LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global 4K2K TV market 2016-2020 report. This research report also lists 12 other prominent vendors that are expected to impact the market during the forecast period.
Competitive vendor landscape
The global 4K2K TV market is highly competitive because of the presence of many large players. Intense competition and increasing technological advances are significant risk factors for vendors. Vendors are competing on the basis of features, technology, display, and price. During the forecast period, the competition is expected to become more intense whereby it will become imperative for vendors to come up with advanced technology in order to gain a competitive advantage.
According to Ujjwal Doshi, a lead analyst at Technavio for consumer electronics research, “Technological innovations and creativity play a significant role in driving market growth. In order to succeed in this competitive market, vendors have to develop new ideas and technologies and stay up to date with the emerging technologies that could influence service lines.”
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The company was founded in 1969 and is headquartered in Shandong, China. Hisense is a manufacturer and provider of electronic products and appliances worldwide. The company, through its subsidiaries, offers complementary metal-oxide-semiconductor (CMOS) chips, TVs, IPTV products, mobile phones, wireless modules, and home appliances like washing machines, refrigerators, and air conditioners.
Hisense's strategy is to achieve growth by offering new products to the market continuously, and thereby capture more market share. The company primarily focuses on R&D and engineering to support the development of new products. It has high production capabilities, offers superior customer services, and maintains a collaborative relationship with customers.
LG Electronics was founded in 1958 and is headquartered in Seoul, South Korea. The company manufactures and markets electronic products like home air conditioners, mobile communications equipment, TVs, monitors, automobile parts, refrigerators, vacuum cleaners, and washing machines.
The company's technology leadership, broad customer portfolio, and product diversification have made it one of the leading players in the market. One of the growth strategies followed by the company is to expand its product portfolio continuously. The company primarily focuses on R&D and engineering and continuously invests in using its technology for better sales.
Panasonic was formerly known as Matsushita Electric Industrial. The company is headquartered in Kadoma, Osaka, Japan. It is a multinational consumer electronics company that designs, manufactures, and sells a wide range of products related to home appliances, electronics, and semiconductors. The company is a large manufacturer of digital cameras and offers camera accessories like lenses, mount adaptors, batteries, and flashguns. The company has a unique strategy to meet user expectations and offers them customized aftersales services.
Samsung Electronics is a multinational electronics and IT company headquartered in Samsung Town, Seoul, South Korea. The company is a subsidiary of the Samsung Group and has assembly plants and sales networks in 61 countries worldwide. It is a leading manufacturer of consumer electronics, communication, home appliances, and semiconductor products. The company also sells digital cameras and camera accessories worldwide. Samsung is one of the largest suppliers of TVs worldwide. It is experiencing close competition with LG Electronics. However, according to Technavio, the company will lead the global 4K2K TV market during the forecast period.
Sony is headquartered in Minato, Tokyo, Japan. It designs, manufactures, and sells electronic devices and related accessories for business and personal use. It is a company with more than 100 product portfolios, ranging from electronics to entertainment and media to financial services. Sony is the world’s third-largest supplier of 4K2K TVs. Sony focusses primarily on 50-80 inch screen sizes for 4K2K TVs. The demand for TVs with screen sizes beyond this range is minimal.
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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