A key factor driving the growth of the market is the high demand for 4K/UHD TVs. One of the major applications of HDMI cables is 4K content display on TVs, where HDMI cable is used for high-definition, multimedia transmission onto TV screens for enhanced viewing experience. HDMI cables are preferred over conventional RCA cables as it can transmit a video signal, a CEC signal, and up to 8 channels of audio signals. This provides better audio-video quality while avoiding audio-video lag. Globally, the shipment of 4K TVs is increasing due to their decreasing price. Also, the rising disposable income of individuals coupled with the increasing number of commercial buildings is supporting the sale of 4K/UHD TVs, where HDMI cables are used to view 4K contents via set-top boxes. Such factors are expected to boost the HDMI cable market expansion during the forecast period.
As per Technavio, the growing popularity of HDMI 2.1 will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global HDMI cable market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global HDMI cable market: Growing popularity of HDMI 2.1
HDMI 2.1 cables allow faster refresh rates, better audio at 48 Gbps data rates, and 8K resolution video at 60 frames per second. These cables also offer dynamic HDR support, which ensures eARC, quick media switching (QMS), and display stream compression to the HDMI specification. Due to all these features, the demand for HDMI 2.1 cables is increasing across the world. The manufacturers of smart TVs are also launching new products to cater to this demand. It is expected with the launch of products supporting the HDMI 2.1 version, the demand for these cables will increase for the better viewing experience, driving the growth of the HDMI cable market during the forecast period.
“High popularity of HDMI with Ethernet is another factor expected to drive the market positively. One of the major advantages of HDMI cables is that they allow the distribution of video and audio to any screen on the signage network. A single transmitter can deliver multimedia to hundreds of displays by combining matrix and video extension solutions, thereby making HDMI cables beneficial for the process. Because of such advantages, it is expected that this trend will support the market’s growth during the forecast period,” says a senior analyst at Technavio.
Global HDMI cable market: Segmentation analysis
This market research report segments the global HDMI cable market by type (standard, high speed, ultra-high speed) and geographical regions (APAC, North America, Europe, South America, and MEA).
The APAC region led the market in 2018, followed by North America, Europe, South America, and MEA respectively. During the forecast period, the APAC region is expected to maintain its dominance over the global market and register the highest incremental growth due to the increasing demand for HD TV screens with enhanced gaming experience in various countries, including India, China, Japan, South Korea, and Thailand.
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