4K TV Market Trends

Growth Drivers

• Reducing Price of Electronic Goods Worldwide- According to estimates, the price of a Panasonic plasma TV in 2012 was approximately USD 2,600, whereas the cost of a Hisense 65H9F 4K LED TV in 2019 was approximately USD 590.

As new technologies are introduced, the price of electronic goods (TVs, computers, cameras) tends to fall sharply over time. Due to quantum improvements in technology, the cost of production of new technology falls considerably over time, as it becomes less expensive and occupies a lower percentage of disposable income. Thus the affordability of advanced TV's anticipated to propel the sales of 4K TV's over the forecast period.

• Rise in Personal Disposable Income- According to the Bureau of Economic Analysis, the personal income of individuals was up USD 47.0 billion (0.2%) and disposable personal income (DPI) was up USD 37.6 billion (0.2%) in July 2022. 
• Growing Demand for HD Channels- It was observed that since 2017, the number of HD channels has more than doubled in India, increasing by approximately 139% in 2019 compared to 2017.
• Increasing Expenditure By Consumers On Electronic Devices Worldwide- It has been estimated that consumers worldwide are expected to spend approximately USD 500 billion on electronic devices by the year 2022.
• Rise In The Number Of Manufacturers Launching Innovative Products- For instance, in June 2022 Samsung launched its Crystal 4K Neo TV which offers new-age consumers a mesmerizing display, compelling sound features, and a variety of smart functions designed to enhance their content viewing experience in 4K resolution.

Challenges

• High Cost Of Raw Materials
• Technological Issues Over The Period Of Time
• High Maintenance And Installation Charges

The global 4K TV’s market is segmented and analyzed for demand and supply by technology into Organic Light Emitting Diode (OLED) and Light Emitting Diode (LED). Among these segments, the Organic Light Emitting Diode (OLED) segment is anticipated to capture the largest market size in the global 4K TV’s market owing to the increasing consumption of 4K and HD content, smart TV development coupled with increasing product launches by manufacturers. For instance, LG Electronics has released a 97-inch organic light-emitting diode (OLED) TV in North America at CEDIA Expo 2022, which is the largest organic light-emitting diode TV in the world. The latest technology in display technology, OLED, has enabled the most stunning TVs in history - offering the highest level of image quality combined with the thinnest displays ever produced. Moreover, OLED will enable transparent TVs with large rollable screens in the future.