According to a detailed study report by Market Research Future (MRFR), “4K Technology Market Research Report: By Type, Physical Product- Forecast,” “4K Technology Market Research Report: By Type, Physical Product- Forecast” The market is estimated to reach a value of around 475,69 million US dollars by the end of 2030. Moreover, the findings forecast that the market would expand at a robust CAGR of over 22.6% over the assessment period.
4K Technology Market Perspectives:
The global market for 4K technology is expanding quickly. The use of 4K home theater projectors, 4K video cameras, and 4K displays for industrial and other applications is the primary driver of market demand. In addition, the increasing adoption of 4K displays in entertainment systems, automobile monitors, portable navigation devices, medical diagnostic equipment, and flexible display goods is a major factor in the market’s expansion.
The rapid expansion of the consumer electronics, media & entertainment, and sports industries bolsters market demand significantly. Also, the increasing demand for screens of superior quality in smartphones and other electronic gadgets stimulates market sales. Increasing urbanization and a growing global economy impact market expansion, hence increasing consumer spending power.
In addition, the increasing number of high-resolution product launches expands the market, hence boosting sales. Significant expenditures by manufacturers in R&D to produce additional innovations serve as significant market development drivers.
On the other hand, 4K technology has a few downsides, such as content recording constraints and the need for a minimum bandwidth of 25Mbps to transport videos. These constraints, together with the high price of 4K screens, are anticipated to be significant commercial restraints. Nonetheless, future technological advancements will help market expansion by advancing technology and providing cost-effective solutions.
Market leaders in 4K technology include the following firms:
- Panasonic, Inc. (Japan)
- Canon Corp. (Japan)
- AsusTek Corporation (Taiwan) JVC Kenwood Corporation (Japan) Sharp Corporation (Japan) Innolux Corporation (Taiwan) (Taiwan)
- Hisense Co.,Ltd. LG Electronics Corp. (South Korea) Blackmagic Design Pty Ltd. (Australia) (China)
- Sony Corp. (Japan) Samsung Electronics Corp. (South Korea) (Japan)
The current market landscape for 4K technology seems optimistic primarily because tech-focused TV manufacturers are spending in the development of specs, sound, watching, etc. According to MRFR, the increasing popularity of smart Televisions enabled a large gain in Q1 2022, culminating in the market share hitting its peak. The proliferation of streaming and OTT services will continue to drive the advancement of 4K technology.
4K Technology Market Divisions
The study on the 4K Technology Market is categorized by goods, pixels, recording devices, display technologies, end-user applications, and geographies. Sub-segments of the product segment include televisions, monitors, digital signs, set-top boxes, smartphones, tablets, laptops, projectors, cameras, Blu-ray players, and others. The pixel section is divided into 3840 x 2160 pixels, 406 x 2160 pixels, and other 4K resolutions.
Sub-segments of the recording devices market include 2K resolution, 5K resolution, 8K resolution, 10K resolution, 16K resolution, aspect ratio, digital cameras, graphics display resolution, high-efficiency video coding, ultra-high-definition television, and others. The sub-segments of the display technologies segment include light emitting diode (LED), high definition (HD), liquid crystal display (LCD), and ultra-high definition (UHD).
Subsegments of the end-user application market include commercial, advertising, entertainment, business, education, aerospace, and military, among others. The market is segmented by geography into Europe, the Americas, Asia-Pacific, and the remainder of the globe. APAC has the greatest market share among these regions, followed by North America and Europe.