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Rising Digitization of Television Networks to Propel the Global Consumer Electronics Market Through 2020, Reports TechnavioTechnavio research analysts are forecasting positive growth for many segments of the global consumer electronics market over the next four years as several markets including cloud DVR, Bluetooth speaker, and 4K2K TV, will witness an increase in revenues. A detailed analysis carried out by Technavio researchers show 4K2K TV as the latest revolution in TV technology and the global market is set to grow tremendously at a CAGR of about 34% during the period 2016-2020. Some of the most prominent features like the wide field of view, higher resolution, sharp pictures, extended color range, higher contrast, and enhanced motion portrayal (progressive scan at high frame rates) are the unique selling propositions (USPs) of these TVs. The majority of these TVs use LCD panel as they are cost efficient. The continuous decline in the average selling prices (ASPs) of 4K2K coupled with the rising popularity of 4K UHD content is expected to boost the growth prospects of this market during the forecast period. The 4K2K TV comes in the following display sizes:
Ujjwal Doshi, a lead analyst at Technavio for research on media and entertainment, says, "The 60-69 inches displays were the largest segment of the market in 2015 and accounted for more than 34% of the total market share. One of the major reasons for the highest adoption of these display sizes is that the clarity of 4K content is best on large screens, due to which their demand is expected to rise in the coming years." Apart from the 4K2K TV market, the Bluetooth speaker market is another fast-trending segment of the consumer electronics market. In terms of revenue, the global Bluetooth speaker market is expected to grow at a CAGR of close to 33% during the period 2016-2020. An important factor that will spur the prospects for growth in this market is the ability of Bluetooth speakers to stream audio content wirelessly. These speakers need no wiring and consume less space when compared to home theaters. Since these speakers run on batteries, they are highly suitable for outdoor purposes. Technavio's market research analysts predict the growing trend of having speakers in all the rooms to expedite the growth of the Bluetooth speakers market over the next few years. The Americas will continue to lead the market for Bluetooth speakers as this region is the largest adopter of the latest technologies and the leader in leveraging consumer electronics. Also, consumers in this region use Bluetooth speakers as a style statement, which will result in its high demand over the next few years. View Technavio's entire consumer electronics market report library The rising digitization of television networks has led to the evolution of cloud DVR, which is one of latest technology in the home entertainment market. In recent times, governments from across the globe have started mandating the installation of STBs in countries like India and China, where a high proportion of TVs are sold. Digitization helps service providers to offer more channels at a lower cost and also provides consumers with HD audio and video at a lower price. As digitization offers consumers with a wider range of channels and better picture quality, it will encourage consumers to use cloud DVR services. This recent increase in the preference for digitization will, in turn, augment the demand for cloud DVR during the estimated period. Technavio's market research analyst has estimated the global cloud DVR market to grow profoundly at a CAGR of almost 31% from 2016-2020. Some of the key vendors for the consumer electronics market include ARRIS, Alcatel-Lucent, and Cisco for cloud DVR; Beats Electronics, Bose, and Harman for Bluetooth speaker; and Hisense (News - Alert), LG, and Panasonic for 4K2K TV. Browse related reports:
Purchase these three reports for the price of one by becoming a Technavio subscriber. Subscribing to Technavio's reports allows you to download any three reports per month for the price of one. Contact [email protected] with your requirements and a link to our subscription platform. About Technavio Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies. Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users. If you are interested in more information, please contact our media team at [email protected]. View source version on businesswire.com: http://www.businesswire.com/news/home/20160607005120/en/ |
