According to a new market research report published by Credence Research “Television (TV) Mount Market (Product: Standard (Fixed), Articulating, Ceiling and Pole TV Mount) – Growth, Future Prospects and Competitive Analysis, 2016 – 2023”, the global TV mount market is estimated to reach US$ 3.39 Bn by 2023.
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TV mount brackets are used to install television sets directly on the wall, ceiling or pole. These are typically manufactured using metallic material (preferably steel). The demand for TV mount is highly dependent over the overall flat television sales scenario worldwide. Subsequently, television market growth becomes the prime factor responsible for the demand/consumption of TV mount brackets. Steadily rising television industry worldwide is, thus, the most significant factor driving the TV mount market. Despite economic recession, the overall television market has witnessed significant growth across Asia Pacific, especially China and India. This has strongly supported the TV mount market growth in recent years.
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With the rapidly growing adoption of advanced television sets such as UHD TV, smart LED TV and others, the overall TV mount market growth is projected to remain consistent in the coming years. Another major factor pushing the market growth is the availability of wide range of TV mount products in the market. Nevertheless, one of the major challenges for the TV mount market is to cope with the high level of fragmentation in the market globally.
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The TV mount market is broadly segmented on the basis of types into standard (fixed) TV mounts, articulating TV mounts, ceiling TV mounts and pole TV mounts. On the basis of geographic regions, the market is segmented into North America, Europe, Asia Pacific and rest of the world (RoW). As of 2015, the Asia Pacific region leads the overall TV mount market and is estimated to remain dominant throughout the forecast period.
The overall TV mount market is highly fragmented in nature with large number of players across different regions. Companies across major regions are facing intensive competition from international as well as local TV mount manufacturers. Various business strategies are adopted by the manufactures to increase their sales and remain ahead in the market competition. Strategic acquisitions, technological development and innovation and expanding product portfolio are key strategies adopted extensively by TV mount manufacturers. Another crucial approach taken by the companies is to develop strategic alliances with global TV manufacturers for becoming their long term supplier. Further, the companies are also participating in electronic trade fairs and exhibitions worldwide to widen their customer reach and promote brand.
- Focus on automated TV mounts
- Development of more aesthetic products
- Enhancement of distribution network
- Providing easy installation TV mount kits thereby supporting the DIY concept
- Emphasis on online sales
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