4K2K TV Market size to grow by USD 23.17 billion from 2021 to 2026; Growth driven by demand for projectors in the education and corporate sectors - Technavio
NEW YORK, March 29, 2023 /PRNewswire/ -- The global 4K2K TV market size is estimated to grow by USD 23.17 billion from 2021 to 2026, according to Technavio. The market is estimated to grow at a CAGR of 7.7% during the forecast period. The market is driven by the increasing demand for projectors in the education and corporate sectors. Projectors are widely used in educational institutions such as schools and colleges as classrooms are going digital. Similarly, in the corporate sector, projectors are extensively used activities such as business presentations and the discussion of project plans. To make the technology more accessible to end-users, vendors are adopting several initiatives. Some vendors are collaborating with education system integrators to increase the adoption of 4K2K TVs with in-built smart classroom technology in schools and colleges. Such factors are driving the growth of the global 4K2K TV market. For more insights on the market size (2022 to 2026) - Request a sample report
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Global 4K2K TV Market - Segmentation Assessment
Technavio has segmented the market based on display size (60 to 69 inches, 50 to 59 inches, less than 49 inches, 70 to 79 inches, and 80 and above) and geography (APAC, North America, Europe, South America, and Middle East and Africa).
The market growth will be significant in the 60-69 inches segment during the forecast period. Consumers in developed countries such as the US, the UK, and Australia are exhibiting increased demand for 60- to 69-inch 4K2K TVs. Large TVs built with 4K technology contains more pixels and provide sharper picture resolution than HD TVs. Also, there is a small price difference between 55 inches and 65 inches TVs. This urges consumers to choose the bigger screen, superior quality 4K2K TV over the 55-inch TV. All these factors are driving the growth of the segment.
By geography, the global 4K2K TV market is segmented into APAC, North America, Europe, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global 4K2K TV market.
APAC will account for 39% of the market growth during the forecast period. Factors such as the strong presence of several vendors and the rising adoption of smart classrooms are driving the growth of the regional market. Also, changing lifestyles and increasing consumer spending on consumer electronics are driving the growth of the 4K2K TV market in APAC.
Insights on the market contribution of various segments, including country- and region-wise and forecast market size (2022 to 2026) – Download a Sample Report
Global 4K2K TV Market – Vendor Landscape
The global 4K2K TV market is fragmented with the presence of many vendors. Established players account for a significant share of the market. Vendors are focusing on expanding their product portfolios by developing advanced technologies and obtaining regulatory approvals for new products. The launch of new products with innovative technologies will strengthen the product portfolios of manufacturers and their position in the market. Vendors are also adopting organic and inorganic growth strategies to gain a competitive edge in the market. They adopt organic growth strategies, such as technological innovations, partnerships and collaborations, and new product launches, to diversify their product portfolios and increase their sales volumes. Some of the key vendors covered in the report include:
Haier Smart Home Co. Ltd.
Havells India Ltd
Hisense International Co. Ltd.
Koninklijke Philips NV
Konka Group Co. Ltd.
OnePlus Technology Co. Ltd.
Samsung Electronics Co. Ltd.
Shinco Technology Co. Ltd.
Snap One LLC
Sony Group Corp.
TCL Electronics Holdings Ltd
Videocon Industries Ltd.
Videotex International Pvt. Ltd.
VIZIO Holding Corp. Inc.
Westinghouse Electric Corp.
Global 4K2K TV Market – Market Dynamics
Leading trends influencing growth
Business strategies adopted by vendors are identified as the key trend in the market.
Vendors in the market are adopting various business strategies to remain competitive.
Some vendors are partnering with end-users and distributors to improve their distribution channels. They are upgrading their product portfolios by integrating software tools and advanced features.
Vendors are also focusing on technological innovations. They are incorporating new software and features in their 4K2K TVs to attract customers and drive more sales.
Many such business strategies adopted by vendors will positively influence the growth of the market during the forecast period.
Major challenges hindering growth
The high cost of 4K2K TVs is one of the major challenges hindering the growth of the market.
4K2K TVs are more expensive than other display products.
High-end projectors used in large auditoriums can cost up to USD 200,000.
Also, the maintenance and repair costs of 4K2K TVs are high due to the use of advanced technologies.
Many small and medium-sized companies and learning institutes have limited budgets to spend on such equipment.
All these factors are limiting the growth potential in the market.
Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!
What are the key data covered in this 4K2K TV Market report?
CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the 4K2K TV Market between 2022 and 2026
Precise estimation of the size of the 4K2K TV Market size and its contribution to the market in focus on the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the 4K2K TV Market industry across APAC, North America, Europe, South America, and Middle East and Africa
A thorough analysis of the market's competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of 4K2K TV Market vendors
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The UHD TV market size is expected to increase by USD 313.44 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 22.35%. The market is segmented by display type (LED, QLED, and OLED), screen size (50-59 inches screen size, 60-69 inches screen size, 40-49 inches screen size, and 70 inches and above screen size), type (4K and 8K), and geography (APAC, North America, Europe, Middle East and Africa, and South America).
The smart TV market is estimated to grow at a CAGR of 10.81% between 2022 and 2027. The size of the market is forecast to increase by USD 69.33 billion. The market is segmented by distribution channel (offline and online), type (below 32 inches, 32 to 45 inches, 46 to 55 inches, 56 to 65 inches, and above 65 inches), and geography (APAC, Europe, North America, South America, and Middle East and Africa).
4K2K TV Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 7.7%
Market growth 2022-2026
USD 23.17 billion
YoY growth 2021-2022 (%)
APAC, North America, Europe, South America, and Middle East and Africa
Performing market contribution
APAC at 39%
US, China, India, Japan, and Germany
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled
Haier Smart Home Co. Ltd., Havells India Ltd, Hisense International Co. Ltd., Koninklijke Philips NV, Konka Group Co. Ltd., LG Corp., OnePlus Technology Co. Ltd., Panasonic Corp, Samsung Electronics Co. Ltd., Sharp Corp., Shinco technology Co. Ltd., Snap One LLC, Sony Group Corp., TCL Electronics Holdings Ltd, Toshiba Corp., Videocon Industries Ltd., Videotex International Pvt. Ltd., VIZIO Holding Corp. Inc., Westinghouse Electric Corp., and Xiaomi Inc
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.
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Table of contents:
1 Executive Summary
1.1 Market overview
2 Market Landscape
2.1 Market ecosystem
3 Market Sizing
3.1 Market definition
3.2 Market segment analysis
3.3 Market size 2021
3.4 Market outlook: Forecast for 2021-2026
4 Five Forces Analysis
4.1 Five forces summary
4.2 Bargaining power of buyers
4.3 Bargaining power of suppliers
4.4 Threat of new entrants
4.5 Threat of substitutes
4.6 Threat of rivalry
4.7 Market condition
5 Market Segmentation by Display Size
5.1 Market segments
5.2 Comparison by Display Size
5.3 60 to 69 inches - Market size and forecast 2021-2026
5.4 50 to 59 inches - Market size and forecast 2021-2026
5.5 Less than 49 inches - Market size and forecast 2021-2026
5.6 70 to 79 inches - Market size and forecast 2021-2026
5.7 80 and above - Market size and forecast 2021-2026
5.8 Market opportunity by Display Size
6 Customer Landscape
6.1 Customer landscape overview
7 Geographic Landscape
7.1 Geographic segmentation
7.2 Geographic comparison
7.3 APAC - Market size and forecast 2021-2026
7.4 North America - Market size and forecast 2021-2026
7.5 Europe - Market size and forecast 2021-2026
7.6 South America - Market size and forecast 2021-2026
7.7 Middle East and Africa - Market size and forecast 2021-2026
7.8 China - Market size and forecast 2021-2026
7.9 India - Market size and forecast 2021-2026
7.10 US - Market size and forecast 2021-2026
7.11 Japan - Market size and forecast 2021-2026
7.12 Germany - Market size and forecast 2021-2026
7.13 Market opportunity by geography
8 Drivers, Challenges, and Trends
8.1 Market drivers
8.2 Market challenges
8.3 Impact of drivers and challenges
8.4 Market trends
9 Vendor Landscape
9.2 Vendor landscape
9.3 Landscape disruption
9.4 Industry risks
10 Vendor Analysis
10.1 Vendors covered
10.2 Market positioning of vendors
10.3 Haier Smart Home Co. Ltd.
10.4 Hisense International Co. Ltd.
10.5 Koninklijke Philips NV
10.6 LG Corp.
10.7 Panasonic Corp
10.8 Samsung Electronics Co. Ltd.
10.9 Sharp Corp.
10.10 Sony Group Corp.
10.11 TCL Electronics Holdings Ltd
10.12 Toshiba Corp.
11.1 Scope of the report
11.2 Inclusions and exclusions checklist
11.3 Currency conversion rates for US$
11.4 Research methodology
11.5 List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides 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 across 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.
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