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.
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MaketStudyReport.com adds a New UHD/4K Panel Market Research Report for the period of 2016-2024 that shows the growth of the market is rising at a 11% CAGR to 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.
Surging adoption across various sectors, such as advertising and publishing &signage, is predicted to catalyze the industry demand.
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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.
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Key insights from the report include:
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.
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.
UHD Panel Technology Analysis (Volume, Thousand Units &Revenue, USD Million, 2013 - 2024)
UHD Panel Application Analysis (Volume, Thousand Units &Revenue, USD Million, 2013 - 2024)
Televisions, Personal Computers, Smartphones, Digital Display Screens, Others
The above information has been provided on a regional and country basis for the following:
North America, U.S., Europe, UK, Germany, Asia Pacific, China, Japan, Latin America, MEA
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