According to Market Research Future (MRFR), The global digital TV market is estimated to grow at 13% CAGR from 2017 to 2023 (forecast period). The report involves the COVID-19 analysis of the global digital TV market and offers a detailed overview of market segments, current trends, growth forecasts, and market challenges to determine market opportunities.
Digital television is a modern development in the TV industry that offers superior picture and sound quality with limited bandwidth transmission. It is a digitally encoded format that captures, distributes, and broadcasts programming across the globe. Digital television is incorporated in a single design of analog and digital functions and provides users a high level of viewing experience. The critical driving factors listed in this report are high per capita disposable income, affordable prices, and growing digital content industry. Privacy and lack of digital infrastructure in developing countries are the key challenges facing this sector.
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Market Dynamics
The rising consumer electronics market is one of the enormous opportunities for the digital TV market. Emerging countries give many opportunities for growth to global players. Market research findings in developing economies in the consumer electronics industry suggest the growing acceptance of new technologies and products. Digital TVs are a main product in the consumer electronics market, and the rising economy and high per capita income have led to increased demand for these products.
A recent study found that developing countries are creating more demand for digital television than countries like Japan, Germany, France, and the US. The rising economy in countries such as India and China and rapid urbanization are the main reason why customers have spent a large percentage of their annual income on consumer electrical items, including digital television. Some of the major industry players, including Samsung Group, Hisense Co., Ltd, Sony Corporation, LG Corporation, and Vizio Inc., are anticipated to dominate the global digital television market during the forecast period.
Market Segmentation
The global market for digital TV market has been segmented into type, resolution, and size.
By type, the global market for digital TV market has been classified into EDTV, SDTV, HDTV, and others. HDTV provides videos that are sharp with a high resolution. The factors pushing the growth of the HDTV segment are growing per capita disposable income, evolving lifestyles, and rising customer awareness. HDTV is a modern form of technology that has begun to replace SDTV. Asia Pacific is projected to be the fastest-growing area in this segment due to the increasing demand for high-end technology. The ultra-high-definition television (UHDTV) sub-segment is expected to rise over the forecast period, mainly due to the popularity of large screen sizes, advanced technical features, and the introduction of emerging technology platforms such as Android TV.
By resolution, the global market for digital TV market has been classified into 480p (640 x 480), 720p (1280*720), 1080p (1920*1080), and others (4K).
By size, the global market for digital TV market has been classified into 11”-32”, 32”-42”, 42”-50”, and 50” & above.
Regional Analysis
Globally, the global digital TV industry has been divided into four regions: North America, Europe, Asia Pacific, and the rest of the world.
North America is projected to be the largest digital TV market as the region has experienced strong demand for digital content across the United States and Canada. In addition, consumers in this region have a clear inclination to follow technologically advanced digital TVs such as the OLED and QLED series.
Europe has had favorable government policies and high rates of investment in the growth of IT infrastructure.
The Asia Pacific region has seen a growing demand for consumer electronics and smart televisions. This can be due to the growth of the digital TV market in the region.
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Key Players
The key participants identified by MRFR in the Global Digital TV Market are Samsung Group (South Korea), Sony Corporation (Japan), Vizio Incorporation (US), Roku (US), Skyworth (China), TCL (China), Changhong (China), Konka (China), Loewe (Germany), Hisense Corporation Ltd. (China), Metz (Germany), Vestel (Turkey), Funai (Japan), Koninklijke Philips N.V. (The Netherlands), LG Corporation (South Korea), AT&T Inc. (US), DISH Network (US), and Verizon FiOS (US).
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