NEW
YORK, July 15, 2024 /PRNewswire/ -- The global
television market size is estimated to grow by USD 64.7 billion from 2024-2028, according to
Technavio. The market is estimated to grow at a CAGR of over 7.85%
during the forecast period. Product innovation and advances leading
to portfolio extension and product premiumization is driving
market growth, with a trend towards advent of
8k uhd televisions. However, lack of
4k content poses a challenge. Key
market players include Apple Inc., Changhong, Elitelux Australia,
Funai Electric Co. Ltd., Haier Smart Home Co. Ltd., Hisense
International Co. Ltd., Koninklijke Philips N.V., Konka Group Co.
Ltd., LG Electronics Inc., Micromax Informatics Ltd., MIRC
Electronics Ltd., Panasonic Holdings Corp., Samsung Electronics Co.
Ltd., Sharp Corp., Skyworth Group Ltd., Sony Group Corp., TCL
Electronics Holdings Ltd., Videocon Industries Ltd., VIZIO Holding
Corp., and Xiaomi Communications Co. Ltd.
Get a detailed analysis on regions, market
segments, customer landscape, and companies- View the
snapshot of this report
Television Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
7.85%
|
Market growth
2024-2028
|
USD 64.7
billion
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
7.09
|
Regional
analysis
|
APAC, North America,
Europe, South America, and Middle East and Africa
|
Performing market
contribution
|
APAC at 40%
|
Key
countries
|
China, US, South Korea,
India, and Germany
|
Key companies
profiled
|
Apple Inc., Changhong,
Elitelux Australia, Funai Electric Co. Ltd., Haier Smart Home Co.
Ltd., Hisense International Co. Ltd., Koninklijke Philips N.V.,
Konka Group Co. Ltd., LG Electronics Inc., Micromax Informatics
Ltd., MIRC Electronics Ltd., Panasonic Holdings Corp., Samsung
Electronics Co. Ltd., Sharp Corp., Skyworth Group Ltd., Sony Group
Corp., TCL Electronics Holdings Ltd., Videocon Industries Ltd.,
VIZIO Holding Corp., and Xiaomi Communications Co. Ltd.
|
Market Driver
The television market is experiencing significant advancements
with the introduction of 8K
resolution displays. At the CES 2018, major vendors showcased
8K televisions, boasting a higher
resolution standard than 4K, with
approximately 8,000 horizontal pixels. While some 8K television series have been released, they are
currently available at premium prices and only for custom orders.
Key players like LG, Samsung, and Sony have entered the market. The
growth of 8K televisions is driven by
the increasing demand for high-resolution displays and enhanced
content creation. The availability of 8K-compatible content is expected to fuel the
market's growth in the forecast period.
The Pay TV industry is evolving with new models like
TV-as-a-Service (TVaaS) and postpaid/prepaid services gaining
popularity. Acquisitions by commercial sectors and potential
investors shape the future market landscapes. Traditional cable and
satellite TV face competition from Internet Protocol (IP) TV.
Premium content in ultra-high-definition (UHD) is a key trend.
Technological segments include screens (LCD, LED, OLED), visual
image, sound transmission system, and consumer electronics
evolution like smart TVs, digital television, and
internet-connected devices. The ecosystem includes gaming, console
compatibility, smart TV enhancements, immersive technologies,
eco-friendly designs, home office solutions, and bezel-less OLED
displays. Content delivery, data programs, and territories are
essential product types. The Pay TV industry continues to innovate,
offering a wide range of entertainment and data programs.
Discover 360° analysis of this market. For
complete information, schedule your consultation - Book
Here!
Market Challenges
- The adoption of Ultra High Definition (UHD) televisions is
hindered by the limited availability of 4K content. Proprietary restrictions and premium
costs associated with accessing 4K
videos on Over-The-Top (OTT) platforms like Sky, BT, Amazon, and
Netflix present challenges for consumers. The primary issues with
4K and 8K resolutions are in-home capabilities and
content distribution. Broadcasters have yet to produce 4K content due to the high costs of contribution
and distribution. Consequently, operators may not provide
4K UHD set-top boxes to consumers,
creating a gap between demand and supply. This gap is expected to
impede the growth of the global television market during the
forecast period.
- The television market is evolving at a rapid pace with the
emergence of internet-connected, storage-aware computers and
advanced display technologies like LCD, LED, and OLED.
Consumers seek immersive experiences through gaming and smart TV
enhancements, requiring console compatibility and content delivery.
OLED displays, bezel-less and frameless designs, and TVs as art are
popular trends. Eco-friendly features, home office use, and curved
and foldable displays add to the appeal. Valuation of the pay TV
market, including cable, Direct-to-Home, and fiber optic services,
depends on disposable incomes and emerging economies. Consumer
appetite for high-definition content and smart TV capabilities
drives the demand for ultra-high-definition services and content
integration. Content security systems cater to viewer preferences,
and residential sectors with housing units are significant markets.
SpotX and other players offer innovative solutions in this
space.
For more insights on driver and
challenges - Request a sample report!
Segment Overview
This television market report extensively covers market
segmentation by
- Technology
- Display Size
- 2.1 Upto 43 inches
- 2.2 55-64 inches
- 2.3 48-50 inches
- 2.4 Greater than 65 inches
- Display Type
- Geography
- 4.1 APAC
- 4.2 North America
- 4.3 Europe
- 4.4 South America
- 4.5 Middle East and
Africa
1.1 UHD- The television market is a significant sector in
media and entertainment. Broadcasters and streaming services
compete to provide high-quality content to viewers. Advertisers
invest heavily in television advertising due to its large reach.
Consumers continue to spend on subscriptions and new TV technology,
driving market growth. Companies focus on producing engaging
content and improving user experience to attract and retain
viewers. The television market is a dynamic and competitive
industry that requires continuous innovation and adaptation to
consumer preferences.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data
(2017-2021) - Download a Sample Report
Learn and explore more about Technavio's in-depth research
reports
The global Curved Television Market is experiencing growth due
to enhanced viewing experiences and aesthetic appeal. Major players
are focusing on advanced technologies to capture market share. The
global Smart TV Market is booming with increasing demand for
internet-enabled televisions offering streaming services and smart
home integration. Key players are innovating to stay competitive.
The global Broadcasting Cable TV Market is undergoing
transformation with the rise of digital streaming, but still holds
a significant market due to widespread traditional TV consumption
and regional content preferences.
Research Analysis
The Pay TV market continues to evolve, with various
technological segments including Cable TV, Direct-to-Home, and
Fiber optic services, catering to the insatiable consumer appetite
for high-definition content. Over-the-top platforms have disrupted
traditional TV, offering premium content through the internet.
High-definition content and immersive technologies like
Ultra-High-Definition (UHD) services are becoming the norm, with
territories adopting these technological advancements at varying
paces. Smart TV capabilities, OLED displays, bezel-less and
frameless designs, curved displays, and even foldable displays are
transforming TVs into works of art. Eco-friendly initiatives and
home office integration are also emerging trends. The residential
and commercial sectors are the primary markets, with businesses
increasingly recognizing the value of large screens for meetings
and presentations.
Market Research Overview
The Pay TV market encompasses various segments, including Cable
TV, Direct-to-Home, and Fiber optic services. The valuation of this
industry continues to grow, fueled by the consumer appetite for
high-definition content and advanced TV capabilities. Over-the-top
platforms have disrupted traditional Pay TV models, leading to the
emergence of TV-as-a-Service (TVaaS) models and postpaid/prepaid
services. The residential sector, with its vast housing units,
remains a significant market for Pay TV, while commercial sectors
offer potential for growth. Ultra-high-definition services, premium
content, and territories are key technological segments shaping the
Pay TV industry. Consumer electronics evolution, such as Smart TVs
with screens ranging from LCD to OLED, and immersive technologies
like virtual and augmented reality, are driving the demand for
better visual and sound transmission systems. The future market
landscape includes eco-friendly designs, home office integration,
and content integration with gaming consoles. The Pay TV industry's
ecosystem includes various players, from content creators and
distributors to cable, satellite, and internet protocol service
providers. Viewer preferences, content security systems, and
acquisitions continue to shape the industry. The potential
investors and future market landscapes will be influenced by
technological advancements, emerging economies, and disposable
incomes.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Technology
-
- Display Size
-
- Upto 43 Inches
- 55-64 Inches
- 48-50 Inches
- Greater Than 65 Inches
- Display Type
-
- Geography
-
- APAC
- North America
- Europe
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
View original content to download
multimedia:https://www.prnewswire.com/news-releases/television-market-size-is-set-to-grow-by-usd-64-7-billion-from-2024-2028--product-innovation-and-advances-leading-to-portfolio-extension-and-product-premiumization-boost-the-market-technavio-302196418.html
SOURCE Technavio