DUBAI, U.A.E, Aug. 5, 2020 /PRNewswire/ -- The global outdoor TV market is slated to expand at a CAGR of 3.2% from 2020 to 2030, according to Future Market Insights.
Growing demand for television viewing in outdoor settings such as gardens, courtyards, hotel lobbies and open-air restaurants is bolstering outdoor TV adoption. In recent years, outdoor dining in restaurants has increased substantially, attributed to hectic lifestyles. These consumers demand visual entertainment while dining, bolstering demand for outdoor TV sets.
Outdoor television sets are equipped to withstand hostile climatic conditions. Additionally, they are endowed with scratch-resistant panels which offer a crisp and lucid picture quality. They are also equipped to filter out unwanted sources of reflection.
Outdoor TVs are also becoming popular in the wake of the rising trend of hosting parties and entertainment programs in home-induced outdoor settings, such as poolside parties or courtyard barbecues.
"The global outdoor TV market will remain on a positive trajectory as consumers constantly demand ultra-high quality sound and motion-picture, prompting manufacturers to introduce technological advancements," says an FMI analyst.
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Key Takeaways from FMI's Outdoor TV Market
- Outdoor TV market shall surpass US$ 500 Mn by 2025
- Commercial outdoor TV sales will record the maximum incline due to high incidence of outdoor entertainment activities
- LED outdoor TV sets will experience immense popularity attributed to its high motion-picture quality
- High demand is being witnessed across North America, followed by Asian countries
Outdoor TV Market Key Trends
- Live streaming of international sporting events is catalyzing outdoor TV market growth due to want for a stimulating ambience
- Demand in residential sector is increasing amid preference for hosting outdoor parties
- Heightened sales is providing nano-technology companies to provide solutions to outdoor TV players, increasing their revenue prospects
- COVID-19 has induced temporary bottlenecks due to a decline in outdoor activities, with demand poised to rebound in the long-run
Outdoor TV Market- Region-wise Analysis
- East Asia will emerge as a revenue ecosystem for the outdoor TV market, with major demand coming from China
- The hosting of the 2022 Olympic games is motivating market players to expand their investments in the East Asian giant
- Intense competitive rivalry shall render Europe & South Asia lucrative revenue guzzlers
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Outdoor TV Market- Competitive Landscape
Prominent players in the global outdoor TV market include SunBrite TV, Oolaa, Platinum, Mirage Vision, Seura, The TV Shield, SkyVue, Cinios, Shenzen WTV Technology, Sumavision, Changhong, Luxurite, AquaLite TV, Dish and PeerLess AV among others. Product innovations are on the top of these aforementioned players' market expansion strategies list.
In April 2020, Changhong Electric Holding Group launched its new 5G-8K TV products offering high speed, low latency and enhanced capacity. These TVs are equipped with the world's first 5G-powered video modules. The company is also in talks with Huawei to introduce ultra HD television broadcast equipment for the 2022 Olympic Games.
In a similar vein, SkyVue markets the 4K HDR True Outdoor TV series which have the 55'' 400 nit, 55'' 600 nit and 60'' 400 nit variants. It also manufactures the 55'' 1,500 nit and 2,500 nit Optically Bonded Outdoor TVs.
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Outdoor TV Market Taxonomy
- Less than 40 inches
- 40-50 inches
- 50-60 inches
- 60-70 inches
- 70 inches & above
- Specialty Stores
- Multi-brand Stores
- Independent Small Stores
- Convenience Stores
- Other Sales Channels
- Rest of Latin America
- Nordic Countries
- Rest of Europe
- Rest of South Asia
- Hong Kong
- South Korea
- New Zealand
Middle East & Africa
- South Africa
- Northern Africa
- Rest of MEA
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Get Valuable Insights into Outdoor TV Market
Future Market Insights, in its new offering, provides an unbiased analysis of the global outdoor TV market, presenting historical demand data (2015-2019) and forecast statistics for the period from 2020-2030. The study divulges compelling insights into the market through three key segments across six major regions. It offers qualitative as well as quantitative insights on the prominent trends influencing growth outlook in the aforementioned forecast period.
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SOURCE Future Market Insights