UHD/4K Panel Market was valued at around USD 16.5 billion in 2015, and is estimated to surpass USD 44.41 billion by 2024, according to a new research report by Global Market Insights, Inc. The global UHD panel market size is poised for growth owing to the growing demand for these displays from numerous sectors such as hospitality & retail, corporate, commercial government, and sports venues. Features such as high resolution as well as superior color fidelity, are expected to propel growth over the next eight years.
Rising integration of these systems into numerous consumer electronic devices, such as digital cameras, smartphones, televisions, and personal computers, is expected to boost demand through 2024. Rapid technological advancements are likely to result in the incorporation of several value-added features in these components. Furthermore, the advent of economical products may offer 4K panel market with potential growth avenues over the forecast timeline.
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Escalating applications of these devices across media & broadcasting sector are predicted to positively impact UHD panel market share. In addition, various attributes, such as extensive color gamut, high picture resolution, and wide dynamic range, is anticipated to help new genres & entertainment field over the next eight years.
Surging adoption across various sectors, such as advertising and publishing & signage, is predicted to catalyze the industry demand. Escalating product implementation in digital applications, such as sports, music events, and cinema complexes, is expected to favorably impact 4K panel market size over the forecast period. However, high costs associated with these are likely to motivate consumers for opting substitutes, such as LEDs and LCDs, and is predicted to hamper growth over the forecast timeline.
LED/OLED segment is forecast to account for over 45% of the overall industry shipments by 2024 and is estimated to grow at a CAGR of 8.8% from 2016 to 2024. The growth in this segment can be attributed to the increasing integration of these devices into mobile phones as well as tablets.
LCD segment was valued at over USD 9.5 billion in 2015. Optimized energy consumption owing to the light modulating properties of liquid crystals is expected to catapult UHD panel market size from 2016 to 2024.
Television application segment is estimated to grow at over 8.5% CAGR in terms of volume from 2016 to 2024. The growth in the segment can be dedicated to the rising use of these products in television systems. Furthermore, the growing demand for superior picture quality to enhance the customer viewing experience is expected to catapult 4K panel market size through 2024.
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The digital display screen application segment in anticipated to grow at 11.7% CAGR from 2016 to 2024. The widespread implementation of digital applications in sports events, cinema complexes, and music concerts is expected to drive revenue over the forecast timeframe.
Asia Pacific 4K market share is projected to grow faster than the global average in the coming years. The growth in the region can be credited to the existence of a large number of OEM manufacturers across the region. Rising customer awareness accompanied by the swift acceptance of advanced technology will prove beneficial for the North American industry.
Major industry players include LG, Samsung Electronics, Panasonic, Sony Electronics, and Toshiba. Other participants are Qingdao Haier Group, Sharp, Koninklijke Philips, Innolux, BOE Technology Group, AU Optronics, and Hisense Group. Companies are anticipated to focus on enhancing product portfolio and innovation initiatives in order to gain traction.
Browse key industry insights spread across 90 pages with 71 market data tables & 40 figures & charts from the report, “(Ultra High Definition) UHD/4K Panel Market Size By Technology (LCD, LED/OLED), By Application (Televisions, Personal Computers, Smartphones, Digital Display Screens), Industry Analysis Report, Regional Outlook (U.S., UK, Germany, China, Japan), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024” in detail along with the table of contents:
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.