4K Technology Market Segment Analysis – By Product
In 2020, the TV segment had a market share of more than 35%. Television has the most market share in the global 4k technology market. Users can now view with crystal clear clarity and elegant detail thanks to 4K TVs. With improved lighting technology, users can see the details of images and videos that appear on the screen. The growth of the 4K TV market is being fuelled by the shift to cutting-edge technology, which provides high resolution and an excellent viewing experience. With the advent of smart entertainment technologies such as HD Streaming services, television sets must be updated to accommodate the superior content delivered by HD streams. 4K televisions are evolved versions of Full High Definition (Full HD) and Ultra High Definition (UHD) televisions that support the popular HD content stream. The display resolution is used to categorise televisions in this category. Full HD televisions have a resolution of 1920 x 1080 pixels, while UHD television displays have a resolution of 3840 x 2160 pixels. 4K televisions can display a resolution of 4096 x 2160 pixels.
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4K Technology Market Segment Analysis By Vertical
By Vertical, entertainment and media industry segment is analysed to grow at highest CAGR of 7.2% during the forecast period 2021-2026. The entertainment and media industry is projected to remain one of the primary applications of 4K technology due to many factors such as growing desire for a better gaming experience, enriched entertainment, and the increasing availability of 4K content. Due to the obvious accurate colour and colour gamut support for graphics creating, photo editing, and inspecting the fine details of high-quality photos, modern customers are gravitating toward 4K resolution TVs. Major console manufacturers, such as Microsoft and Sony, have introduced 4K consoles to provide a more immersive and advanced gaming experience, which is likely to drive sales of 4K TVs and monitors.
4K Technology Market Segment Analysis – Geography
APAC is analysed to be the major region with a share of 35.2% in 2020 for the 4K Technology Market. Japan, South Korea, and Taiwan account for a sizable portion of the 4K TV market, with players such as Samsung, LG, and Sony. Furthermore, rising consumer electronics sales in the region are fuelling demand for high-quality digital marketing. The decrease in the ASP of 4K TVs due to falling manufacturing costs is driving the market to its limit with the technology. Key players are now implementing tactics to develop new goods in collaboration with other IT giants in order to increase market share. Furthermore, growing retail sector, increasing advertising expenditures, improving public and private infrastructure, and the associated benefits offered by 4K digital signage systems are boosting its market in the region.
4K Technology Market Drivers
Advancement in Technology:
The upcoming technological revolution is reshaping the market for higher-resolution exhibits. The term “4K” refers to pixel size. It has a horizontal resolution of 3840 or 4096 pixels and a vertical resolution of 2190 pixels. The main advantage of 4K technology is that it has a higher resolution, which results in better quality. 4K/UHD TV screens have a minimum resolution of 3,840 pixels wide and 2,160 pixels tall, which is equivalent to two 1080p screens in height and two in length. With the introduction of 4K TV, 4K projectors, and 4K cameras, the digital content market has evolved. The content captured by these devices results in a large and ever-expanding selection of movies, TV shows, documentaries, and videos that are increasingly shot in 4K resolution and delivered to audiences. This entertainment content can be viewed by consumers who own a 4K TV or who have an internet connection of 20 Mbps or higher in order to view the massive data loads of 4K smoothly. 4K technology is used in a variety of physical products. The advancement of technology is accelerating market growth. For example, 4K cameras can now film videos with any single frame because a high-resolution image allows photographers to capture videos without sacrificing quality. The 4K market’s high resolution provides users with detailed gaming features. 4K laptops provide users with a large amount of storage space for software interfaces.
Higher resolution and better efficiency:
One of the major factors driving the global 4k technology market is higher resolution and efficiency. In the home, 4K/UHD refers to a TV screen with a minimum resolution of 3840 pixels wide and 2160 pixels high, which is equivalent to two 1080p screens in height and two in length. This resolution is commonly referred to as quad HD and is used by virtually all 4K televisions. People’s rising disposable income is another factor that has a positive impact on global market growth. Furthermore, people’s preferences have shifted, as they prefer to view the image in high definition. This is expected to fuel the growth of the 4k technology market.
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4K Technology Market Challenges
Lack of 4K Content:
The lack of 4K content, the discrepancy between screen size and viewing distance, and broadcasting problems of 4K contents are the main factors restraining the growth of the 4K technology market. The majority of 4K content is not available through cable, satellite, or over-the-air television. Currently, no 4K content is broadcast over the air in the United States; it is promised for the future, but it will necessitate new hardware (either in the TV or a set-top box) and is still years away. This is expected to hamper the market growth.
4K Technology Market Landscape
Product launches, acquisitions, and R&D activities are key strategies adopted by players in the 4K Technology. 4K Technology top 10 companies are Samsung Electronics Co. Ltd, Sony Corporation, LG Electronics, Inc., Canon Inc., Hisense Electric Co. Ltd., Sharp Corporation, Panasonic Corporation, Blackmagic Design Pty Ltd., TCL Corporation, Skyworth Digital Holdings Ltd. among others.
Acquisitions/Technology Launches/Partnerships
In May 2021, Realme launched new range of smart 4k TVs in India.
In October 2019, Bringing a new level of premium quality video and audio performance to LCD hotel TVs, LG Business Solutions USA has launched the first 4K Ultra HD TVs designed specifically for the hospitality market with NanoCell display technology.
Key Takeaways
The Asia-Pacific region is rapidly urbanising. This trend is expected to continue in the coming years, bringing unprecedented demographic, economic, and social changes. The demand for premium products, such as 4K ultra hd video streaming, is increasing as people’s standard of living rises.
As more players enter the market, the market trend is toward fragmentation. The market is being driven by a decrease in the manufacturing cost of 4K displays.
Image compression is the application of data compression to digital images with the goal of reducing image data redundancy in order to store or transmit data in an efficient manner. Lossy or lossless image compression is available. For artificial images such as technical drawings, icons, or comics, lossless compression is sometimes preferred. This is due to the fact that lossy compression methods, particularly when used at low bit rates, introduce compression artefacts.
Related Reports:
A. 4K Display Resolution Market Analysis
https://www.industryarc.com/Report/15314/4k-display-resolution-market.html
B. Ultra High Definition (UHD) Panel Market
https://www.industryarc.com/Report/16336/ultra-high-definition-uhd-panel-market.html
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