Published on: May 10, 2024
The television market is forecast to increase by USD 59 billion, at a CAGR of 7.67% between 2022 and 2027. The growth of the market depends on several factors, including product innovation and advances leading to portfolio extension and product premiumization, increasing demand for UHD televisions, and rising popularity of large-display televisions.
There are a wide range of TV brands available on the market, using a variety of technologies and frequently introducing new features. Smart TVs are gaining popularity due to their enhanced specifications and connectivity options.
The TV market is expected to grow steadily over the coming years, driven by increasing demand for smart TVs, the rise of over-the-top (OTT) services, and the expansion of online sales channels. Trends like larger screen sizes, improved sound systems, and advanced display technologies such as 4K resolution, OLED, and quantum dots are becoming more and more common across the industry.
The rising popularity of OTT services and streaming platforms, the availability of enhanced TV specifications and features, and the promotions and discounts offered by TV brands to attract consumers are all helping to drive growth in the global market.
Challenges facing the TV market include competition from smartphones and other entertainment devices, the need for brick-and-mortar stores to adapt to the rise of e-commerce platforms, and consumer concerns about product quality. The cost of advanced TV technologies and the demand for larger screen sizes are also influencing consumer purchase decisions.
Innovation is essential to the TV market, as manufacturers compete on factors such as picture quality, sound systems, and user experience. Innovations such as Quantum dots, QLED technology, and Dolby Vision IQ enhance color accuracy, brightness, and contrast, while features like Android TV operating systems and voice assistants offer greater convenience and connectivity options for consumers.
Technavio’s market research on this industry provides a detailed analysis of the market landscape, providing data on product types, regional markets, sales channels, and more.
Our TV market segmentation covers topics such as:
APAC is projected to account for 39% of the global market’s growth by 2027. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The growth of the market in APAC is mainly attributed to the growing middle-class population and their rising income, which increases their spending power on consumer electronics. Urbanization and the changing lifestyles of the population in the region are also helping to drive the market in the region. APAC is a manufacturing hub for HD and UHD televisions, with many leading manufacturers headquartered in the region. It also has a number of IC driver and panel display manufacturers. The presence of prominent companies in the region, especially in China, has resulted in a lower ASP of televisions compared with that of other regions. Factors such as the Make in India initiative and the increasing adoption of smart TVs among Indian consumers also drive market demand.
Technavio's TV industry reports monitor the leading players in the global market along with their current and forecasted market share. Our analysis covers regional and global companies. Some of the top companies covered in our TV market reports include:
Learn more about the TV industry Explore Reports
In order to provide you with a comprehensive view of the TV industry, our experts analyze the market from many different perspectives. Our reports help identify opportunities, risks, key competitors, and more, helping you make timely, informed decisions to optimize your position in the market.
Technavio reports insights include:
1.How do I identify key trends in the TV market?
Technavio’s market research reports provide an analysis of current trends and how they are affecting the market. We also identify market drivers and challenges to help you discover opportunities and avoid pitfalls.
2.How do I decide which segments of the TV market to focus on?
Every Technavio report includes detailed segmentation insights, breaking down the market in terms of product type, geography, sales channels, and more. And if you’re looking for something a little more specific, our Custom Research Solutions can tailor any report to meet your unique needs.
3.Who are the major players in the TV market?
We provide detailed profiles on the biggest competitors in the market, including data such as business divisions, product offerings, and news. Our reports also include an overview of the competitive landscape as a whole, including the risks and opportunities that it presents.
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