(MENAFN- PR Newswire)
NEW YORK, June 27, 2024 /PRNewswire/ -- The global curved television market size is estimated to grow by USD 12.72 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of
29.08%
during the forecast period. Increasing demand for augmented experience is driving market growth, with a trend towards shifting of customer preference toward better image quality, size, and features of TVs. However, emergence of low-cost vendors
poses a challenge. Key market players include Changhong, CloudWalker Streaming Technologies Pvt. Ltd., Haier Smart Home Co. Ltd., Hisense International Co. Ltd., JVCKENWOOD Corp., Koninklijke Philips N.V., LG Electronics Inc., Loewe Technology GmbH, Nimble Holdings Co. Ltd., Panasonic Holdings Corp., PLR IP Holdings LLC, Samsung Electronics Co. Ltd., Sceptre Inc., Sharp Corp., Skyworth Group Ltd., Sony Group Corp., Stanlee India Enterprises Pvt. Ltd., TCL Electronics Holdings Ltd., Vu Television, and Xiaomi Communications Co. Ltd..
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Technavio has announced its latest market research report titled Global curved television market 2024-2028
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| Curved Television Market Scope |
| Report Coverage |
Details |
| Base year |
2023 |
| Historic period |
2018 - 2022 |
| Forecast period |
2024-2028 |
| Growth momentum & CAGR |
Accelerate at a CAGR of 29.08% |
| Market growth 2024-2028 |
USD 12721.8 million |
| Market structure |
Fragmented |
| YoY growth 2022-2023 (%) |
22.6 |
| Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
| Performing market contribution |
APAC at 36% |
| Key countries |
China, US, South Korea, India, and Germany |
| Key companies profiled |
Changhong, CloudWalker Streaming Technologies Pvt. Ltd., Haier Smart Home Co. Ltd., Hisense International Co. Ltd., JVCKENWOOD Corp., Koninklijke Philips N.V., LG Electronics Inc., Loewe Technology
GmbH, Nimble Holdings Co. Ltd., Panasonic Holdings Corp., PLR IP Holdings LLC, Samsung Electronics Co. Ltd., Sceptre Inc., Sharp Corp., Skyworth Group Ltd., Sony Group Corp., Stanlee India Enterprises Pvt. Ltd., TCL Electronics Holdings Ltd., Vu Television, and Xiaomi Communications Co. Ltd. |
Market Driver
The curved television market is experiencing significant growth due to consumer demand for improved image quality. Curved TVs offer advanced features such as 3D compatibility, auto depth enhancement, and UHD resolution. Their design reduces distortion by nearly 50% at standard viewing distances and minimizes reflections, enhancing black and dark image contents. These innovations are expected to drive market expansion during the forecast period.
The curved television market is experiencing significant growth with various companies and COMMERCIAL entities introducing new models. Ultra High Definition (UHD) and 4K resolution are popular trends in this sector. Televisions with Organic Light Emitting Diodes (OLED) and High Dynamic Range (HDR) technology are in high demand. Residential segment is the major consumer of curved televisions. The size of the screens ranges from 40 inches to 110 inches. Smart TVs with built-in Wi-Fi and streaming capabilities are also gaining popularity. The market is competitive with RESIDENTIAL segments in North America and Europe showing high demand. The market is expected to continue its growth trajectory with the introduction of new features and technologies.
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Market
Challenges
The curved TV market is highly competitive with numerous vendors, particularly in APAC countries. New companies offer affordable alternatives, attracting cost-conscious consumers. Global players provide superior quality and additional features, justifying higher prices. This price war forces global vendors to lower prices, impacting their market share and profits. This competition may hinder the growth of the global curved TV market.
The curved television market faces several challenges. Curved TVs offer an immersive viewing experience with their wide field of view. However, producing these TVs comes with complexity. The manufacturing process requires advanced technology and precision. Cost is another challenge. Curved TVs are more expensive than traditional flat screens due to their unique design. Additionally, content production for curved TVs is still in its infancy. Televisions shows and movies are produced for flat screens, making the transition to curved TVs a challenge for content providers. Despite these hurdles, the curved television market continues to grow, driven by consumer demand for innovative technology and enhanced viewing experiences.
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Segment Overview
This curved television market report extensively covers market segmentation by
Technology
Display Size
2.1 Up to 43 inches
2.2 48-50 inches
2.3 55-64 inches
2.4 Greater than 65 inches
Geography
3.1 APAC
3.2 North America
3.3 Europe
3.4 South America
3.5 Middle East and Africa
1.1 HD-
The HD curved television market experiences growth due to its affordable pricing and high resolution. Technological advancements and the availability of technologically superior products at reasonable prices further boost demand. Vendors collaborate with content service providers to offer smart television sticks, enhancing the HD viewing experience. These sticks enable online content browsing and streaming in HD quality. However, the emergence of UHD televisions with superior quality and resolution may challenge the market during the forecast period.
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Research Analysis
The curved television market encompasses innovative solutions in both the residential and commercial segments. Ultra-high definition curved TVs, such as Infinity Screen TVs, are gaining popularity in the entertainment industry for their immersive viewing experience. In the residential sector, curved TVs offer a more cinematic experience for movie enthusiasts. Meanwhile, in the commercial segment, curved TVs are being adopted for digital signage and advertising in smart cities. The gaming industry also benefits from curved TVs, providing a more immersive gaming experience with enhanced graphics and wider viewing angles. Smart TVs, integrating advanced technologies, further enhance the functionality and convenience of curved televisions.
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Market Research Overview
The Curved Television Market represents a significant segment in the global consumer electronics industry. These televisions offer an immersive viewing experience with their unique design and enhanced picture quality. The Curved Television technology segment includes Televisions, Ultra-High Definition (UHD), Resolution, Semiconductors, and Organic Light-Emitting Diodes (OLED). The market is driven by factors such as the increasing demand for larger screen sizes, improved picture quality, and consumer preference for innovative technology. The segment also faces challenges like high production costs and the availability of alternative technologies. The market for Curved Televisions is expected to grow steadily due to ongoing advancements in technology and consumer demand for enhanced viewing experiences.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Technology
Display Size
Up To 43 Inches
48-50 Inches
55-64 Inches
Greater Than 65 Inches
Geography
APAC
North America
Europe
South America
Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
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