Comprehensive Televisions Market Analysis 2023: Size, Share, And Key Trends
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
As per The Business Research Company’s Televisions Global Market Report 2023, the televisions market is expected to show significant growth in the forecast period.
Key insights from the televisions market forecast include:
- Market Size
The worldwide television market is projected to increase from $82.2 billion in 2022 to $84.56 billion in 2023, with a 2.9% CAGR. By 2027, the global television market is expected to reach $94.38 billion, experiencing a 2.8% CAGR.
- Major Driver
Increased disposable incomes, driven by economic growth and middle-class expansion in developing nations like China, India, and Brazil, were key factors in the television market’s growth. In 2021, lower middle-income countries had per capita net disposable incomes ranging from $1,036 to $4,045, while upper middle-income countries had incomes ranging from $4,046 to $12,535, as per the World Bank. Growing earnings and disposable incomes in emerging markets bolstered the television market.
View More On The Televisions Market Report 2023 – https://www.thebusinessresearchcompany.com/report/televisions-global-market-report
- Key Trend
Ultra HD televisions are in high demand for their energy efficiency and superior image quality. This category encompasses 4K and 8K UHDs with a 16:9 or wider aspect ratio and a minimum resolution of 3840×2160 pixels. The shift from CRT and LCD TVs to ultra-HD TVs has been swift due to rapid technological advancements. For instance, in June 2020, TVB-Europe reported that over 50% of individuals aged 18-24 claimed to spend more time on video-sharing platforms than on broadcast TV. In developed countries like the US and the UK, smart TVs were present in 34% of global households by the end of 2020, with a 7.4% sales increase in 2020 and an expected majority share by 2026.
- Major Players
Major players in the televisions market are Samsung, LG, Sony, Hisense, TCL, Philips, Vizio, Toshiba, Skyworth, RCA, and Magnavox.
- Top Market Segments
The global televisions market is segmented –
1) By Product Type: Smart, Traditional
2) By End-User: Residential, Commercial, Other End-Users
3) By Technology: LCD, LED, OLED, QLED
4) By Screen Size: Below 32 Inches, 32 to 45 Inches, 46 to 55 Inches, 56 to 65 Inches, Above 65 Inches
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The Televisions Global Market Report 2023 provides an in-depth analysis on the televisions market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the televisions market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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