Global 4K Technology Market Overview
The key drivers impacting the 4K technology market are consumer demand towards big screen TV with improved image resolution and quality. In addition, the advancement in display technology is also positively impacting the market growth. For example, 4K cameras can film videos with any single frame, and a high-resolution image by 4K camera facilitates photographers to capture videos without hindering the quality. The high resolution also provides users with detailed gaming features, and 4K technology in laptops provides high storage capacity for software interfaces. Moreover, increasing disposable income of people and high demand for gaming consoles and video games contributes to 4K technology market demand in the coming years.
According to Value Market Research, the global 4K Technology market size was valued at about USD 102.5 billion in 2020 and is estimated to grow at a CAGR of around 22% during the forecast period 2021 to 2027.
The declining selling price of 4K TVs is likely to augment the need for 4K technology in the forecast period. Also, the growing efforts by key players to provide the 4K TV at a low price to increase the consumer base also positively impacting the market growth. For instance, Intel and Samsung entered into a partnership to manufacture 23.6 inches PLS 4K panels at a low price. However, limited content availability is likely to obstruct the market in the long run. In addition, the discrepancy between viewing distance and screen width impedes the market growth. Nevertheless, the market trends, rising adoption by end-users in data centers and the military sector might provide massive market opportunities to the market's key players.
The 4K technology market is widespread, with many local and international players. The market leaders follow diverse strategies to strengthen their market, such as extending product portfolio, acquisitions, contracts, amalgamation, product upgrades to raise their market share globally. The key players in the report are Asustek Computer Inc, Canon Inc, Hong Kong Skyworth Digital Holding Ltd, Lg Electronics Inc, Sharp Corporation, JVC Kenwood Corporation, Samsung Electronics Co, Ltd, Tcl Corporation, Panasonic Corporation, Innolux Corporation, Sony Corporation, Blackmagic Design Pty Ltd, and Hisense Co, Ltd.
In this research report, the 4K Technology market is segmented by product and region.
Analysis by Product:
By product, the report is segmented into TVs, monitors, digital signage, set-top boxes, smartphones, tablets, laptops, projectors, cameras, and Blu-ray players. The 4K TV segment dominates the product segment with the highest share of 50% in 2020. It is because 4K TV’s have enabled consumers to view everything on screen with crystal clear clarity along with sumptuous detail, which leads to its high adoption. Moreover, the growing consumer shift to the newest technology due to high resolution, improved lighting technology, and excellent viewing experience is contributing to the high demand for 4K TVs in the forecast period.
Analysis by Region:
In the regional outlook of the global 4K technology market, the North America region dominates with the largest market share in 2020. It is due to the early adopter of 4K technology. The Asia Pacific region is likely to grow at a significant CAGR of 30% in the forecast period. It is due to the rise in disposable income and expanding electronics market. Also, the h prevalence of the broadcasting system industry across Japan and Korea contributes to the tremendous market growth across the Asia Pacific.
Market Segmentation covered in the Report:
By Product
- TVs
- Monitors
- Digital Signage
- Set-Top Boxes
- Smartphones
- Tablets
- Laptops
- Projectors
- Cameras
- Blu-Ray Players
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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