4K Display Resolution Market Size 2019, Growth Analysis, Statistical Forecasts 2024 with Entertainment and Media Segment to Hold Major Share
Global 4K Display Resolution Market 2019-2024 Growing at a CAGR of 23%. The study provides market size, ongoing trends, drivers, risks, opportunities, and major market segments that helps interested audience to understand the industry and make the strategies for their business growth accordingly.
Dallas, United States – September 30, 2019 /MarketersMedia/ —
Market Overview
The 4K display resolution market was estimated at USD 39.02 billion in 2018 and is expected to register a CAGR of 23% over the forecast period (2019-2024). The 4K display innovations are expected to upgrade the television viewing experience of the consumers, by providing them with video quality that is twice as good as HD, and four times that of regular television. The demand for higher quality display resolutions is gaining momentum due to the desire for unusual consumer experience with highly defined pixel quality like 4K display resolution.
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– Many players are entering into the market due to which the market trend is towards fragmentation. The decline in manufacturing cost of 4K display’s is driving the market.
– To facilitate the adoption of 4K display products by consumers, vendors are integrating the technology into their existing product lines with moderate replacement costs.
– The Asia-Pacific region is experiencing rapid urbanization with 33% and 55% for India and China respectively. This trend is projected to continue in coming years and to bring unprecedented demographic, economic and social shifts. With an increase in the standard of living, the demand for premium products like 4K display is booming.
Scope of the Report
4K resolution display gives the sharpest picture quality, the display is almost four times as many pixels as high definition display. The study is restricted to 4K display panels used in various products like monitors, smart TVs, smartphones. Finished/Final products such as 4K UHD, 4K OLED TVs are not considered.
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Key Market Trends
Entertainment and Media Segment to Hold Major Share
– Owing to various factors, such as growing demand for the better gaming experience, enriched entertainment, and the increasing availability of 4K content, the Entertainment & media industry is expected to remain as one of the primary applications of 4K technology.
– Modern consumers are showing an inclination towards TVs with 4K resolution, due to the accurate color and color gamut support for Graphics designing, photo editing and examining the fine details of high-resolution images.
– Major console manufacturers, like Microsoft and Sony, have released 4K enabled consoles to offer a more immersive and advanced gaming experience, which are expected to witness sales of 4K TVs and monitors to grow.
Asia-Pacific to Retain Leading Market Share Position
– Japan, South Korea, and Taiwan represent a significant share of the 4K TV market with players, such as Samsung, LG, and Sony. Moreover, the increasing sales of consumer electronics in the region are driving the demand for high-quality digital advertisements.
– The reduction in ASP of 4K TVs due to declining manufacturing costs is pushing the market to its extent with the technology. Key Players are now adopting strategies to launch new products in partnerships with other tech giants to gain more market share.
– Further, a growing retail sector, increasing advertising expenditures, improving public and private infrastructure, and the associated benefits offered by 4K digital signage systems are boosting its market in the region.
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Competitive Landscape
The 4K display resolution market is relatively fragmented and consists of several major players. In terms of market share, few of the major players currently dominate the market. However, with decreasing manufacturing cost with high competition, companies are adopting product launch strategies to improve and gain more market share.
– Apr 2019 – LG chemical and material division has purchased more than 500 patented assets from Delaware-headquartered DuPont mostly pertaining to soluble organic light-emitting diodes (OLED) and plans to develop that technology into its next-gen displays.
– Feb 2019 – Sony launched the first ever 21:9 4K display smartphone Xperia 1 to come-back into the smartphone market after back to back severe losses in the smartphone segment.
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Organization: Orbis Research
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