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The 4K TV market size is estimated to grow at a CAGR of 19.19% between 2022 and 2027. The market size is forecast to increase by USD 183.45 billion. The growth of the market depends on several factors, including the rising popularity of large-display televisions, product innovation and advances leading to portfolio extension and product premiumization, and the growing prominence of online sales.
This 4K TV market report extensively covers market segmentation by type (52-65 inches type, below 52 inches type, and above 65 inches type), application (residential, commercial, and industrial), and geography (APAC, North America, Europe, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The rising popularity of large-display televisions is notably driving the market growth, although factors such as the lack of 4K content may impede the market growth. Our researchers analyzed the data with 2022 as the base year and the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The rising popularity of large-display televisions is notably driving market growth. In 2018, a 40-inch television was the standard size across the globe. However, the majority of retailers now provide televisions with screens larger than 80 inches. In 2019, 25% of televisions sold (more than half of all sales) were 50 inches or larger. For screens 36 inches or larger, consumers are likely to choose a UHD/4K television over an HD model during the forecast period. Customers will have a better experience with a UHD television than they would with a screen smaller than 36 inches due to the higher resolution it offers.
The increasing acceptance of video walls as a viable option is another factor promoting the expansion of this market. In order to give the impression of one large screen, video walls are made up of several monitors arranged in a row. They have superior qualities and are increasingly used as digital signage in manufacturing facilities, in addition to their use in large settings. Flexible video deployments that offer numerous advantages are valuable to businesses across a range of industries. Large-area displays, like video walls, are used in manufacturing facilities to deliver real-time information via digital solutions and provide data on inventory, daily output levels, and more. These factors are likely to foster the growth of the market during the forecast period.
The demand for smart TVs is an emerging trend in the market. Smart TVs also referred to as hybrid TVs or connected TVs have interactive Web 2.0 features built right into them. The 4K resolution is a feature of the most recent smart TVs. During the forecast period, the rising demand for such smart TVs will favorably affect the expansion of the global market.
Smart features are becoming more valued as necessities, which has caused consumers' preferences to change and led to a self-sustaining demand for integrated internet streaming capabilities. A number of retailers also offer smart UHD TVs. Important market players like LG and Samsung offer Android smart TVs. Different-sized LED and OLED Android smart TVs are available from Sony Group Corp. Smart TVs are now widely available on par with regular TVs, which has helped them become commonplace items in major cities, small towns, and tier-II cities. This trend will continue to contribute to the growth of the global market during the forecast period.
The lack of 4K content is a major challenge impeding market growth. The advanced 4K HDR OLED technology and X1 Extreme processor used in the AF8 series are designed to give users the best experience possible. Studios must use 4K-capable equipment, which is still being developed, in order to film content that can be viewed in 4K. The lack of content, however, may make purchasing a 4K TV a disadvantage.
Although vendors are working to integrate 4K into their individual platforms, the high cost of these 4K videos prevents many users from viewing them. Its titles are purchased without a resolution quality option, allowing customers with the right audiovisual (AV) setups and quick internet connections to stream 4K content. In-home capabilities and content distribution are the main problems with 4K and 8K resolutions. Many owners of 4K UHD devices are unable to access this content because broadcasters have not yet produced 4K content. The significant financial investment required to contribute and distribute 4K UHD is the main cause of this gap. Operators might not be motivated to shorten the replacement lifecycle in order to offer customers a 4K UHD set-top box (STB). Therefore, the gap between the demand for UHD TVs and the supply of content will hinder the growth of the global market during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global 4K TV Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Skyworth Group Ltd. - The company primarily engages with the manufacturing and sales of consumer electronic products and upstream accessories. The key offerings of the company include a 4K TV built with 2nd generation AIPQ /image quality adjustment which improves picture quality by optimizing every detail and pixel of the picture.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the 52-65 inches type segment will be significant during the forecast period. The adoption of 4K TVs of this size will be influenced by the rise in disposable income in developing nations during the forecast period. Consumer spending has increased as a result of the rise in disposable income, which has also increased demand for consumer electronics like 4K TVs.
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The 52-65 inches type segment was valued at USD 34.50 billion in 2017 and continued to grow until 2021. Smart 4K TVs are one of the most popular products in middle-class markets such as India. The ownership and viewing habits of India's expanding TV universe have been influenced by the country's growing number of nuclear families. The average TV size in nuclear families across the nation has increased to 52–65 inches as a result of these developments. Moreover, the demand for 52-65 inches 4K TVs will grow rapidly in developing nations due to rising disposable income and the evolution of average-sized TV sets during the forecast period.
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APAC is estimated to contribute 40% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
APAC is anticipated to become a high-potential market for 4K TVs during the forecast period. The major market contributors in the region are nations like India, China, Japan, and South Korea. The adoption of 4K TVs in APAC is anticipated to increase due to the presence of strong vendors, rising 4K TV demand in these nations, and expanding use of smart classrooms.
Furthermore, the regional market will grow primarily as a result of the shift toward the construction of smart classrooms. The adoption of cutting-edge technology in the classroom will increase demand for 4K TVs during the forecast period. The region's government organizations are also taking initiatives that will increase the demand for 4K TVs in the educational sector, which will fuel the expansion of the market in APAC.
In 2020, the COVID-19 pandemic had a negative impact on the market in APAC. However, in 2021, COVID-19-related restrictions in the region were lifted due to the availability of vaccines. This led to the reopening of retail stores that sell 4K TVs. The demand for 4K TVs rebounded in the region in 2021. In June 2021, the overall shipment of TVs in India increased to 2.7 million units. Thus, the market of APAC is expected to grow rapidly during the forecast period.
The 4K TV market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the global 4K TV market as a part of the global consumer electronics market within the global household durables market. The parent market, the global consumer electronics market, covers products and companies engaged in the manufacturing/marketing of consumer robotics, home audio and video products, televisions, digital cameras, and related products. Our market research report has extensively covered external factors influencing the parent market growth during the forecast period.
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4K TV Market Scope |
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Report Coverage |
Details |
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Page number |
161 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 19.19% |
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Market growth 2023-2027 |
USD 183.45 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
17.54 |
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Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 40% |
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Key countries |
US, China, India, Germany, and UK |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Apple Inc., Elitelux Australia, Haier Smart Home Co. Ltd., Hisense International Co. Ltd., Koninklijke Philips NV, LG Electronics Inc., MIRC Electronics Ltd., Panasonic Holdings Corp., Roku Inc., Samsung Electronics Co. Ltd., Sharp Corp., Sichuan Changhong Electric, Skyworth Group Ltd., Sony Group Corp., TCL Electronics Holdings Ltd., Toshiba Corp., VIZIO Holding Corp., Vu Television, Westinghouse Electric Corp., and Xiaomi Communications Co. Ltd. |
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Market dynamics |
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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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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