Ultra High Definition TV Market Size, Share, Growth, and Industry Analysis, By Type (Below 52 Inches, 52 – 65 Inches, Above 65 Inches), By Application (Commercial, Residential) and Regional Insights and Forecast to 2031

Updated On: 29 April 2024

ULTRA HIGH DEFINITION TV MARKET REPORT OVERVIEW

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The global ultra high definition TV market size was USD 59460 million in 2023 and will touch USD 87260 million by 2029, exhibiting a CAGR of 6.6% during the forecast period.

UHD, often referred to as Ultra HD, is becoming increasingly common in media devices, televisions and video content. TV pictures with Ultra HD resolution have four times more pixels than Full HD pictures. Today's high-definition television includes 4K UHD and 8K UHD, two advanced video models with an aspect ratio of 16:9. It is the computer television (DTV) standard and the successor of high definition television (HDTV), which in turn replaced standard television (SDTV). The electronic display industry combines various display technologies such as light emitting diode (LED), liquid crystal display (LCD) with high definition (HD) and full HD. UHD is an umbrella term that includes all programs with higher targets that deliver targets many times higher than Full HD discs.

These UHD panels have now been adopted by all TV players and these panels would pave the way for major advancement in this market. As shipments of these panels would reach 145,000 units in 2015, this market is expected to grow, making it imperative to study its global scenario. Proliferation of UHD panels in televisions, personal computers, cameras (consumer electronics), digital signage, and industrial applications are some of the factors driving the growth of the market. The high price is the only major limitation of this market. As technology advances, there are many opportunities for growth in the market.

COVID-19 Impact: Market Growth Restrained by Pandemic due to Supply Chain Disruptions

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 market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

Many industries have been temporarily suspended or operating with reduced staff following the recent COVID-19 outbreak due to mandatory restrictions and other restrictions imposed by relevant regulatory organizations. Because of this factor, the market is experiencing a significant slowdown in income growth, just like other markets. Another factor that may hamper the revenue of the global ultra high definition TV market during the forecast period is the high installation and maintenance costs associated with these devices.

LATEST TRENDS

"Smart Features in Cloth Wardrobes to Drive Market Growth"

Several trends are emerging in the global ultra high definition TV market. The shift to larger screen sizes is obvious because consumers want immersive viewing. In addition, demand for UHD smart TVs is increasing as they offer streaming services and internet connectivity. 8K resolution is becoming increasingly popular and offers sharper and more detailed images. Amberlite technology, which reflects ambient light onto the surrounding walls, is becoming popular, enhancing the visual experience. In addition, manufacturers focus on environmentally friendly features such as low energy consumption and the use of recycled materials, which meet the emerging trend of sustainable development.

ULTRA HIGH DEFINITION TV MARKET SEGMENTATION

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By Type

Based on type the global market can be categorized into Below 52 Inches, 52 – 65 Inches, Above 65 Inches.

• Below 52 Inches: The first segment is "Less than 52 inches", which includes UHD TVs with a screen size of less than 52 inches.

• 52 – 65 Inches: The second segment is "52-65 inches", which includes UHD TVs in the size of 52-65 inches.

• Above 65 Inches: The third segment is "Over 65 inches", which consists of UHD TVs with a screen size of more than 65 inches. These segments reflect the different options available to consumers looking for UHD TVs in different sizes according to their preferences and requirements.

By Application

Based on application the global market can be categorized into Commercial, Residential.

• Commercial: In the commercial sector, these TVs are typically used in places such as hotels, restaurants and shopping malls to provide immersive viewing. experience to customers. They enhance advertising, digital signage and presentations by creating a visually appealing environment.

• Residential: In the residential market, UHD TVs are popular for home theater and entertainment systems. They allow homeowners to enjoy crystal clear picture quality and vivid details, turning their living room into a personal cinema.

DRIVING FACTORS

"Increasing Demand For UHD Tvs Will Boost The Market"

The demand for UHD TVs is one of the key factors supporting the ultra high definition TV market growth. More movies and even TV shows are being made in 4K. In addition, UHD TVs are used as default platforms for gaming hardware. In addition, the growing demand for video games continued to complement the growth of televisions. For example, in Singapore, video games accounted for 2021 of consumer TV spending, including TV subscriptions, set-top boxes and video-on-demand. Therefore, the launch of new UHD-capable gaming consoles is expected to increase the demand for televisions during the forecast period.

"Growth Of The Entertainment Sector To Increase Market Sales Will Fuel Market Growth"

The world is constantly experiencing a flood of technology in many different areas. There is also a notable push towards the spread of technology in the media and entertainment industry. As a result, the production of televisions and monitors underwent a revolution. Also, people can now upgrade to UHD panels due to increased disposable income in many emerging economies. The use of UHD panels has increased dramatically in recent years due to the strengthening of the economy, which is driving the expansion of the ultra high definition TV market worldwide.

RESTRAINING FACTORS

"Limited Durability and Longevity to Potentially Impede Market Growth"

Lack of 4K content is one of the factors holding back the growth of ultra high definition TV market. The main issues with 4K and 8K resolution are home features and content distribution. Many owners of 4K UHD devices do not have access to such content because broadcasters do not yet create 4K content. This difference is mainly due to the high capital costs associated with contributing and distributing 4K UHD. Therefore, operators may not have an incentive to shorten the life cycle of a replacement to provide consumers with a 4K UHD set-top box (STB). The gap between the demand for UHD TVs and the supply of content will slow down the growth of the market during the forecast period.

ULTRA HIGH DEFINITION TV MARKET REGIONAL INSIGHTS

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"Asia Pacific Dominating the Market due to Interest In Emerging Economies"

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

The Asia-Pacific region is the holding the largest ultra high definition TV market share that captures the global glory television market here and is expected to remain in control for a long time, with increasing interest in emerging economies such as Japan, China India. These countries tend to add extra currency, which increases market interest in these countries. The development may also be due to the visibility of the OTT stage, which has grown a lot with Netflix, Amazon Prime and other similar OTT stages, which have constantly refined their content creative and promotional techniques with particular care. who is willing to consume this substance. They are also trying to test different rating techniques to reach a wider market. The market share of these TVs continues to grow, the extra money is increasing.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

The ultra high definition TV market is significantly influenced by key industry players that play a pivotal role in driving market dynamics and shaping consumer preferences. These key players possess extensive retail networks and online platforms, providing consumers with easy access to a wide variety of options. Their strong global presence and brand recognition have contributed to increased consumer trust and loyalty, driving product adoption. Moreover, these industry giants continually invest in research and development, introducing innovative designs, materials, and smart features, catering to evolving consumer needs and preferences. The collective efforts of these major players significantly impact the competitive landscape and future trajectory of the market.

List of Market Players Profiled

• Samsung (South Korea)
• Hisense (China)
• LG (South Lorea)
• SONY (Japan)
• Skyworth (China)
• TCL (China)
• Sharp (Japan)
• Panasonic (Japan)
• Changhong
• Seiki (Tongfang)
• Konka (China)
• Philips
• MI (China)

INDUSTRIAL DEVELOPMENT

October 2023: LG entered the smart wardrobe industry with its LG Styler, a steam clothing care system that helps users refresh, sanitize, and deodorize their clothes at home. The LG Styler incorporates advanced technologies like TrueSteam and Smart Diagnosis, delivering efficient and effective clothing care solutions.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.