growing demand for projectors in education and corporate sectors is driving the 4K2K TV Market
Technavio analyzes that the 4K2K TV Market is expected to grow at a CAGR of 5.8% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 16712.6 million.There are various factors that contribute to the growth of the market. The 4K2K TV market is witnessing a significant surge due to the increasing demand for high-definition visuals in various sectors. Notably, the education and corporate industries are embracing projectors as essential tools for presentations and distance learning. This trend is driving the growth of the 4K2K TV market, as the demand for larger, clearer displays continues to escalate. The integration of advanced technologies, such as HDR and 4K resolution, further enhances the appeal of these displays, making them indispensable in modern teaching and business environments.
The 4K2K TV market, specifically the 60-69 inch segment, is poised for significant growth in developed countries such as the US, the UK, and Australia. With a pixel density that delivers an enhanced viewing experience, these large-format displays are increasingly becoming the preferred choice for consumers in these regions. The availability of high-definition content, coupled with the ongoing trend of streaming services, further bolsters the demand for 4K2K TVs. As prices continue to decline, with a projected reduction of 20% for sets in the 65-69 inch range, the market is expected to witness robust expansion during the forecast period.
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4K2K TV Market Segmentation
As per our research findings, here are some of the key competitors that are leading the industry
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The 4K2K TV market offers enhanced visuals with sharper and more detailed images, thanks to its Ultra HD (UHD) resolution and higher pixel count compared to older-generation monitors and smartphones. With 4K's improved visual experience, users can enjoy superior picture quality and increased pixel density for an immersive viewing experience. Comparing 4K to HDTV standards, the former delivers progressive visuals, enhanced motion handling, and is popular for streaming, gaming, sports broadcasts, and content with high visual fidelity. System requirements and display specifications may vary, so ensure compatibility before upgrading.
The 4K2K TV market segment within the broader household durables market encompasses companies specializing in the manufacturing and marketing of 4K resolution televisions. This sector excludes mobile phones, PCs, peripherals, video games, gaming consoles, and gaming peripherals. Driven by new product launches featuring sharper and more detailed visuals, there is a growing demand for 4K2K monitors and smartphones, leading to market expansion. Technavio projects the global consumer electronics market, which includes this segment, to experience significant growth due to the continuous introduction of innovative products.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
