Televisions Market By Type (Under 32 Inch, 32-42 Inch, 42-48 Inch, and Others), By Application (Commercial Signage And Home Entertainment), And Region - Global Forecast To 2028

Global Televisions Market: Introduction

The global televisions market is expected to be valued at approximately US$ 136.5 Bn in 2019 and is expected to register a CAGR of 3.4%. The global televisions market report has been segmented on type, application, and region.

Television (TV) is an electronic device used to deliver images and sound from a source to a receiver. A television can receive various types of broadcast or video formats, such as high-definition television (HDTV).

Global Televisions Market: Dynamics

Rising demand for televisions as the most popular communication media and home appliance among consumer electronics products across the globe is a key factor expected to drive growth of the global televisions market. It’s a medium that always triggered imagination and raised curiosity. It encouraging education and entertaining millions of viewers.

In addition, growing demand for 3D and 4K television sets and rising consumer preference towards large screen display screens are some other factors expected to boost growth of the target market over the forecast period.

Moreover, rising inclination towards sports by individuals of all age groups and genders is expected to result in increasing number of global TV shipments. For instance, according to the news article published in 2018, global shipments reached around 221 Mn, due to the World Cup matches.

However, increasing consumer preference towards adoption of smartphones coupled with rising demand for Netflix, HotStar, Amazon Prime, etc., OTT apps are key factors hampering growth of the global television market. In addition, presence of large number of players in the global market and robust competition are other factors expected to restrain growth of the manufacturers operating in the target market.

Global Televisions Market Analysis by Type:

Among the type segments, currently, the under 32-inch segment dominates in the global market in terms of revenue and is expected to maintain its dominance over the forecast period. In addition, the 32-42-inch type segment is expected to register a CAGR of over 3.3% between 2019 and 2028.

Global Televisions Market Analysis by Application:

 

Among the application segments, currently, the home entertainment application segment dominates in the global market in terms of revenue and is expected to maintain its dominance over the forecast period. The home entertainment segment is expected to register a CAGR of over 3.1% between 2019 and 2028.

Global Televisions Market Analysis by Region:

The market in Asia Pacific is expected to register the highest share in terms of revenue in the global televisions market in 2018.

Major manufacturers are focusing on mergers & acquisitions, joint ventures, agreements, and new product launches in order to provide consumers with technologically advanced products, as well as to expand customer base and create revenue growth opportunities. For example, in October 2017, Huawei Technologies Co., Ltd., which is a China-based networking products and telecommunication solutions provider, and Dolby Laboratories, Inc. – which is a US-based audio and imaging technologies developer company – announced launch of Huawei Q22 set-top box. This unit is a IPTV set-top box, which supports Dolby Vision high-dynamic-range (HDR) technology.

In addition, rising adoption of smart TVs, 4K TVs, Apple TVs, IPTV services, coupled with development of high-speed broadband infrastructure across developing countries is expected to create lucrative opportunities for the player’s operation in the target market in Asia Pacific. Moreover, increasing focus towards investment in research and development activities in order to develop and offer smart solutions coupled with advanced features are other factors expected to drive the Asia Pacific market growth over the forecast period.

The market in North America is expected to register significant growth in terms of revenue over the forecast period, owing to technological advancements and innovative product launches by major key players operating in this market across various countries in this region. For example, in May 2019, VIZIO, Inc. launched new features in VIZIO SmartCast 3.0, which is the latest iteration of its easy-to-use smart TV experience designed to bring users more of the entertainment they want, all in one place.

Market Segmentation of Global Televisions Market:

Segmentation by Type:

• Under 32 inch
• 32-42 inch
• 42-48 inch
• 48-55 inch
• 55 inch & above

Segmentation by Application:

• Commercial Signage
• Home Entertainment

Segmentation by Region:

• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa