Deepak v. asked 2 years ago
Recent report published by research nester titled“4K TV’s Market: Global Demand Analysis & Opportunity Outlook 2024”delivers detailed overview of the 4K TV’s market in terms of market segmentation by screen size, technology, screen type, distribution channel, price range, by end-users and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global 4K TV’s market is expected to grow at a CAGR of 18.1% over the forecast period i.e. 2017-2024. The market of 4K TV’s is driven by various factors such as rising adoption of innovative technology and swelled disposable income of the population all across the globe. By geography, with 41% in 2016, Asia-Pacific region accounted for the largest market share followed by North America.
Asia-Pacific region is anticipated to continue its dominance over the forecast period. This region is most lucrative market across the globe owing to emerging economies such as India and China. Further, product innovation by manufacturers in China and South Korea are fuelling the growth of 4K TV’s in this region. Besides this, rise in per capita income in this region is also envisioned to flourish the growth of 4K TV’s market.
In Q4 2021, USA current-account deficit widened stood at $224.8 billion. However, in Q1 22, CAD rose by 29.6%, reached to $291.4 billion, adding $66.6 billion to the gap. Export of good and services increased by $25.7 billion to reach $1.03 trillion in the first quarter of 2022. However, goods and services deficit was $79.6 billion in June, down $5.3 billion from $84.9 billion in May, revised- reflecting some sight of relief. On the other hand, annual inflation rate in the country hit 8.5%. Energy CPI surged by 32.9% in July 2022, inflating the cost of logistic and some signs to disrupt supply chain whilst electricity cost upsurged by 15.2%, highest since Feb 2006. Apart from that, In July 2022, existing US home sales declined 5.9% to 4.81 million (seasonally adjusted annual rate), the lowest since May of 2020 and below market expectations of 4.89 million. As mortgage rate touches to peak 6%, sales for houses declined for a sixth consecutive month. Global energy crises to remain at focal point, pushing consumers to spend less on the products and services and save more.
On the other hand, the worst is expected to be seen in the European countries especially during 2022 winters. The energy and gas crises has already started grappling the region where in many Western European countries including Germany is looking for coal fired solutions to tackle the gas supply shortage, created by Russian-Ukraine conflict.
Amidst global concerns, market players have started looking for safe investments by holding on to the new technology and product launches. Factors like currency translation, disruption in global supply chain, Anti-China sentiments brewing across the globe, slowdown in Chinese economy, inflated products prices, USD getting stronger every week, decreasing purchasing power and strict measures taken by central banks/institutions across the world to ensure less spending and more saving, could hit the demand for the product and service badly in near future.
North America stood at second position in revenue terms in 4K TV’s across the globe. Further, North America region is projected to be the fastest growing 4K TV’s market by the end of 2024. Further, evolution of consumer electronic industry and increasing demand for high-end home products are anticipated to foster the demand for 4K TV’s in this region. U.S. is anticipated to capture highest market share in this region over the forecast period. Europe region is the third largest 4K TV’s market owing to growing consumer preference from HD to 4K technology for better imaging. The major countries witnessing the augmented demand for 4K television include Germany, U.K. and France.
North America stood at second position in revenue terms in 4K TV’s across the globe and is projected to be the fastest growing 4K TV’s market by the end of 2024. Owing to rising popularity of ultra- high definition televisions, the Middle East Africa is also expected to witness a tremendous growth over the forecast period.
Advancement in Technology Reflects Significant Opportunities
Enhancement and advances in 4K TV’s with advanced technologies and improved designs are expected to drive the growth of the market in the long run. Factors such as advancement in graphic technology in television and growing demand for high end electronics combined with huge investment by industry players in technology advancements are envisioned to expand the growth of 4K TV’s market by the end of 2024.
North America stood at second position in revenue terms in 4K TV’s across the globe and is projected to be the fastest growing 4K TV’s market by the end of 2024. Owing to rising popularity of ultra- high definition televisions, the Middle East Africa is also expected to witness a tremendous growth over the forecast period.
Advancement in Technology Reflects Significant Opportunities
Enhancement and advances in 4K TV’s with advanced technologies and improved designs are expected to drive the growth of the market in the long run. Factors such as advancement in graphic technology in television and growing demand for high end electronics combined with huge investment by industry players in technology advancements are envisioned to expand the growth of 4K TV’s market by the end of 2024.
This report also provides the existing competitive scenario of some of the key players of the 4K TV’s market which includes company profiling of Samsung, LG Electronics, Sony Corporation, Hisense, Sharp Corporation, Philips, Panasonic, Vizio, Toshiba Corporation and TCL.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the 4K TV’s market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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