The increasing popularity of large displays, especially from the consumer segment, will drive the growth of the television market during the forecast period. The average television size, globally, was 40 inches in 2018. However, most of the vendors are now offering televisions with a screen size above 80 inches. The trend is more prevalent in countries in North America and APAC. The average television size in those markets is expected to be close to 50 inches by the end of the forecast period. Another factor that will drive the growth of this segment is the rising popularity of video walls. Video walls comprise of multiple monitors arranged together to create the visual of one large screen. Thus, the rising popularity of large-display televisions is expected to drive the growth of the market during the forecast period.
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As per Technavio, the increased demand for smart televisions will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Television Market : Increased Demand For Smart Televisions
The demand for smart televisions has been witnessing an increase over the last few years, and the same trend is expected to continue during the forecast period. Smart televisions constituted more than half of the television sales during 2018-2019. The recently introduced smart televisions feature 4K resolution. Smart televisions also have integrated Internet and interactive Web 2.0 features. Several vendors, such as LG and Samsung offer smart UHD televisions.
“Factors such as the increasing demand for UHD televisions, advent of 8k UHD televisions, and innovations in UHD televisions will have a significant impact on the growth of the television market value during the forecast period,” says a senior analyst at Technavio.
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Television Market: Segmentation Analysis
This market research report segments the television market by technology (HD and UHD), display size (Up to 43 inches, 55-64 inches, 48-50 inches and greater than 65 inches), display type (LCD and OLED), and geography (North America, APAC, Europe, South America and MEA).
The APAC region led the television market in 2019, followed by North America, Europe, South America and MEA. During the forecast period, the APAC region is expected to register the highest incremental growth due to the presence of many leading manufacturers headquartered in the region.
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Some of the key topics covered in the report include:
- Up to 43 inches
- 55-64 inches
- 48-50 inches
- Greater than 65 inches
- North America
- South America
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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