In the late 1990s and early 2000s, large-screen television technology (also known as big-screen TV) advanced quickly. Rear-projection television was utilized for many larger screens prior to the emergence of thin-screen technologies, and jumbo Tron, a non-projection video display technology, was used at stadiums and concerts. With increase in technical innovation and youth awareness of day-to-day information gained from television, television has become a valuable source of information, which has resulted in higher sales. Rise in residential complexes, restaurants, hotels, and other public gathering places provide a chance for giant screens to expand their market. Giant screens have grown increasingly popular as today's consumers prefer to watch sports on large-screen television. TV manufacturers have quickly embraced the marketing of light-emitting diode (LED) TVs as they are clearer, more colorful, and detail-rich, with higher quality images. Consumers tend to replace their televisions every five years, thanks to the downward trend in television prices.
COVID-19 Impact analysis
- The supply chain for consumer electronics is largely based in China. As prominent consumer electronics device OEMs, as well as components of OEMs have production facilities in China, the shutdown of manufacturing facilities in China has had a significant impact on the consumer electronics industry's entire ecosystem.
- The pandemic continues to wreak havoc on manufacturing, construction, hospitality, and leisure industries, with the latter absorbing the brunt of the damage due to slowed sales and lower consumer expenditure.
- Consumers choose to buy basics like food and cleaning supplies over non-essential, big-ticket purchases like LCD TVs due to reduced discretionary incomes and depressed consumer sentiment.
Top Impacting Factors
- The growth of the worldwide television services industry is influenced by an increase in internet users and acceptance of IoT. Furthermore, technological improvements in TVs such as 4K TV, HDTV, and IPTV, which has improved people's viewing experiences, have encouraged customers to purchase TV households, boosting demand for television services.
- One of the primary factors that drive the growth of the television services industry is the rapid use of internet-connected smart TVs. This is due to the fact that smart TVs and connected TVs have become popular in homes due to their high utility and smart capabilities, as well as the ability to connect to smartphones and the internet.
- Over the projected period, the 4K UHD category is expected to increase significantly. The lower pricing of these TVs have attracted users and generated demand in emerging markets. The rise is due to new features such as high resolution and picture clarity, as well as Dolby Digital sound, which give theatrical experiences on larger screens.
Market Trends
Significant Growth is Predicted for QLED
The quantum light-emitting diode (QLED) is an acronym for quantum light-emitting diode. QLED panels function in the same way that LED televisions do. The individual pixels are lit by a backlight made up of hundreds or thousands of LEDs. QLED outperforms traditional LEDs by supercharging the brightness and color of individual pixels using nanoparticles (quantum dots). As a result, the color is even better. The QLED Alliance, comprised of Samsung, Hisense and TCL, has been formed to further the Quantum Dot cause. This contributes to market expansion and new product development.
The market has mostly grown as a result of vendor releases over the last year. The QLED panel is projected to keep the greatest market share in the future due to rise in acceptance as it offers a variety of characteristics that other panel types do not. Samsung announced the debut of a new generation of QLED Smart TVs, the QT67 series, in its native market of South Korea in July 2020. These are Samsung's first QLEDs to earn a first-class energy efficiency rating. OnePlus officially revealed its smart TV in September 2019, marking the Chinese company's first push into non-smartphone technology.
The Television Market in Developing Countries is Predicted to Rise Significantly
Due to increased demand for smart TVs from end users and the emerging economies of India, China, and Japan, developing nations are the leading market for smart TVs, and this trend is likely to continue over the projection period. Consumers' increased net disposable income has been a major element in the region's continued demand. The rise in popularity of OTT VOD services such as Amazon Prime Video, Netflix, HOOQ, and others in these regions is also credited with the increase. The availability of supporting material for these devices, such as HD films, HD set-top boxes, and games, has also fueled demand.
Sharp has unveiled the Sharp Aquos 8T-C70CX1 and Sharp Aquos 8T-C60CX1 as two new 8K smart TVs for the Japanese market. They have 8K panels measuring 70 inches and 60 inches, respectively. Sharp Medalist Z1 image processing engine and Rich Color Technology Pro are included in the TVs, providing rich and realistic colors.
Key Benefits of the Report
- This study presents the analytical depiction of the large screen TVs industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the large screen TVs market share.
- The current market is quantitatively analyzed to highlight the growth scenario of the large screen TVs market.
- Porter’s five forces analysis illustrates the potency of buyers and suppliers in the market.
- The report provides a detailed large screen TVs market analysis based on competitive intensity and how the competition will take shape in coming years
Questions Answered in the Large Screen TVs Market Research Report
- Which are the leading players active in the large screen TVs market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
- What is "Large Screen TVs" Market prediction in the future?
- Which will be the niches at which players profiling with recent advancements should set a presence?
- What are the driving factors and opportunities in the market?
- What are the current trends and predicted trends?
- What are the challenges faced in the "Large Screen TVs" Market?
Large Screen TVs Market Report Highlights
| Aspects | Details |
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 Key Market Players | Westinghouse Electric Corporation, Apple, Inc., Sony Corporation, IZIO, Inc., Panasonic Corporation, Hitachi Ltd., TCL Corporation, Koninklijke Philips NV, Insignia Systems, Inc., Haier Group Corporation, Hisense Group Co. Ltd., Samsung Electronics Co. Ltd., LG Electronics, Inc., |
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