LONDON--(BUSINESS WIRE)--Technavio projects the global UHD TV market to post a CAGR of more than 28% during the forecast period. The reduction in ASP of UHD TVs is expected to drive the growth of the market. One of the key factors that hindered the wide-scale adoption of UHD TVs was its initial high cost. Since 2012, when the technology first emerged for consumer sales of TV sets, the ASP has declined by nearly 85%. This will positively impact the market during the forecast period.
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In this report, Technavio highlights the Advent of 8K UHD TVs as one of the key emerging trends in the global UHD TV market:
Advent of 8K UHD TVs
The global 8K display resolution market is witnessing immense growth, primarily due to the increasing need for high-resolution display devices and increased demand for enhanced content creation. Currently, TVs larger than the average 40-inches screen are produced with UHD or 4K. During the CES 2018 held in January, the next version of UHD TVs with 8K resolution was introduced. 8K has a higher resolution standard than 4K, quadrupling the total number with approximately 8,000 horizontal pixels. The market will witness the introduction of consumer-grade 8K TVs by the end of 2018.
According to a senior analyst at Technavio for displays research, “Key vendors such as LG, Samsung, and Sony have introduced the 8K TV series; however, these are not consumer versions. Vendors will launch consumer-grade 8K TVs, in addition to 8K compatible content and devices. The 8K TVs are expected to be released at niche price points, and only for custom orders.”
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Market segmentation - APAC to dominate the market through 2022
This market research report segments the global UHD TV market by resolution (4K and 8K), by screen size (40-49 inches screen size, 50-59 inches screen size, 60-69 inches screen size, and 70 inches and above), and by display type (LED display, QLED display, and OLED display), and key regions (the Americas, APAC, and EMEA).
In 2017, APAC dominated the global UHD TV market with a share of more than 64%, followed by the Americas and EMEA. This is due to the increased demand for UHD TVs and presence of several TV manufacturers in the APAC region. The market growth in the Americas is attributed to the early adoption of UHD TVs by consumers in the region. EMEA, however, is expected to witness a significant drop in its market share by 2022.
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