Market Overview
The Global 4K TV Market is expected to reach a value of
USD 203.6 billion in 2023, and it is further anticipated to reach a market value of
USD 1,514.0 billion by 2032 at a
CAGR of 25.0%. The market has seen a significant increase in the recent past and is predicted to grow significantly during the forecasted period as well.
The 4K TV market relates to the sector dedicated to making, selling, & distributing television sets with a screen resolution of 3840 x 2160 pixels, commonly known as 4K or Ultra High Definition (UHD). Within this market, there's a rivalry among manufacturers, ongoing technological innovations, the availability of content, & the consumer's desire for better visual quality & better viewing experiences. Essentially, it encompasses the worldwide landscape of 4K TV products and associated technologies.
Market Dynamic
The global 4K TV market is growing, driven by the increase in demand for superior image quality as consumers desire more immersive viewing experiences. The higher resolution & clarity of 4K TVs have gained popularity, mainly for larger screens, as people crave sharper visuals & more vibrant colors. Furthermore, the decrease in prices of 4K TVs has expanded their accessibility to a large consumer base, which is made possible by advancements in manufacturing processes & economies of scale, which have led to cost reductions, making 4K TVs a more affordable option. The affordability factor stands as a key driver behind the broad adoption of 4K TVs.
However, the adoption of 4K TVs faces challenges due to their initial higher purchase costs in comparison to standard Full HD TVs. The premium price point can discourage consumers, mainly when considering larger screen sizes or additional features, affecting market growth. While the availability of 4K content drives adoption, the absence of a large library of such content remains a significant challenge, as not all TV programs, movies, or streaming services offer 4K options, potentially stopping consumers from upgrading to 4K TVs as they may not fully utilize their capabilities.
Research Scope and Analysis
By Screen Size
Televisions in the size range of 52 to 65 inches make themselves a dominant category in 2023, capturing a major portion of the total revenue share. However, the segment also consists of TVs larger than 65 inches anticipated for the most significant growth, mainly driven by the rapid introduction of cutting-edge technologies like QLEDs & other innovations. The market is filled with a number of televisions offered at different price points, with manufacturers focusing on redesigning their products to introduce innovative 4K TVs.
These companies are making significant investments in R&D to create advanced graphic engines that deliver a more immersive & captivating viewing experience. Further, the increasing purchasing power of consumers has further stoked the demand for 4K TVs, particularly in the 52 to 65-inch segment. Also, manufacturers are responding by offering a high number of 4K TVs within this size range. In addition, the rise in global disposable incomes & the declining price trend of UHD televisions are expected to be driving forces behind the growth in the segment featuring screens larger than 65 inches.
By End User
In terms of end-user segments, the market includes residential, commercial, and other, where the residential sector leads the market with the largest share in 2023, as the residential sector plays a major role in driving overall market growth, mainly due to the growth in consumer demand for immersive & high-end home entertainment experiences, making 4K TVs increasingly attractive for personal use. With more people spending most of their time at home, driven by the growth of remote work & social restrictions since COVID, investing in a premium viewing experience has become a priority.
Technological advancements like voice control, HDR, and
smart home integration have also contributed to the growing popularity of 4K TVs within households. Further, the availability of a broad array of 4K content from streaming services has further boosted the adoption rate among residential users. In addition, the lowering cost of high-speed internet & the broad acceptance of Over-the-Top (OTT) platforms have made 4K streaming more accessible. The compatibility of 4K TVs with gaming consoles has also attracted a younger demographic seeking to harness the benefits of improved graphics & quick refresh rates.
The 4K TV Market Report is segmented on the basis of the following
By Screen Size
- Below 52 inches
- 52 – 65 inches
- Above 65 inches
By End User
- Residential
- Commercial
- Others
Regional Analysis
Asia Pacific region dominated the global 4K TV market in 2023, contributing
a substantial 43.4% of the total revenue share, which can be attributed to the widespread availability of 4K TVs at affordable prices, driving a high demand for these televisions in the region.
Further, North America, as an early adopter of 4K TVs, experienced significant growth with their introduction, & is expected to continue the same in the coming years. A key factor in the regional market's growth is the increase in adoption of 4K set-top boxes, which enhance the picture quality of 4K TVs.
Moreover, the reduction in prices of 4K TVs is set to further boost growth, as it is anticipated that over half of the American population will own at least one 4K TV during the forecasted period. In addition, in Europe, the 4K TV market has also seen moderate growth, driven by the rise in demand in countries like the UK & Germany. The proliferation of TVs supporting High Dynamic Range (HDR) technology will play a crucial role in stimulating growth in developed markets.
By Region
North America
Europe
- Germany
- The U.K.
- France
- Italy
- Russia
- Spain
- Benelux
- Nordic
- Rest of Europe
Asia-Pacific
- China
- Japan
- South Korea
- India
- ANZ
- ASEAN
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Egypt
- Rest of MEA
Competitive Landscape
The global 4K TV industry is fiercely competitive, mainly because of key players like Samsung, LG Electronics, Sharp Corporation, and more. Their presence intensifies the rivalry within the industry, making it challenging for new entrants to establish themselves due to the high preference customers have for well-established brands. To attract customers, these key market players offer a wide range of televisions with varying screen sizes & features, aiming to enhance their sales & stay ahead in the market.
Like, in August 2023, Samsung introduced its Crystal Vision 4K TV series for the Indian market, featuring built-in IoT Hub technology & offering support for multiple voice assistants, among other major features.
Some of the prominent players in the global 4K TV Market are:
- Sharp
- Sony
- Samsung
- Toshiba
- Hitachi
- LG
- Hisense
- Philips
- Skyworth
- Panasonic
- Other Key Players
COVID-19 Pandemic & Recession: Impact on the Global 4K TV Market
The COVID-19 pandemic & the following economic recession significantly affected the global 4K TV market. As people experienced financial uncertainty & spent more time at home due to lockdowns & social distancing, there was a mixed impact on 4K TV sales.
While the need for home entertainment & streaming services grew, leading to growth in sales of 4K TVs, economic constraints & supply chain disruptions hindered growth, also the market saw fluctuations in demand, with a shift toward cost-efficient models & online sales, reflecting the pandemic's complex impact on consumer preferences & financial constraints.
Report Details
| Report Characteristics |
| Market Size (2023) |
USD 203.6 Bn |
| Forecast Value (2032) |
USD 1,514.0 Bn |
| CAGR (2023-2032) |
25.0% |
| Historical Data |
2017 - 2022 |
| Forecast Data |
2023 - 2032 |
| Base Year |
2022 |
| Estimate Year |
2023 |
| Report Coverage |
Market Revenue Estimation, Market Dynamics, Competitive Landscape, Growth Factors and etc. |
| Segments Covered |
By Screen Size (Below 52 inches, 52 – 65 inches, and
Above 65 inches), By End User (Residential,
Commercial, and Others) |
| Regional Coverage |
North America – The US and Canada; Europe – Germany, The UK, France, Russia, Spain, Italy, Benelux, Nordic, & Rest of Europe; Asia- Pacific– China, Japan, South Korea, India, ANZ, ASEAN, Rest of APAC; Latin America – Brazil, Mexico, Argentina, Colombia, Rest of Latin America; Middle East & Africa – Saudi Arabia, UAE, South Africa, Turkey, Egypt, Israel, & Rest of MEA
|
| Prominent Players |
Sharp, Sony, Samsung, Toshiba, Hitachi, LG, Hisense,
Philips, Skyworth, Panasonic, and Other Key Players |
| Purchase Options |
We have three licenses to opt for: Single User License (Limited to 1 user), Multi-User License (Up to 5 Users), and Corporate Use License (Unlimited User) along with free report customization equivalent to 0 analyst working days, 3 analysts working days and 5 analysts working days respectively. |
Frequently Asked Questions
The Global 4K TV Market is estimated to reach USD 203.6 billion in 2023, which is further expected to
reach USD 1,514.0 billion by 2032.
Asia Pacific dominates the Global 4K TV Market with a share of 43.4% in 2023.
Some of the major key players in the Global 4K TV Market are Sony, Sharp, LG, and many others.
The market is growing at a CAGR of 25.0 % over the forecasted period.