Television Market size is set to grow by USD 64.7 billion from 2024-2028, Product innovation and advances leading to portfolio extension and product premiumization boost the market, Technavio

NEW YORK, July 15, 2024 /PRNewswire/ -- The global television market size is estimated to grow by USD 64.7 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 7.85% during the forecast period. Product innovation and advances leading to portfolio extension and product premiumization is driving market growth, with a trend towards advent of 8k uhd televisions. However, lack of 4k content poses a challenge. Key market players include Apple Inc., Changhong, Elitelux Australia, Funai Electric Co. Ltd., Haier Smart Home Co. Ltd., Hisense International Co. Ltd., Koninklijke Philips N.V., Konka Group Co. Ltd., LG Electronics Inc., Micromax Informatics Ltd., MIRC Electronics Ltd., Panasonic Holdings Corp., Samsung Electronics Co. Ltd., Sharp Corp., Skyworth Group Ltd., Sony Group Corp., TCL Electronics Holdings Ltd., Videocon Industries Ltd., VIZIO Holding Corp., and Xiaomi Communications Co. Ltd.

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Market Driver

The television market is experiencing significant advancements with the introduction of 8K resolution displays. At the CES 2018, major vendors showcased 8K televisions, boasting a higher resolution standard than 4K, with approximately 8,000 horizontal pixels. While some 8K television series have been released, they are currently available at premium prices and only for custom orders. Key players like LG, Samsung, and Sony have entered the market. The growth of 8K televisions is driven by the increasing demand for high-resolution displays and enhanced content creation. The availability of 8K-compatible content is expected to fuel the market's growth in the forecast period. 

The Pay TV industry is evolving with new models like TV-as-a-Service (TVaaS) and postpaid/prepaid services gaining popularity. Acquisitions by commercial sectors and potential investors shape the future market landscapes. Traditional cable and satellite TV face competition from Internet Protocol (IP) TV. Premium content in ultra-high-definition (UHD) is a key trend. Technological segments include screens (LCD, LED, OLED), visual image, sound transmission system, and consumer electronics evolution like smart TVs, digital television, and internet-connected devices. The ecosystem includes gaming, console compatibility, smart TV enhancements, immersive technologies, eco-friendly designs, home office solutions, and bezel-less OLED displays. Content delivery, data programs, and territories are essential product types. The Pay TV industry continues to innovate, offering a wide range of entertainment and data programs. 

Discover 360° analysis of this market. For complete information, schedule your consultation - Book Here!

Market Challenges

• The adoption of Ultra High Definition (UHD) televisions is hindered by the limited availability of 4K content. Proprietary restrictions and premium costs associated with accessing 4K videos on Over-The-Top (OTT) platforms like Sky, BT, Amazon, and Netflix present challenges for consumers. The primary issues with 4K and 8K resolutions are in-home capabilities and content distribution. Broadcasters have yet to produce 4K content due to the high costs of contribution and distribution. Consequently, operators may not provide 4K UHD set-top boxes to consumers, creating a gap between demand and supply. This gap is expected to impede the growth of the global television market during the forecast period.
• The television market is evolving at a rapid pace with the emergence of internet-connected, storage-aware computers and advanced display technologies like LCD, LED, and OLED. Consumers seek immersive experiences through gaming and smart TV enhancements, requiring console compatibility and content delivery. OLED displays, bezel-less and frameless designs, and TVs as art are popular trends. Eco-friendly features, home office use, and curved and foldable displays add to the appeal. Valuation of the pay TV market, including cable, Direct-to-Home, and fiber optic services, depends on disposable incomes and emerging economies. Consumer appetite for high-definition content and smart TV capabilities drives the demand for ultra-high-definition services and content integration. Content security systems cater to viewer preferences, and residential sectors with housing units are significant markets. SpotX and other players offer innovative solutions in this space.

For more insights on driver and challenges - Request a sample report!

Segment Overview 

This television market report extensively covers market segmentation by

1. Technology 
• 1.1 UHD
• 1.2 HD
2. Display Size
• 2.1 Upto 43 inches
• 2.2 55-64 inches
• 2.3 48-50 inches
• 2.4 Greater than 65 inches
3. Display Type
• 3.1 LCD
• 3.2 OLED
4. Geography 
• 4.1 APAC
• 4.2 North America
• 4.3 Europe
• 4.4 South America
• 4.5 Middle East and Africa

1.1 UHD- The television market is a significant sector in media and entertainment. Broadcasters and streaming services compete to provide high-quality content to viewers. Advertisers invest heavily in television advertising due to its large reach. Consumers continue to spend on subscriptions and new TV technology, driving market growth. Companies focus on producing engaging content and improving user experience to attract and retain viewers. The television market is a dynamic and competitive industry that requires continuous innovation and adaptation to consumer preferences.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) - Download a Sample Report

Learn and explore more about Technavio's in-depth research reports

The global Curved Television Market is experiencing growth due to enhanced viewing experiences and aesthetic appeal. Major players are focusing on advanced technologies to capture market share. The global Smart TV Market is booming with increasing demand for internet-enabled televisions offering streaming services and smart home integration. Key players are innovating to stay competitive. The global Broadcasting Cable TV Market is undergoing transformation with the rise of digital streaming, but still holds a significant market due to widespread traditional TV consumption and regional content preferences.

Research Analysis

The Pay TV market continues to evolve, with various technological segments including Cable TV, Direct-to-Home, and Fiber optic services, catering to the insatiable consumer appetite for high-definition content. Over-the-top platforms have disrupted traditional TV, offering premium content through the internet. High-definition content and immersive technologies like Ultra-High-Definition (UHD) services are becoming the norm, with territories adopting these technological advancements at varying paces. Smart TV capabilities, OLED displays, bezel-less and frameless designs, curved displays, and even foldable displays are transforming TVs into works of art. Eco-friendly initiatives and home office integration are also emerging trends. The residential and commercial sectors are the primary markets, with businesses increasingly recognizing the value of large screens for meetings and presentations.

Market Research Overview

The Pay TV market encompasses various segments, including Cable TV, Direct-to-Home, and Fiber optic services. The valuation of this industry continues to grow, fueled by the consumer appetite for high-definition content and advanced TV capabilities. Over-the-top platforms have disrupted traditional Pay TV models, leading to the emergence of TV-as-a-Service (TVaaS) models and postpaid/prepaid services. The residential sector, with its vast housing units, remains a significant market for Pay TV, while commercial sectors offer potential for growth. Ultra-high-definition services, premium content, and territories are key technological segments shaping the Pay TV industry. Consumer electronics evolution, such as Smart TVs with screens ranging from LCD to OLED, and immersive technologies like virtual and augmented reality, are driving the demand for better visual and sound transmission systems. The future market landscape includes eco-friendly designs, home office integration, and content integration with gaming consoles. The Pay TV industry's ecosystem includes various players, from content creators and distributors to cable, satellite, and internet protocol service providers. Viewer preferences, content security systems, and acquisitions continue to shape the industry. The potential investors and future market landscapes will be influenced by technological advancements, emerging economies, and disposable incomes.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Technology
• UHD
• HD
• Display Size
• Upto 43 Inches
• 55-64 Inches
• 48-50 Inches
• Greater Than 65 Inches
• Display Type
• LCD
• OLED
• Geography
• APAC
• North America
• Europe
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio