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The TV market size is forecast to increase by USD 64.70 billion at a CAGR of 7.85% between 2023 and 2028. Innovation in products, evolution of smart TVs, and the increasing preference for digital video content are primary growth drivers. Consumers prioritize superior entertainment experiences and demand high-definition content and immersive viewing, fueling a significant increase in demand for large-screen televisions. Additionally, continuous technological advancements and the expansion of e-commerce contribute to market growth. As technology progresses, consumers are able to access a wider range of content and enjoy more enhanced viewing experiences. This, in turn, leads to an upward trend in the sales of large-display televisions.
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The TV market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data for 2018 - 2022 for the following segments.
By Technology
The growth in market share of the UHD segment is expected to be substantial during the forecast period. UHD televisions boast a horizontal screen resolution of approximately 4,000 pixels and a resolution of 3,840 pixels by 2,160 lines, totaling 8.3 megapixels with an aspect ratio of 16:9. This specific digital video format is the most widely used in UHD televisions, leading to their popular moniker as "4K televisions."
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The UHD segment was the largest and was valued at USD 51.30 billion in 2018. The 8K Ultra High Definition (UHD) resolution market is poised for significant expansion in the coming years due to the increasing demand for high-resolution television sets and the growing need for enhanced content creation and home entertainment. With a resolution that is over 16 times greater than 1,080 pixels full HD, both horizontally and vertically, 8K displays offer a level of clarity and detail that surpasses current offerings. The popularity of large-display televisions has led to a shift towards high-resolution content, making 8K an attractive alternative to 4K TVs. Technological advancements will be a major driver of growth in the global 8K UHD resolution market. In anticipation of rising demand for 8K UHD televisions, display companies have been ramping up their production capacity to meet consumer needs. Consequently, the global 8K UHD television market experienced a marked increase in growth starting in 2019, a trend that is expected to continue throughout the forecast period.
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APAC is estimated to contribute 40% to the growth of the global TV market during the forecast period. According to Technavio's market analysis, the regional trends and influencing factors shaping the market growth during the forecast period are detailed in the report. Among all regions, APAC is projected to experience a more significant expansion than others. This growth can be attributed to the expanding middle class and their increasing disposable income, enabling them to invest more in consumer electronics. Furthermore, urbanization and evolving lifestyle preferences among the populace are fueling the demand for televisions in the region. APAC serves as a major manufacturing hub for high-definition (HD) and ultra-high definition (UHD) televisions, with several leading manufacturers headquartered in the region. The presence of prominent companies in the region, particularly in China, contributes to a lower average selling price (ASP) for televisions in APAC compared to other regions. Additionally, APAC is home to leading companies in integrated circuit (IC) drivers and panel displays, as well as original equipment manufacturers (OEMs). This robust industry ecosystem in the region is a significant factor driving the growth of the television market in APAC.
The market for television and video services continues to expand, encompassing a variety of offerings including cable broadcasting, satellite, and internet protocol services. Fueled by consumer demand for access to high-quality content and advanced high-definition viewing experiences, providers are broadening their selections from broadcasting cable TV to encompass ultra-high-definition services and smart TV capabilities. Additionally, there is a growing trend towards fiber optic services and over-the-top platforms, as viewer preferences evolve. As innovative technologies such as OLED displays and foldable screens gain popularity, there is a move towards sleek, eco-friendly designs that blend art and entertainment. Both residential and commercial sectors are adopting these advancements, resulting in substantial growth within the industry. Our team of researchers has examined industry research and growth data, utilizing 2023 as a benchmark year. A comprehensive examination of the drivers will enable businesses to fine-tune their marketing strategies, thereby securing a competitive edge.
The rising popularity of large-display televisions is notably driving TV market growth. The global market for large displays is experiencing significant growth, with consumer demand being a major driving factor. In 2018, the average television size globally was 40 inches. However, many companies now offer televisions with screens exceeding 80 inches, a trend that is particularly prevalent in North America and the Asia Pacific region. Another factor contributing to market expansion is the increasing popularity of video walls. Comprised of multiple monitors arranged together to create a single large screen, video walls offer superior qualities and are increasingly used in both large settings and manufacturing facilities as digital signages.
Organizations across various industries are recognizing the value of flexible video deployments, which provide numerous benefits. For instance, manufacturing facilities utilize large-area displays, such as video walls, to disseminate real-time information via digital solutions and display data on inventory levels and daily output. These factors are expected to propel the television market forward during the forecast period.
The increased demand for smart televisions is an emerging trend in the market. Smart televisions, or connected televisions, have gained significant traction in the market due to their integrated internet capabilities and interactive Web 2.0 features. These advanced televisions now offer 4K resolution, which has fueled their increasing popularity. The demand for smart televisions is on the rise as consumers prioritize self-sustaining internet streaming capabilities. Major players in the industry, including LG and Samsung, provide Android-powered smart televisions. Sony offers a range of LED and OLED Android smart televisions in various display sizes.
The availability of smart televisions at par with traditional models has contributed to their widespread adoption in metropolitan areas, small towns, and secondary cities. This trend is expected to shape the growth and trends in the television market during the forecast period. Key companies' offerings in this sector will continue to influence consumer preferences and drive market expansion.
The demand-supply gap associated with LCD panels is a major challenge impeding TV market growth. The disparity between the demand and supply of LCD panels is a significant challenge impeding market expansion in this sector. The production of display components for television sets has been experiencing a deficit. Panel manufacturers are encountering challenges such as capacity adjustments, a rise in average display size, and a burgeoning Chinese market. Consumer preferences are shifting towards larger display sizes, rendering older inventory of panels obsolete and driving up manufacturing costs. In 2019, many television companies decreased their LCD panel purchases, anticipating a weak demand for televisions.
Furthermore, it is projected that television panel shipments will grow at a faster rate than LCD shipments, thereby widening the gap between supply and demand in the global value chain. Given that television panel shipments are not in sync with television sales, this situation is predicted to result in a supply-demand disparity throughout the forecast period. Consequently, these factors will hinder the growth of the television market during the forecast period.
The television market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the TV market research and growth report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The TV market research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak. The market report also includes an in-depth analysis of market trends and analysis, market growth analysis and challenges. Furthermore, the report includes historic market data for 2018 - 2022.
In the rapidly changing world of television, content security systems have become essential for protecting entertainment content in both residential and commercial sectors. With the growth of pay TV and TV-as-a-Service (TVaaS), viewers have access to a vast array of programming and data through postpaid and prepaid services. As the pay TV market expands, it attracts investors looking to capitalize on future market trends. The emergence of smart TV enhancements, such as frameless designs and console compatibility, adds versatility to the viewing experience. This evolution is fueled by technological advancements like digital television and the shift from analog to digital. Furthermore, with increasing disposable incomes and the rise of emerging economies, the market continues to flourish, providing a wide range of product types and content delivery options, including Internet-connected and storage-aware computers.
The integration of visual image and sound transmission system technologies continues to improve the consumer experience in both residential and commercial settings. The industry's transformation, driven by the shift from analog to digital and advancements like storage-aware computers, has led to significant growth in consumer electronics. Additionally, the inclusion of gaming capabilities in television sets caters to diverse housing units and territories. Services like Spotv offer postpaid options, contributing to a vibrant ecosystem of television providers. As the industry advances, these developments underscore the dynamic nature of the market and its ongoing dedication to meeting the diverse needs of consumers.
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Market Scope |
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Report Coverage |
Details |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.85% |
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Market growth 2024-2028 |
USD 64.7 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
7.09 |
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Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 40% |
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Key countries |
China, US, South Korea, India, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks, Television Market Industry Report |
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Key companies profiled |
Apple Inc., Changhong, Elitelux Australia, Funai Electric Co. Ltd., Haier Smart Home Co. Ltd., Hisense International Co. Ltd., Koninklijke Philips N.V., Konka Group Co. Ltd., LG Electronics Inc., Micromax Informatics Ltd., MIRC Electronics Ltd., Panasonic Holdings Corp., Samsung Electronics Co. Ltd., Sharp Corp., Skyworth Group Ltd., Sony Group Corp., TCL Electronics Holdings Ltd., Videocon Industries Ltd., VIZIO Holding Corp., and Xiaomi Communications Co. Ltd. |
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Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the market forecast period, television market growth analysis |
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Customization purview |
If our television market report report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Technology
7 Market Segmentation by Display Size
8 Market Segmentation by Display Type
9 Customer Landscape
10 Geographic Landscape
11 Drivers, Challenges, and Opportunity/Restraints
12 Competitive Landscape
13 Competitive Analysis
14 Appendix
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