NEW YORK, Feb. 28, 2024 /PRNewswire/ — The television (TV) market is expected to grow by USD 59 billion from 2022 to 2027. In addition, the growth momentum of the market will progress at a CAGR of 7.67% during the forecast period, according to Technavio. Product innovation and advances leading to portfolio extension and product premiumization is notably driving the television market. However, factors such as a lack of 4K content may impede market growth. The market is segmented by technology (UHD and HD), display size (up to 43 inches, 55-64 inches, 48-50 inches, and greater than 65 inches), display Type (LCD and OLED), and geography (APAC, North America, Europe, South America, and Middle East and Africa). We provide a detailed analysis of 20 companies operating in the television market including Changhong, Elitelux Australia, Funai Electric Co. Ltd., Haier Smart Home Co. Ltd., Hisense International Co. Ltd., Koninklijke Philips NV, Konka Group Co. Ltd., Micromax Informatics Ltd., MIRC Electronics Ltd., Panasonic Holdings Corp., Samsung Electronics Co. Ltd., Sharp Corp., Skyworth Group Ltd., Sony Group Corp., TCL Electronics Holdings Ltd., Videocon Industries Ltd., Xiaomi Inc., Apple Inc., LG Electronics Inc., and VIZIO Holding Corp. Request a Free Sample Report.
Technavio has announced its latest market research report titled Global Television Market 2023-2027
Company Analysis
Onida – The company offers televisions such as QNED, and QLED. This report provides a full list of key companies, their strategies, and the latest developments. Buy Now for detailed company information
Technology
The market share growth by the UHD segment will be significant during the forecast period. UHD televisions feature a horizontal screen resolution of 4,000 pixels and a vertical screen resolution of 3,840 pixels x 2,160 lines (8.3 megapixels; aspect ratio 16:9). Technological advancements will be the primary driver of the global 8K display resolution market.
Other segments include Display size (up to 43 inches, 55-64 inches, 48-50 inches, and greater than 65 inches) and Display type (LCD and OLED)
Geography
APAC is estimated to contribute 39% to the growth of the global market during the forecast period. The growing population of the middle classes and their increasing income are primarily responsible for this, which leads to increased purchasing power in consumer electronics. Moreover, the regional market is being driven by urbanization and an increasingly mobile population.
Analyst Review
The Television (TV) market is undergoing a profound transformation driven by technological advancements and shifting consumer preferences. With the proliferation of Internet access and mobile devices, traditional TV viewing has evolved into a multi-faceted landscape encompassing digital television, streaming services, and over-the-top (OTT) television services. TV makers are adapting to this changing environment by producing Internet-connected TVs equipped with high computational power and operating systems that allow for seamless integration with various apps developed by app developers.
In regions like North America and Western Europe, where connect TVs are prevalent, there’s a surge in OTT content consumption, leading to a decline in pay-TV subscribers. Market research reports indicate significant growth projections for the Global Smart TV Market, with streaming services such as Netflix, Amazon Prime Video, and Disney+ driving this expansion. Companies like HBO Now are also capitalizing on this trend by offering exclusive content accessible through their platforms.
Moreover, Nielsen continues to play a crucial role in measuring viewership and providing valuable insights into industry verticals. As the demand for diverse content grows, OTT television services are expected to dominate the market, catering to a global audience, including emerging markets like India.
In conclusion, the TV market is experiencing a paradigm shift, propelled by technological innovation and the rise of streaming services. Adapting to these changes is imperative for stakeholders to thrive in an increasingly competitive landscape. View a Free PDF Sample Report
Related Reports:
The curved televisions market size is estimated to grow by USD 7,448.43 million at a CAGR of 23.07% between 2022 and 2027.
The closed circuit television (CCTV) market size is estimated to grow by USD 12,643.33 million at a CAGR of 11.92% between 2022 and 2027.
ToC:
1 Executive Summary
2 Landscape
3 Sizing
4 Historic Size
5 Five Forces Analysis
6 Segmentations
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com
SOURCE Technavio
