Market for 4K UHD technologies explodingMonday, February 19th, 2018
Global Markets for 4K UHD Technologies Exploding: $80.6 Billion Gain in 5 Years
WELLESLEY, Mass. — The huge growth forecast for the 4K ultra high definition (UHD) global markets stems from the technology’s growing adoption, rising disposable incomes, technological advancements, expanding 4K content and increasing TV unit sales. In a new report, 4K Ultra-high Definition (UHD) Technologies: Global Markets to 2022, BCC Research estimates the global market to grow from $52.3 billion in 2017 to almost $132.9 billion by 2022, indicating a compound annual growth rate (CAGR) of 20.5%.
On the basis technology, the market is sub-segmented into LED technology, OLED technology and QLED technology. Accordingly, in terms of revenue, OLED technology dominates the global 3-D printing in the healthcare market and is estimated to generate $79.7 billion by 2022. In terms of the fastest-growing market, QLED technology is estimated to dominate the market with a CAGR of 35.8%. In terms of end use, the market is segmented into TVs, monitors, projectors, phones, virtual reality headsets and 4K recording devices.
Several companies are in the market for 4K UHD such as Micromax, Microsoft, Onida, Panasonic, Philips, Pimax Samsung, Sanyo, Sceptre, Sharp, Skyworth, Sony, StarVR, TCL, Toshiba, Acer, Videocon, Vizio, Vu Electronics, Westinghouse Electric, LG, AOC/TP Vision, Apple, Asus, Bang & Olufsen, BenQ, Changhong, Dell, Epson, Haier, Hisense, Insignia, JVC, Konka, Lenovo, LeTV, Loewe, Magnavox, Metz and Xiaomi. These companies work with LED, QLED and OLED technology. Samsung is the only company that works with QLED technology in 4K UHD.
- Asia-Pacific, which dominated the regional markets for 4K UHD in 2016 with revenues of $18.4 billion, is estimated to retain top spot through 2022 with revenues of $51.6 billion.
- By screen size, 50 to 55-inch screens are estimated to dominate the market with a share of 31.5% at a CAGR of 22.3% by 2022.
- According to 4K UHD service providers, the majority of internet users in the United States lack high-speed internet required to stream UHD at a constant speed of 25 megabits per second or higher, which is necessary to stream 4K UHD content from principal content providers.
“Growth in GDP and per capita income has been observed globally in the last few years. With the growth in disposable income, the capacity of end users to buy a product will increase,” said Anand Bhandari, BCC Research analyst and author of the report. “Sales of high-end electronic products have shown a consistently high growth rate. The developed economies of North America, such as the U.S. and Canada, and European countries, such as the U.K., Germany and France, have high per capita income showing steady growth. Developing economies, such as China and India which have less per capita income, are experiencing fast growth as well. These economies are estimated to be the major markets for 4K UHD in Asia-Pacific during the forecast period.”