Curved televisions market to grow by USD 7,448.43 million from 2022 to 2027; The rising popularity of large-display curved TV boosts the market - Technavio
NEW YORK, Aug. 8, 2023 /PRNewswire/ -- The global curved televisions market size is estimated to grow by USD 7,448.43 million from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 23.07% during the forecast period. However, the growth momentum will progress. APAC held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of 38%. For more insights on the historic market data (2017 to 2021) and forecast market size (2023 to 2027) - Request a sample report
Curved televisions market - Segmentation Assessment
Insights on the market contribution of various segments, including country and region wise historic data (2017 to 2021) and forecast market size (2023 to 2027) - Download a Sample Report
Curved televisions market - Market Dynamics
Such trends are very much prevalent in several countries across North America and APAC. In 2019, 25% of the televisions sold were 50 inches or above and accounted for more than half the sales. Thus, such factors drive the curved televisions market growth during the forecast period.
Leading trends influencing the market
The shifting customer preference toward better /image quality, size, and features of TVs is an emerging curved televisions market trend. Curved TVs provide advanced features of 3D compatibility, auto depth enhancement, reduction in reflection, UHD resolution, and high contrast. They also offer a more balanced and uniform view when compared to their flat counterparts.
In flat TVs, the corners of the screen are farther than the center, which makes them smaller, thereby resulting in an elongated trapezoidal view, whereas, in a curved TV, the slight curvature reduces the distortion by nearly 50% at a standard 8-foot viewing distance. Hence, such trends fuel the curved televisions market growth during the forecast period.
Major challenges hindering the market growth
The emergence of low-cost vendors challenges the curved televisions market growth. Since a high-performing curved TV is considerably expensive, various new vendors price their products competitively to position them in the market on the basis of economies of scale.
As a result, the global curved televisions market is highly fragmented due to the presence of these several vendors. In the market, global players offer products with extended additional and support features with better quality. Their products are hence placed at a higher price range. However, new players from APAC countries offer products with similar features but at a low price. Hence, such challenges hinder the curved televisions market growth during the forecast period.
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The UHD TV market size is expected to increase by USD 313.44 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 22.35%. Furthermore, this report extensively covers UHD TV market segmentations by display type (LED, QLED, and OLED), screen size (50-59 inches screen size, 60-69 inches screen size, 40-49 inches screen size, and 70 inches and above screen size), type (4K and 8K), and geography (APAC, North America, Europe, Middle East and Africa, and South America). The demand for UHD TVs is notably driving the UHD TV market growth.
The 4K TV market size is estimated to grow at a CAGR of 19.19% between 2022 and 2027. The market size is forecast to increase by USD 183.45 billion. This 4K TV market report extensively covers market segmentation by type (52-65 inches type, below 52 inches type, and above 65 inches type), application (residential, commercial, and industrial), and geography (APAC, North America, Europe, Middle East and Africa, and South America). The rising popularity of large-display televisions is notably driving the market growth.
Table of Contents
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Technology
7 Market Segmentation by Display Size
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
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