed new typical 4K and 8K televisions, along with its
"The Frame" screens, which merge impeccably into living rooms. The
company has also introduced a new television designed to work outdoors all
year-round.
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