The 4K display resolution market was valued at USD 61.48 billion in 2020 and expected to reach USD 213.92 billion by 2026 and grow at a CAGR of 23.1% over the forecast period (2021 - 2026). The 4K display innovations are expected to upgrade the television viewing experience of the consumers by providing them with video quality that is twice as good as HD, and four times that of regular television. The demand for higher quality display resolutions is gaining momentum due to the desire for unusual consumer experience with highly defined pixel quality, like 4K display resolution.
- Many players are entering the market due to which the market trend is moving toward fragmentation. The decline in the manufacturing cost of 4K displays is driving the market.
- To facilitate the adoption of 4K display products by consumers, vendors are integrating the technology into their existing product lines with moderate replacement costs.
- The Asia-Pacific region is experiencing rapid urbanization with 33% and 55% for India and China, respectively. This trend is projected to continue in the coming years and is expected to bring unprecedented demographic, economic, and social shifts. With an increase in the standard of living, the demand for premium products, like 4K display, is booming.
Key Market Trends
Entertainment and Media Segment to Hold Major Share
- Owing to various factors, such as growing demand for a better gaming experience, enriched entertainment, and the increasing availability of 4K content, the entertainment, and media industry is expected to remain as one of the primary applications of 4K technology.
- Modern consumers are showing an inclination toward TVs with 4K resolution, due to the accurate color and color gamut support for graphics designing, photo editing, and examining the fine details of high-resolution images.
- Major console manufacturers, like Microsoft and Sony, have released 4K enabled consoles to offer a more immersive and advanced gaming experience, which are expected to witness sales of 4K TVs and monitors to grow.
Asia-Pacific to Retain Leading Market Share Position
- Japan, South Korea, and Taiwan represent a significant share of the 4K TV market with players, such as Samsung, LG, and Sony. Moreover, the increasing sales of consumer electronics in the region are driving the demand for high-quality digital advertisements.
- The reduction in ASP of 4K TVs due to declining manufacturing costs is pushing the market to its extent with the technology. Key Players are now adopting strategies to launch new products in partnerships with other tech giants to gain more market share.
- Furthermore, a growing retail sector, increasing advertising expenditures, improving public and private infrastructure, and the associated benefits offered by 4K digital signage systems are boosting its market in the region.
The 4K display resolution market is relatively fragmented and consists of several major players. In terms of market share, few of the major players currently dominate the market. However, with decreasing manufacturing costs and with high competition, the companies are adopting product launch strategies to improve and gain more market share.
- Apr 2019 - LG chemical and material division purchased more than 500 patented assets from Delaware-headquartered DuPont, mostly pertaining to soluble organic light-emitting diodes (OLED) and plans to develop that technology into its next-gen displays.
- Feb 2019 - Sony launched the first ever 21:9 4K display smartphone Xperia 1 to come-back into the smartphone market after back to back severe losses in the smartphone segment.
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