LONDON--(BUSINESS WIRE)--The HDMI cable market is expected to grow by USD 800.10 million during 2020-2024. The report also provides competitive insights into the market impact and new opportunities created due to the COVID-19 pandemic. According to the latest market research report by Technavio, the impact is going to be significant in the first quarter. It will eventually lessen the subsequent quarters – with a limited impact on the full-year economic growth.
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The market is driven by the growing demand for 4K/UHD TVs. Rising disposable incomes and growing consumer demand for enhanced viewing experience have led TV manufacturers to introduce high-definition products. Besides, the decreasing cost of 4K TVs has increased shipments of these products across the world. Also, the rising number of commercial establishments has increased the adoption of 4K and UHD TVs. These factors have increased the demand for HDMI cables as they ensure better transmission of audio and video signals without lag.
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 research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024. To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR44299
HDMI Cable Market: Growing Popularity of HDMI 2.1
HDMI 2.1 cables offer faster refresh rates, better audio, and supports 8K resolution video at 60 fps and 4K at 120 fps. HDMI 2.1 cables also offer dynamic HDR support, which ensures eARC, quick media switching (QMS), quick frame transport (QFT), and display stream compression to the HDMI specification. These benefits have increased the popularity and adoption of HDMI 2.1. This is encouraging TV manufacturers to introduce products that are compatible with HDMI 2.1. All these factors are expected to positively influence the growth of the market during the forecast period.
“Increased adoption of AR/VR/MR and the growing popularity of HDMI with Ethernet will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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HDMI Cable Market: Segmentation Analysis
This market research report segments the HDMI cable market by Type (High-speed, Standard, and Ultra-high-speed) and Geography (APAC, North America, Europe, South America, and MEA).
The APAC region led the HDMI cable market in 2020, followed by North America, Europe, South America, and MEA respectively. Due to the increasing demand for HD TV screens with enhanced gaming experience, the APAC region is expected to register the highest incremental growth during the forecast period.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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