The ultra-definition televisions is a combination of 4K resolution, high dynamic range, high frame rate and wide color gamut (WCG). 4K television is a biggest change in the television industry. The competition between various 4K television vendors has intensified over the past few years.
The factors contributing to the growth of the 4K television market are new technological changes, features such as better picture quality, high resolution, increasing demand for consumer electronics and increasing demand for live shows. However, factor such as high cost is hindering the overall growth of the 4K television market.
Geographically, Asia-Pacific accounted for the largest market share in the global 4K television market, whereas North-America is expected to grow at a fast pace over the forecast period, 2017-2023.
The global 4K television market is expected to reach approximately USD 50 billion by the end of 2023 with 24% CAGR during forecast period 2017-2023.
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Latest Industry Trends and News:
Panasonic Media Entertainment Company, a business unit of Panasonic Corporation of North America, which specialises in creating and delivering audio visual solution and immersive entertainment experiences has unveiled a wide array of visual systems, which also features LinkRay a unique visible light communication system. The company showcased these technologies during the 2018 Digital Signage Expo in Las Vegas.
Xiaomi has recently unveiled the 55-inch Mi TV 4S in China with voice control and 4K HDR. Reportedly, the TV will enter the market by first week of April. The price set for the TV is at around CNY 2,999 (roughly Rs 31,000). In addition, the company’s 55-inch Mi TV 4 with 4K HDR recently made its India debut.
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.
Global Market for 4K TV – Segmental Analysis
MRFR in its report has offered a segmental analysis of the market based on product type and end users. On the basis of type, the market has been segmented into 65 Inch, 55 Inch and <55 Inch. By end-user, the market has been segmented into public and household.
Based on region, the market is segmented into Asia-Pacific, North-America, Europe, and rest of the world. Asia Pacific is expected remain at the forefront of the global market for 4K TV in 2017 and beyond. Currently, the region commands for the largest market share and is likely to continue its dominance throughout the assessment period. Presence of leading television manufacturers, arrival of new vendors and a large pool of consumer is expected to propel the market in the region. Sales of 4K television is expected remain strong in North America. The US is one of the largest importers of 4K television in the world. Therefore, the region is expected to present lucrative growth opportunities for market over 2023.
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