Market Scope
The Digital TV Market is projected to grow at a CAGR of 13%. According to the Digital TV Research by MRFR analysis, the market value is predicted to touch up to USD 218.9 billion during the forecast period 2018-2023.
Market Boosters and Top Barriers
Digital television has emerged as a highly welcome innovation in the TV industry, providing superior sound and picture quality with very less transmission bandwidth. It can be described as a digitally encoded format that helps capture, distribute, and broadcast programming all over the world. It is integrated with the digital and analog functions in a single design, in addition to offering a high degree of viewing experience to viewers.
The digital TV market benefits from high per capita disposable income, affordable prices, along with the expanding market for digital content. The market will be presented with a host of opportunities in the form of booming consumer electronics market.
Emerging nations also offer several growth opportunities to global players. After analyzing the data about the consumers in emerging countries within the consumer electronics industry, data experts report that the adoption of advanced technologies and products has risen considerably in recent years. Digital TVs are the most popular segment in the consumer electronics industry, and the surging economy as well as high per capita income can boost product demand in the coming years.
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Market Segmentation
The market for digital TV has been segmented with regard to type, resolution, and size.
Considering the type, the market includes EDTV, SDTV, HDTV, and others. HDTV helps provide videos with a high resolution. The growth of the HDTV segment is the result of increasing per capita disposable income, evolving lifestyle, and mounting awareness among consumers. HDTV is the latest technology to replace SDTV. The ultra-high-definition television (UHDTV) segmental growth in the market will be in response to the rising popularity of large screen sizes, integration of innovative technology platforms such as Android TV and demand for advanced technological features.
Resolution-wise, the market includes 720p, 1080p, 4K and others.
Depending on the size, the segments are 11’’- 32”, 33’’-42” and 44’’- 50”.
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Regional Insight
North America, Europe, Asia Pacific (APAC), and the rest of the world (RoW) are the top markets for digital TV identified by MRFR.
The APAC digital TV market is developing at the fastest rate, believe the data experts at MRFR. The fast-paced market progress is the result of increasing per capita disposable income in India and China. Moreover, integration of analog and digital components in digital TVs leading to superior viewing experience works in favor of the regional market.
North America is, however, the most profitable market for digital TV, given the high demand in the United States (US) and Canada. Consumers in the region prefer technically advanced digital TVs like QLED and OLED series. Also, favorable government initiatives, along with considerable high investments to develop IT infrastructure also benefits the regional market.
In Europe, surging digital content stands as an important factor driving the growth of the digital TV market. The media and entertainment companies in the region are developing with new lines of programs and channels; the digital TV industry gets a massive boost as a result. High disposable income and high level of urbanization in the region also stimulates marker growth.
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Top Vendors
Some of the prominent vendors shaping the worldwide digital TV market include Metz (Germany), Verizon FiOS (US), AT&T Inc. (US), LG Corporation (South Korea), Roku (US), Skyworth (China), TCL (China), Changhong (China), Konka (China), Hisense Corporation Ltd. (China), Vizio Incorporation (US), Vestel (Turkey), Funai (Japan), Loewe (Germany), DISH Network (US), Sony Corporation (Japan), Samsung Group (South Korea), Koninklijke Philips N.V. (The Netherlands), to name a few.
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About Market Research Future:
Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR’s methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
Our rapidly expanding market research company is assisted by a competent team of research analysts who provide useful analytics and data on technological and economic developments. Our deemed analysts make industrial visits and collect valuable information from influential market players. Our main goal is to keep our clients informed of new opportunities and challenges in various markets. We offer step-by-step assistance to our valued clients through strategic and consulting services to reach managerial and actionable decisions.