The TV industry has been under major changes these years and the revolution has come with 4K. The picture quality and immersion in 4K TVs have drawn consumers worldwide. This blog covers the 4K TV market in detail — from its trends to market size and outlook.
Market Overview and Growth Drivers
For a few reasons, the 4K TV market is expanding like a rocket:
Technology Developments: Rapid development of displays like OLED, QLED and so on have made it possible to produce top-quality 4K TVs at very affordable costs.
Content Distribution: There is a lot more 4K content (movies, TV shows, games etc) and this has further driven the market.
Customers Want: People are expecting better TV, and 4K TVs are a vast improvement over regular HDTV.
Market Size and CAGR
The 4K TV Market size is projected to reach US$ 1076.4 million by 2031 from US$ 191.34 million in 2023. The market is expected to register a CAGR of 24.1% during 2023–2031
Key Market Trends
Premiumization: The end users will pay a premium for premium 4K TVs equipped with HDR, Dolby Vision and AI-powered picture processing.
Huge Display Sizes: People are increasingly wanting large 4K TVs, especially for their living rooms and home theatres.
- Smart TV — 4K televisions are now often loaded with smart technologies to stream, voice control and many other smart features for the home.
Market Segmentation
The market can be segmented based on:
By Screen Size
- Below 52 Inches
- 52 65 Inches
- Above 65 inches
By End Use
- Residential
- Commercial
Conclusion
The 4K TV market has changed the media we consume. The technology will get better and we will see more and better 4K TVs with amazing picture quality, audio, and other advanced features. A 4K TV will bring the best of home entertainment whether you are a casual movie fan or a tycoon.
About The Insight Partners
The Insight Partners is among the leading market research and consulting firms in the world. We take pride in delivering exclusive reports along with sophisticated strategic and tactical insights into the industry. Reports are generated through a combination of primary and secondary research, solely aimed at giving our clientele a knowledge-based insight into the market and domain. This is done to assist clients in making wiser business decisions. A holistic perspective in every study undertaken forms an integral part of our research methodology and makes the report unique and reliable.
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