Global TV market overview
It has been observed that the integration of innovative features such as internet connectivity, USB ports, 3D support, and other applications in TVs is encouraging customers to purchase new TVs. Vendors are focusing on improving the audio-visual experience of consumers by introducing new technologies such as HD, 3D, and 4K UHD, which will drive the global TV market’s growth. According to Technavio’s analysts, the global TV market size will grow at a steady rate and post a CAGR of close to 10% during the forecast period. The growing popularity of 3D programming and video-on-demand (VoD) will be primary factors leading to the growth of the global TV market until the end of 2021.
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In terms of geography, APAC accounted for the majority of the market share during 2016 and will continue to dominate the market for the next four years. One of the major factors responsible for the market's growth in the region is the growing demand from end-users in China as APAC is the manufacturing hub for UHD TVs.
Competitive landscape and key vendors
The global TV market is highly competitive and diversified due to the presence of a large number of regional and international vendors across the globe. It has been observed that these vendors are increasingly competing against each other based on factors such as features, technologies, displays, and prices. These vendors are also focusing on investing heavily in planning, designing, developing, acquiring new players and expanding their existing facilities. Furthermore, various leading broadcasters such as Sky and Virgin Media are upgrading their infrastructure to provide 3D and VoD content, which will propel the rate of revenue generation in the global TV market.
Key vendors in this market are -
- Hisense
- LG Electronics
- Panasonic
- Samsung Electronics
- Sony
Other prominent vendors in the market include Funai Electric, Haier, Koninklijke Philips, Konka, Micromax Informatics, Onida Electronics, Mitashi, Sansui Electric, Seiki Digital, Sharp, Sichuan Changhong Electric, Skyworth Digital, TCL, Toshiba, Videocon, Xiaomi, VIZIO, and Westinghouse Digital.
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Segmentation by technology and the TV market analysis
The UHD TV segment accounted for the majority market share during 2016 and will continue to dominate the market for the next four years, as per the TV market forecast report. Some of the major factors responsible for the increased revenue shares in the market’s segment is the growing demand for technologically advanced products plus its additional features such as better picture quality with four times higher resolution of HD TV, a wide field of view, and extended color range. Also, broadcasting companies such as Netflix and Amazon Prime are developing 4K content and with the advent of UHD technology, the demand for UHD TVs will further increase.
The TV market segmentation by resolution and industry analysis
The LCD TV segment accounted for the majority market share during 2016 and will continue to dominate the market during the forecasted period. One of the major factors responsible for the growing revenue share is its extensive demand from China because of the ultra-low manufacturing cost and growing number of government subsidies. However, the market segment is expected to experience a stagnant growth in the coming years.
Key questions answered in the report include
- What will the global TV market size and the growth rate be in 2021?
- What are the key factors driving the global TV market?
- What are the key TV market trends impacting the growth?
- What are the challenges to the TV market growth?
- Who are the key vendors in the global TV market?
- What are the market opportunities and threats faced by the vendors in the global TV market?
- What are the trending factors influencing the TV market shares of the Americas, APAC, and EMEA?
- What are the key outcomes of the five forces analysis of the global TV market?
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