Television Market to Grow at a CAGR of 6.65% During the Forecast Period

 Increasing GDP per capita income, rapid urbanization, and technological advancements are expected to drive the growth of the global television market.

 

According to TechSci Research report, “Television Market –Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2017-2027”, due to rapidly increasing demand from the television industry, the global television market is expected to reach USD182 billion by 2027F, with a CAGR of 6.65% during the forecast period. Television sales are expected to increase during the forecast period due to booming demand for over-the-top (OTT) platforms and the rising urge for televisions with internet connectivity worldwide. As technology is growing, it is making television a device through which one can watch shows and access online content.

 

The multi-connection feature that provides the cable, internet, and satellite features on one TV at a time is taking television technology to a new level. Furthermore, the craze for web series among the masses and the popularity of other advanced entertainment features are bringing about a boom in the global television market. The market for global television is growing because of the growing number of nuclear families worldwide. The electricity saving and wide viewing technology are not only enhancing the viewing preference of the consumer but also making it affordable for the middle-class group globally. On top of that, the lockdown also helped the global television market grow as people were stuck at home and needed entertainment on demand, so television and over-the-top media services helped in that phase.

 

Due to a supply chain disruption in 2020, television panels had limited supply because of China's complete shutdown of manufacturing operations as every industry player around the globe is connected to China in some way for equipment supply. In terms of display type market, the LED market has accounted for the majority of market share in the global television market, followed by OLED, owing to their various advantages such as clearer pixels and visibility, energy saving, easy availability, and integration of the latest technologies. In the others section, QLED is an emerging technology and is expected to gain popularity in the coming years on account of the high level of energy efficiency and lower running cost.


Browse over 17 market data Figures spread through 70 Pages and an in-depth TOC on "Global Television Market"

https://www.techsciresearch.com/report/television-market/9428.html

 

The global television market is segmented into Asia-Pacific, Europe, North America, South America, and the Middle East & Africa in terms of the regional analysis.

The Asia-Pacific region dominates the global television market, followed by North America in 2021. Televisions are in high demand in countries with large populations, such as China, Japan, and India. Changing consumer preferences toward over-the-top platforms and rising disposable income have fueled the growth of the Asia-Pacific television market over the years. In 2021, North America became the world's second-largest market for television. An increase in television demand in North America can be attributed to an increasing population base, rising consumer purchasing power, and growing urbanization.

Key market players in the Global Television Market include:

·         Samsung Electronics Co. Ltd.

·         LG Corporation

·         Sony Corporation

·         TCL Electronic Holding Ltd

·         Hisense International Co. Ltd.

·         Sharp Corporation

·         Skyworth Group Co. Ltd.

·         Panasonic Corporation

·         Xiaomi Group

·         Toshiba Corporation


Leading players are focusing on expanding their product portfolios to maintain sustainable growth in the market. The companies are also expanding their distribution reach across various countries and are seeing a surge in television distribution in demand. For instance, LG Corporation is among the first few companies to offer a rollable television. This rollable television saves space in the room and makes the viewing experience much more satisfactory. This is a genuinely beautiful and one-of-a-kind decor appropriate for any modern place that practically everyone desires.


The ability to use the LG TV roll screen for various functions is a unique feature. This implies that while the TV is at ‘in-line’ mode, just about a quarter of the screen is rolled up to display information such as the weather, the time, and music. In addition to the existing Google Assistant, this LG Signature OLED TV R model features the Alexa virtual assistant.


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“The global television market is expected to expand at a healthy rate during the projected period. Factors such as emerging economies' rapid economic development, rising desire for smart televisions worldwide, the growing smart home market, cheap financing and the advent of new payment options, and the pay-TV system are all driving the global television market demand.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.


“Television Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2017-2027 By Screen Size (Below 39’’, 40"-47", 50"-57", And Above), By Display Type ((LED, OLED, Others (LCD, QLED, etc.)), By Distribution Channel (Multi Branded Stores, Supermarkets / Hypermarkets, Online, Others (Institutional Sales, Exclusive Stores, etc.), By Region”, has evaluated the future growth potential of television in global market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities present in the global television market.


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