Ultra High Definition Panel (4K) Market to Reach US$30,404.6 million by 2020

2024-11-08 02:51:52 News & Society

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The global electronics market today is filled to the brim with a spectrum of new screen technologies that come with personal computers, smartphones, handheld devices such as cameras and tablets, television sets of all shapes and sizes, and others. Some of the existing screen technologies that the market offers at present are liquid-crystal display (LCD), light-emitting diode (LED), high definition (HD), and full high definition. However, according to industry experts, none of these existing technologies is on the verge of acquiring a dominant share in the field of digital media.

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U.S.-based market research firm Transparency Market Research recently published a report, which forecasts the global ultra high definition panel market to expand at an impressive 12.6% CAGR between 2014 and 2020. Based on volume sales, the report predicts the market to register a CAGR of 9.2% and reach 5,704.5 thousand units by 2020. Meanwhile, the market, in terms of total value, is likely to reach US$30,404.6 million by the end of 2020.

Continuing Demand for Advanced Visual Quality to Fuel UHD Panel Market

4K technology, also referred to as UHD (ultra-high definition), is an enveloping term that encompasses visual resolution technology offering four times more pixels than conventional HD TV. The rapid proliferation of UHD displays in the commercial sector and UHD television in the industry of media and broadcasting is a prime factor responsible for the expansion of the global ultra high definition panel market. UHD television comes with an array of features such as high picture resolution, extensive gamut of color, and a wide dynamic range to let consumers explore new genres of entertainment.

Since the advent of UHD technology, its application has extended to industries including advertising and signage and publishing. The technology is also used for digital applications such as the large UHD displays at large venues to broadcast video content and live feeds during music or sports events. Its growing use in art and culture as a potent technology for displaying and preserving objects has emerged as a key parameter fuelling the demand from the global UHD panel market. While the high cost of integrating UHD technology into existing technological framework could inhibit its growth to an extent, but continuous innovation lowering costs of UHD displays is likely to create lucrative opportunities for the manufacturers to capitalize on.

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North America to Remain Largest Regional Market for UHD Panels

Amongst the wide range of UHD technology applications, the segment of display screens and walls is anticipated to register the most promising CAGR of 17.5% in the next five years. Escalating demand for high-definition display screens for digital signage in the commercial sector will give an incredible impetus to the demand for UHD technology in this segment. Of the key regional markets, North America will remain undisputed as the UHD market leader till 2020 owing to high consumer awareness and acceptance of products integrated with UHD panels. In 2013, Europe and North America collectively held over 70% of the global UHD panel market. Asia Pacific is projected to stage the fastest growth as the regional market for UHD panel at a 15.1% CAGR.

Leading companies such as LG Display Co., Samsung Electronics, Sony Electronics, Inc., and Toshiba Corporation dominate the global UHD panel market. Samsung and LG Corporation led the global market for UHD panels in 2013, collectively accounting for 47% of the total revenue generated in the market.