Televisions (TVs)

Televisions (TVs)

Global Televisions (TVs) Market to Reach US$261.9 Billion by 2030

The global market for Televisions (TVs) estimated at US$144.1 Billion in the year 2023, is expected to reach US$261.9 Billion by 2030, growing at a CAGR of 8.9% over the analysis period 2023-2030. LCD TVs, one of the segments analyzed in the report, is expected to record a 4.4% CAGR and reach US$134.7 Billion by the end of the analysis period. Growth in the OLED TVs segment is estimated at 16.1% CAGR over the analysis period.

The U.S. Market is Estimated at US$38.8 Billion While China is Forecast to Grow at 12.0% CAGR

The Televisions (TVs) market in the U.S. is estimated at US$38.8 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$55.7 Billion by the year 2030 trailing a CAGR of 12.0% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 6.7% and 6.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 6.7% CAGR.

Global Televisions (TVs) Market - Key Trends & Drivers Summarized

Why Are Televisions (TVs) Still Relevant in the Digital Age?

Televisions remain a central feature in homes worldwide, evolving significantly to meet the changing demands of consumers. Despite the rise of mobile devices and streaming services, TVs provide unparalleled large-screen experiences that are integral for watching sports, movies, and playing video games. Modern TVs are equipped with smart features, allowing users to stream content directly from the internet, access a wide range of apps, and integrate seamlessly with other smart home devices. Innovations like 4K and 8K resolution, OLED, and QLED technologies have dramatically enhanced picture quality, making televisions more relevant and appealing in the digital age.

What Technological Innovations Are Shaping the TV Industry?

The television industry has seen remarkable technological advancements, particularly in display technology and smart functionality. 4K and 8K resolutions have significantly increased picture clarity, while OLED and QLED screens offer superior color accuracy, contrast, and energy efficiency. The incorporation of High Dynamic Range (HDR) enhances visual detail in both the brightest and darkest scenes. Additionally, smart TV platforms powered by operating systems such as Android TV, Tizen, and WebOS provide users with access to a vast array of apps, streaming services, and voice-activated controls. Innovations in sound technology, like Dolby Atmos, have also improved the audio experience, complementing the high-quality visuals.

Why Is There an Increasing Demand Across Various Demographics?

The demand for televisions is growing across various demographics, driven by multiple factors. Younger consumers are drawn to smart TVs for their seamless integration with streaming services and gaming consoles. Families appreciate the ability to connect multiple devices and access a broad spectrum of content, from educational programs to entertainment. The trend towards home theaters has boosted the demand for larger screens and high-definition visuals. Additionally, emerging markets are experiencing a surge in TV demand due to rising disposable incomes and the expansion of digital infrastructure, which makes smart TVs more accessible. The continuous release of innovative models also stimulates replacement cycles in mature markets.

What Are the Key Growth Drivers in the Televisions (TVs) Market?

The growth in the televisions market is driven by several factors. Technological advancements, such as higher resolutions, improved display technologies, and smart functionalities, are significant contributors. The rising popularity of streaming services has made smart TVs indispensable for modern households. Increased consumer spending power, particularly in emerging economies, has expanded the market base. The growing trend of home entertainment systems and the proliferation of content platforms are also driving the demand for advanced television sets. Moreover, frequent product innovations and competitive pricing strategies by manufacturers are further propelling market growth. The integration of artificial intelligence and voice assistants into TVs enhances user experience, adding to the market’s expansion.

Select Competitors (Total 254 Featured) -

• Haier Group Corporation
• Hisense International Co. Ltd.
• Intex Technologies (P) Ltd.
• LG Electronics
• MIRC Electronics Limited (Onida)
• Panasonic Corporation
• Samsung Electronics Co. Ltd.
• Sharp Corporation
• Sony Corporation
• Toshiba Corporation
• Xiaomi Corporation

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