4K2K TV: Key market research findings
- Growing attractiveness towards large displays drives market growth
- APAC dominates the market grographically
- Key vendors – Hisense, LG, Panasonic, Samsung, and Sony
Technavio’s market research analysts estimate the global 4K2K TV market to reach almost 208 million units by 2020. The market is primarily driven by the increasing preference for large displays amongst consumers. The demand for large-screen 4K2K TVs is increasing as 4K content does not pixelate. Several content providers such as Netflix are also streaming 4K content. As the 4K2K TVs support smart functionalities, a user can directly stream the videos on TV. At present, the APAC region accounts for almost 79% of the market share to dominate the global 4K2K TV market. The concentration of leading vendors of IC drivers, panel displays, and original equipment manufacturers (OEMs) in this region is the primary driver for market growth in APAC.
The new market research report from Technavio presents a breakdown and analysis of the global 4K2K TV segments based on display size.
“A rise in the number of Chinese players in the market is the primary driver for growth in the market. The increasing productivity and efficiency of Chinese players is posing a threat to well-established South Korean and Taiwanese players. For instance, Novatek, the largest Taiwan-based manufacturer and supplier of driver ICs to 4K2K TV manufacturers, is likely to lose its share to Himax, a Chinese manufacturer of driver ICs. Besides, they are investing largely in their facilities for enhanced production capacity. The Chinese government is supporting these players by increasing the import duty on LCDs and LED TVs, resulting in an increase in the price of other brands,” says Ujjwal P. Doshi, Lead Analyst, Media & Entertainment, Technavio Research.
During 2015, the 60-69-inch segment accounted for more than 64% of the overall market share to dominate the global 4K2K TV market. The primary reason for the increased adoption of these display sizes is better clarity of 4K content on large screens. This is also projected to cause a decline in the demand for 40-49-inch segment as content providers are steadily transitioning to 4k content.
The key vendors in the market include Hisense, LG, Panasonic, Samsung, and Sony. The market is highly competitive because of the presence of many large players who compete in terms of features, technology, display, and price. Competition in the market is expected to intensify with increasing focus on technological advances. To sustain in the competitive environment, vendors are investing in planning, designing, developing, acquiring new players, and expanding the existing facilities.
A more detailed analysis is available in the Technavio report, Global 4K2K TV Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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