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