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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 growth of the market depends on several factors, including increasing demand for augmented experience, product innovation and advances leading to portfolio extension and product premiumization, and the rising popularity of large-display curved TV.
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 curved TV is notably driving the market growth, although factors such as the emergence of low-cost vendors impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving the market growth is the rising popularity of large-display curved TVs. There is a growing popularity of large displays, especially from the consumer segment which is expected to significantly drive the market growth. Even though the average television size globally is 40 inches, several vendors are now offering curved TV with a screen size above 80 inches.
This trend is very much prevalent in several countries across North America and APAC. For instance, in 2019, 25% of the televisions sold were 50 inches or above and accounted for more than half the sales. As per the data, the versions UHD/4K television is mostly preferred by consumers over the HD version for all 36-inch or larger screens as the higher resolution provided by a UHD television will provide consumers with a better experience than that provided by television screens smaller than 36 inches. Hence, such factors are expected to drive market growth during the forecast period.
A key factor shaping the market growth is the shifting customer preference toward better image quality, size, and features of TVs. There is a growing adoption of curved TVs as consumers are not only expecting better features but also better image quality. Factors such as curved TVs that provide advanced features of 3D compatibility, auto depth enhancement, reduction in reflection, UHD resolution, and high contrast are expected to drive the market growth significantly.
In addition, curved designs offer a more balanced and uniform view when compared to their flat counterparts. For instance, in flat TVs, the corners of the screen are farther than the center, which makes them smaller, thereby resulting in an elongated trapezoidal view. However, in a curved TV, the slight curvature reduces the distortion by nearly 50% at a standard 8-foot viewing distance. Hence such factors are expected to drive the market growth during the forecast period.
The emergence of low-cost vendors is one of the key challenges hindering market growth. As high-performing curved TV is considerably expensive, several new vendors are pricing their products competitively to position them in the market based on economies of scale and hence, the global curved TV market is highly fragmented due to the presence of these several vendors.
There are mainly two kinds of drivers specifically global and local or new vendors. Global players offer products with extended additional and support features with better quality, and thus, the products are high-priced, whereas new players from APAC countries offer products with similar features but at a low price. Moreover, there is an increasing popularity among cost-driven consumers, especially in price-sensitive APAC countries, resulting in high demand. Thus, this has put pressure on global vendors to lower their prices which can negatively affect the market. Hence, such factors are expected to hinder the market growth during the forecast period.
The market 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 Market Customer Landscape
Players 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.
LG Electronics Inc: The company offers curved televisions such as Curved OLED 4K Ultra HD TV and LG 55EC930T FHD Curved OLED Cinema 3D Smart TV.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, 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 UHD segment will be significant during the forecast period. One of the major factors significantly driving the Ultra HD (UHD) curved TV segment is the increasing demand for better viewing angles in the broadcast industry. Factors such as superior picture clarity, high resolution, broader field of view, and extended color range have increased their market demand globally.
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The UHD segment was valued at USD 1,011.43 million in 2017 and continued to grow until 2021. One of the key factors that are significantly contributing to the growth of the segment is the emergence of 4K UHD TVs. Furthermore, several collaborations among stakeholders are also fuelling the sales of the 4K UHD TVs in the region. For instance, The UHD alliance comprises numerous manufacturers, technology companies, and Hollywood studios that follow a collective goal to achieve 4K video quality. Also, leading broadcast companies such as Netflix Inc. (Netflix) are pioneers in streaming 4K UHD content due to the popularity of this format. Therefore, factors such as rising product innovations and advances leading to portfolio extension and product premiumization, increasing demand for UHD curved TVs, and the growing popularity of large-display are expected to significantly drive the market growth during the forecast period.
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APAC is estimated to contribute 38% 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. Factors such as APAC is a manufacturing hub for various electronic devices, including curved TVs, with the presence of many leading manufacturers headquartered in the region significantly fuelling the market growth in the region. As the APAC region has many prominent vendors of IC drivers and panel displays, as well as OEMs, especially in China has resulted in a lower ASP of curved TVs in the region compared with that in other regions. Owing to this lower adoption of ASP led to increasing demand for curved TVs by consumers. Also, curved TVs are sold at a cheaper price by Chinese manufacturers when compared to other global brands such as Samsung and LG Electronics Inc. (LG Electronics), the domestic demand is high. Hence, such factors are expected to drive market growth during the forecast period.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the market growth and trends opportunities from 2017 to 2027.
The Market is driven by the convergence of entertainment and education, offering institutions and consumers a unique viewing experience. These TVs feature ultra-high definition (UHD) resolution, reducing reflections for immersive content consumption. Market drivers include the advantages of curved TVs, such as reduced reflection, which enhances viewing angles and provides a more immersive experience. However, the market faces restraints like the high cost of these TVs and the presence of alternative technologies.
The shift in customer preferences towards unconventional and high-level technologies has led to the adoption of curved TVs. These TVs offer advantages like durability, longer life, and environmentally friendly technology, with efficient energy usage. The market is characterized by technological advancements, with OLED televisions leading the way. Customer expectations are driving R&D expenditure, leading to innovations that cater to emerging revenue pockets. The presence of domestic and localized market players adds to the market's dynamic nature.
Curved Televisions Market Scope |
|
Report Coverage |
Details |
Page number |
170 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 23.07% |
Market growth 2023-2027 |
USD 7,448.43 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
20.5 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 38% |
Key countries |
US, China, South Korea, India, and Germany |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Changhong, CloudWalker Streaming Technologies Pvt. Ltd., Haier Smart Home Co. Ltd., Hisense International Co. Ltd., JVCKENWOOD Corp., Koninklijke Philips NV, LG Electronics Inc., Loewe Technology GmbH, Nimble Holdings Co. Ltd., Panasonic Holdings Corp., PLR IP Holdings LLC, Samsung Electronics Co. Ltd., Sceptre Inc., Sharp Corp., Skyworth Group Ltd., Sony Group Corp., Stanlee India Enterprises Pvt. Ltd., TCL Electronics Holdings Ltd., Vu Television, and Xiaomi Communications Co. Ltd. |
Market dynamics |
Parent market analysis, Market forecasting, 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 market forecast period. |
Customization purview |
If our market research report has not included the data you are looking for, you can reach out to our analysts and get customized segments. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Technology
7 Market Segmentation by Display Size
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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