The global 4K display resolution market was worth USD 60.85 billion in 2020 and is predicted to grow to more than USD 245.90 billion by 2028, with a CAGR of 22.9 percent between 2022 and 2028. The market’s expansion can be attributable to customers’ increased desire for high-resolution display products.
4K refers to a horizontal resolution of 4,000 pixels accessible in a variety of digital formats, which are mostly used for producing motion pictures and converting 35 mm film to digital. A 4K resolution monitor provides the best visual quality, and various 4K display panels may be found in products such as smart TVs and smartphones. The 4k display resolution does not take into consideration finished devices such as 4K UHD and 4K OLED televisions.
Due to sudden pauses in their respective production and supply-chain operations, the Covid-19 epidemic had a negative influence on practically every market and industry in the world. Government-imposed precautionary lockdowns and other restrictions had a detrimental influence on the market due to a delay in the production of the display type.
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Trends, drivers, restraints, and opportunities in the market
➛ A primary driver of the market is the rising demand for consumer electronic devices such as smartphones and smart TVs as a result of rising disposable income among a huge portion of the worldwide population.
➛ The market is expected to be driven in the next years by the decreasing cost of making 4K screens due to the widespread availability of massive production lines.
➛ During the projected period, the market is expected to grow due to increased advertising spending and customers’ desire for a better gaming experience on electronic devices.
➛ The market faces a huge issue in terms of the complexity of regulatory rules between nations in terms of the import and export of raw materials, particularly semi-conductors.
➛ Technological advancements and the wide availability of gadgets or items at reasonable pricing are two significant aspects that can help the market thrive.
The entertainment and media category is expected to grow at a rapid rate
The market is divided into three verticals: business & education, aerospace & military, and entertainment & media. The entertainment & media segment is expected to grow at a significant CAGR throughout the forecast period, owing to the increasing use of smart TVs for entertainment by a huge portion of the global population. Due to considerations such as rising need for a better gaming experience and richer entertainment purposes, it remains one of the primary uses of 4K technology.
Asia Pacific is expected to have a significant market share.
The global 4K display resolution market is divided into five regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Due to the rise of the electronic sector in the region, which has been aided by large financing, Asia Pacific is predicted to have a significant share of the market over the forecast period. Furthermore, the presence of major global players such as Samsung, LG, and Sony, as well as widespread adoption of smart devices in households in Japan, South Korea, and Taiwan, is a crucial factor driving regional market growth. Increased spending on high-quality digital advertising is credited with the region’s increased consumer electronics sales.
The Report’s Covered Segments
The global market for 4K display resolution has been split into four categories:
By Products
● Smart TV
● Monitor
● Smartphone
By Application
● Consumer Electronics
● Gaming and Entertainment
● Retail
● Education
● Healthcare
● Aerospace and Defense
● Others
Competitive Environment
The following are some of the major participants in the global 4K display resolution industry: Toshiba Corporation; LG Display Co. Ltd.; Sony Corporation; Sharp Corporation; and Samsung Electronics Co. Ltd. In the face of reduced manufacturing costs and fierce competition, several of these large corporations are considering various market development tactics, such as new launches, to improve and acquire market share. LG’s chemical and material business purchased more than 500 patented properties from DuPont in April 2019. It was a critical step in the previous company’s plan to invest heavily in the development of soluble organic light-emitting diodes (OLEDs), with the goal of incorporating the technology into its next-generation screens. Sony re-entered the smartphone market in February 2019 with the Xperia 1, the first smartphone with a 21:9 4K display.
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STAKEHOLDERS’ PRIMARY BENEFITS
➜ The market research report includes comprehensive information on the primary drivers, restraints, and opportunities that will influence industry growth over the forecast period.
➜ The research goes on to break down data volume by components, end consumers, and demographics.
➜ A SWOT analysis of big brands identifies their strengths, weaknesses, opportunities, and threats. The information is useful for business owners who are developing marketing and branding strategies.
➜ The market research report’s discussion of regional business performance would be useful for companies looking to expand into new markets.
➜ The analysis not only looks at market dynamics, but also at the growth rate and the structure of the industrial chain.
➜ The research also considers the major market participants and their business strategies for maintaining their dominance.
➜ The paper also includes an analysis of the upstream and downstream markets.
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