Market Highlights

The global 4K technology market is scaling-up rapidly. The market is driven by the rising adoption of 4K home theatre projectors, 4K video cameras, and 4K monitors for industrial and other applications. Besides, the growing uptake of 4K displays in entertainment systems, automotive monitors, portable navigation devices, medical diagnostic equipment, and flexible display products drives the market growth.

Moreover, rising display technologies such as UHD 4K monitors escalate sales in the market. Leading research firm Market Research Future (MRFR) asserts that the global 4K technology market is poised to garner a valuation of approximately USD 150,202 MN by 2023, growing at 21.29% CAGR throughout the projected period (2017 to 2023). The spurting growth in consumer electronics, media & entertainment, and sports industry boots the market demand hugely.

Additionally, the growing demand for high-quality displays in smartphones and other electronic devices accelerate market sales. Rapid urbanization and the improving economy worldwide influence market growth, improving consumer purchasing power. Moreover, the growing numbers of product launch with high-resolution increase the size of the market, spurring the sales. Substantial R&D investments by manufacturers to bring more innovations act as a key growth propeller for the market.

On the other hand, 4K technology has few disadvantages, such as limitations of content recording and the requirement of minimum 25Mbps bandwidth to transfer videos. These limitations, alongside the high costs of 4K displays, are keys factors projected to impede the market growth. Nevertheless, future technological upgrades would support market growth, improving technology further, and presenting cost-effective solutions.

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Segmentation:

The report is segmented into two dynamics;

By Type : Digital Content and Physical Product (TVs, Monitors, Digital Signage, Set-Top Boxes, Smartphones, Tablets, Laptops, Projectors, Cameras, Blu-Ray Players, others).

By Regions : Americas, Europe, Asia Pacific, and Rest-of-the-World.

Global 4K Technology Market - Regional Analysis

The Asia Pacific region dominates the global 4K technology market. The largest market share attributes to the presence of notable players offering revolutionary display technologies with higher resolution. Besides, the proliferation of smart technologies and substantial R&D investments to develop the display technology drive the regional market growth. India, Japan, and China hold a major share in the regional market. The Asia Pacific 4K Technology is estimated to retain its dominance throughout the projected period.

North America stands second in the global 4K technology market. The market growth is driven by substantial technological advances and the increasing use of mobile devices in the region. Additionally, the growing uptake of these displays and increasing investments transpired into product development boost the regional market growth. Furthermore, the ability of manufacturers to develop cutting-edge display technologies act as major tailwinds for the growth of the regional market. The North American 4K technology market is projected to grow at the fastest rate during the review period.

The Europe 4K Technology market is emerging as a promising market globally. The region witnesses the rising demand for 8K displays from outdoor applications. Factors such as the rapid technological advances in display technologies influence the growth of the regional market. Moreover, the rising demand for premium electronic products and the resurging economy in the region provide a massive impetus to the 4K technology industry. The European 4K technology market is projected to scale-up at an impressive growth rate during the assessment period.

4K Technology Market - Competitive Analysis

Fiercely competitive, the 4K technology market appears fragmented due to the presence of various dynamic and diversified players. To gain a substantial competitive share, innovation, mergers & acquisitions, and brand reinforcement remain key trends. Industry players strive to develop a cost-effective portfolio, increasing R&D investments. The market is to witness intensifying competition with increasing product launches. Also, immense revenue generation opportunities demonstrated by the market intensify the market competition, attracting new entrants.

Market Players:

Players leading the 4K technology market include Panasonic Corp. (Japan), Canon Inc. (Japan), AsusTek Corp. (Taiwan), JVC Kenwood Corp. (Japan), Sharp Corp. (Japan), Innolux Corp. (Taiwan), LG Electronics Corp. (South Korea), Blackmagic Design Pty Ltd. (Australia), Hisense Co.Ltd (China), Samsung Electronics Corp. (South Korea), and Sony Corp. (Japan), among others.

Innovation/ Industry/Related News:

September 30, 2020 --- Oppo Consumer Electronics Company (China) announced that it has partnered with 8KRAW Films to compile stunning footage of natural scenes with vivid colors that showcases the picture quality of the TV it is gearing up to launch sometime next month. The new Oppo smart TV comes with 4K resolution in output content while featuring a 120Hz refresh rate. Oppo partnered with 8KRAW to compile stunning footage of natural scenes with vivid colors that showcases the picture quality of the TV.

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4K Technology Market, By Type (Digital Content, Physical Product), By Physical Product (Set-Top Box, Digital Signage Tablets, Laptops, Projectors, Cameras, Blu-Ray Players) - Forecast 2027

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