Television Market: 40% Growth from APAC, Report on AI-Driven Market Transformation - Technavio

NEW YORK, Dec. 13, 2024 /PRNewswire/ -- The global television market size is estimated to grow by USD 64.7 billion from 2024 to 2028, according to Technavio. The market is estimated to grow at a CAGR of over 7.85% during the forecast period.

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Region Outlook

1. North America
2. Europe
3. Asia
4. Rest of World

1. APAC - APAC is estimated to contribute 40%. To the growth of the global market. The Television Market report forecasts market growth by revenue at global, regional & country levels from 2017 to 2027. 

APAC, as a significant manufacturing hub for high definition (HD) and ultra high definition (UHD) televisions, hosts numerous leading television manufacturers and vendors of essential components such as IC drivers and panel displays. This presence of prominent players, particularly in China, results in a lower average selling price (ASP) for televisions in the region compared to other areas. Consequently, the lower ASP drives higher consumer adoption. Chinese manufacturers offer UHD and HD televisions at more affordable prices compared to global brands like Samsung and LG Electronics Inc., leading to domestic demand.

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Segmentation Overview

1. Technology 
• 1.1 UHD
• 1.2 HD
2. Display Size
• 2.1 Upto 43 inches
• 2.2 55-64 inches
• 2.3 48-50 inches
• 2.4 Greater than 65 inches
3. Display Type
• 3.1 LCD
• 3.2 OLED
4. Geography 
• 4.1 APAC
• 4.2 North America
• 4.3 Europe
• 4.4 South America
• 4.5 Middle East and Africa

1.1 Fastest growing segment:

UHD televisions, also known as 4K televisions, have gained popularity due to their high resolution of 3,840 pixels x 2,160 lines (8.3 megapixels; aspect ratio 16:9). The global market for UHD televisions is expected to double by the end of the forecast period, with significant growth in countries such as China, Australia, and the US. Vendors have also introduced 8K resolution televisions, offering a horizontal resolution of 7,680 pixels and a total image dimension of 4,320 pixels. The 8K market is projected to experience the most growth due to the demand for high-resolution television sets and the need for enhanced content creation. Despite the lack of UHD content, subscription providers are addressing this issue by creating more UHD content to meet the demand. Technological advances will continue to drive the growth of the global 8K UHD television market during the forecast period. Anticipating this demand, display vendors have increased production capacity to meet consumer needs.

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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 viewing, offering premium content on-demand. UHD content, including technologies like Virtual Reality and Augmented Reality, is becoming increasingly popular. Smart TV capabilities, such as voice control and content integration, are now standard features. Eco-friendly designs, including OLED displays with bezel-less and frameless designs, are gaining traction in the residential and commercial sectors. The future of TV includes ultra-high-definition services, curved displays, foldable displays, and even TVs that double as works of art. The technological advancements in the Pay TV market are truly transforming the way we consume content.

Market 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 consumer appetite for high-definition content and advanced Smart TV capabilities. Over-the-top platforms have disrupted traditional Pay TV models, offering flexibility and affordability. Ultra-high-definition services, content security systems, and viewer preferences shape the future market landscapes. Residential sectors, particularly housing units, are significant contributors to the Pay TV industry. Spotv and other regional players cater to specific territories. Technological segments, such as cable, satellite, and internet protocol, compete for market share. Consumer electronics evolution, with screens ranging from LCD to OLED, and technologies like gaming and console compatibility, enhance the TV viewing experience. Eco-friendly and home office-friendly designs, including OLED displays, bezel-less and frameless designs, and curved displays, add to the TV's role as art. Future market landscapes include foldable displays, content integration, and potential investors from various industries. The Pay TV industry's potential growth is influenced by disposable incomes, particularly in emerging economies. The ecosystem's continuous evolution shapes the Pay TV industry, with postpaid and prepaid services catering to different consumer segments in both residential and commercial sectors.

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Key Topics Covered:

 1 Executive Summary
 2 Market Landscape
 3 Market Sizing
 4 Historic Market Size
 5 Five Forces Analysis
 6 Market Segmentation
 7 Customer Landscape
 8 Geographic Landscape
 9 Drivers, Challenges, and Trends
10 Venodr Landscape
11 Vendor Analysis
11.1 Xiaomi Communications Co. Ltd
11.2 Toshiba Corp
11.3 Haier Electronics Group Co., Ltd
11.4 VIZIO, Inc
11.5 Sansui Electric Co. Ltd.

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
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SOURCE Technavio