Portable and Handheld TV Market Size, Share, Growth and Industry Analysis by Type (LCD, and, OLED) By Application (Residential, And, Commercial) Regional Insights and Forecast To 2031

Updated On: 22 April 2024

portable and handheld TV market REPORT OVERVIEW

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The global portable and handheld TV market size is expected to be worth 66 million in 2021 and is projected to touch USD 81 million by 2028 with a CAGR of 3.1% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Portable and handheld TVs are compact and convenient devices that allow users to enjoy television content on the go. These pocket-sized marvels typically feature built-in screens, antennas, and even rechargeable batteries, making them ideal for outdoor activities or long commutes. They come equipped with a variety of input options, including USB and SD card slots, to access multimedia content.

While they may not offer the large screens or high-definition quality of traditional TVs, they are perfect for catching up on news, sports, or entertainment when you're away from home. Portable and handheld TVs offer a glimpse into the future of entertainment mobility. All of these factors are driving the portable and handheld TV market share.

COVID-19 impact: Increasing Time at Home During Pandemic Decreased Market Growth

The COVID-19 pandemic had a significant impact on the portable and handheld TV industry. With lockdowns and restrictions in place, people spent more time at home, which increased the demand for traditional home entertainment systems, like large-screen TVs and streaming services. This reduced the need for portable and handheld TVs, as consumers were less on the move.

 However, some individuals used these devices for remote work or education during the pandemic. As restrictions eased, there was a resurgence in interest for portable TVs, particularly for outdoor and travel activities. The pandemic highlighted the adaptability and versatility of these devices in changing circumstances.

LATEST TRENDS

"Introduction of OLED and AMOLED by Manufacturers to Fuel Market Growth"

Recent innovations in portable and handheld TV technology have been remarkable. Manufacturers have introduced OLED and AMOLED displays, providing sharper, more vibrant images. Enhanced connectivity options, such as Bluetooth and Wi-Fi, enable seamless streaming from smartphones and other devices.

Some models now feature built-in digital assistants, voice recognition, and app stores for added functionality. Improved battery life and energy-efficient components offer longer usage times. Additionally, designs have become more compact and lightweight, making them highly portable. These innovations have transformed portable and handheld TVs into versatile multimedia hubs, catering to the modern consumer's on-the-go entertainment needs.

portable and handheld TV market SEGMENTATION

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• By Type:

The market can be divided on the basis of type into the following segments:

LCD, and, OLED. The LCD segment is anticipated to dominate the market during the forecast period.

• By Application:

Classification based on application into the following segment:

Residential, and, commercial. The residential segment is predicted to dominate the market during the research period.

DRIVING FACTORS

"Advances in Display Technology and Connectivity Options to Accelerate Market Growth"

The driving factors in the market include consumers' increasing desire for on-the-go entertainment and information. Advances in display technology and connectivity options have made these devices more appealing. The demand for compact, lightweight, and energy-efficient products aligns with modern lifestyles.

Moreover, the versatility of portable TVs, such as their use for travel, outdoor activities, and in emergency situations, fuels their popularity. The growing need for remote work and education solutions also contributes to the market's expansion. As technology continues to evolve, portable and handheld TVs are set to remain a go-to choice for convenience and entertainment. All of the above-mentioned factors are propelling the portable and handheld TV market growth.

"Increasing Affordability of Electronic Devices in Recent Times to Propel Market Growth "

Apart from consumer preferences, several other driving factors influence the market. The increasing affordability of advanced electronics plays a pivotal role, making these devices accessible to a broader demographic. Technological convergence, where these TVs integrate features like streaming, gaming, and connectivity, enhances their appeal.

Additionally, the rising popularity of outdoor and recreational activities, where a portable TV can be a valuable source of entertainment, has spurred demand. As the world becomes more connected, the need for staying informed or entertained while on the move continues to drive the market, positioning portable and handheld TVs as versatile, indispensable gadgets.

RESTRAINING FACTOR

"Tough Competition Offered by Smartphones and Tablets to Bring Down Market Growth"

Several restraining factors affect the market. One significant challenge is the competition from smartphones and tablets, which offer similar functions and often serve as dual-purpose devices. Limited screen size and resolution compared to larger TVs can also hinder their adoption for primary entertainment.

 Battery life remains a concern, as prolonged use can drain power quickly. Signal reception in remote areas or during adverse weather can be unreliable, impacting user experience. Additionally, while connectivity is a strength, it can also be a weakness when faced with data limitations or connectivity issues. These factors collectively impede the widespread adoption of portable and handheld TVs.

portable and handheld TV market Regional Insights

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"Asia Pacific to Dominate Market Due to Large and Diverse Consumer Base "

Asia Pacific emerges as the leading region in the portable and handheld TV market. This dominance can be attributed to several key factors. The region's large and diverse consumer base, along with its tech-savvy population, fosters robust demand. Moreover, the proliferation of affordable, high-quality electronics manufacturing in countries like China and South Korea has accelerated product availability.

The region's strong urbanization trends, coupled with a growing middle class, have spurred the adoption of portable entertainment solutions. Additionally, the Asia Pacific market benefits from an extensive network of retailers and e-commerce platforms that cater to the diverse needs of consumers, further solidifying its position as a leader in this industry.

Key Industry Players

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

List of Market Players Profiled

• Tyler (U.S.)
• XORO (Germany)
• SuperSonic, Inc (U.S.)
• Pyle Audio (U.S.)
• Axess Products Corporation (U.S.)
• Naxa (U.S.)
• August International (U.K.)

Report Coverage

The report provides an insight into the industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations. A list of the key industry players has also been mentioned in the report in order to give an idea of the competition present in the market.