4K technology is on the way to substitute HD technology from TV screens, computer monitors, projectors, as well as cameras. On this, Market Research Future suggested a study that reveals that the 4K technology market might rise at a valuation of USD 150,202 Million by the year 2023. The rate of growth is calculated to be 21.29% of CAGR through the years from 2017 to 2023. The transition from standard definition to elevated definition resolutions has played a massive role in creating a 4K technology market for large screen TV all over the world.
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Top Impacting Factors
4K technology is mainly used in electronic devices to enhance its picture quality. The 4k image is composed of almost 8.3 Million pixels compared to the 1080p image, which of 2 Million pixels. 4K technology is an advanced feature that offers sharp quality pictures along with vibrant colors, which is one of the leading factors fascinating to the global 4k technology market. This is also probable to boost the global 4k technology market in the near future. Increasing the disposal income of people positively impacts global market growth. Moreover, preferences of people have changed to view the picture with advanced quality, which is accepted to stimulate the 4k technology market growth in the future.
In fact, the growing industrial revolution has also projected to foster the global market in the future timeframe. With this, technological proliferation has led to the development of UHD, which means 4K technology after full HD. This new product is known for having a better color display, improved sound quality crystal clear picture. Additionally, 4K TV supports extended colors and faster frame rates. All these factors have made the market to expand more mainly in the developed regions and score well in the future.
Furthermore, the main advantages of 4K technology are the higher resolution gives better quality. From the context of home, 4K in TV screens has a least resolution of 3,840 pixels wide and 2,160 pixels high, thus making it the corresponding to two 1080p screens in height and two in length. Despite these factors, 4K technology has few disadvantages which choose to hamper the growth of the4K technology market. The content recorded in 4K is still restricted. To transfer videos in 4K, it is obligatory to have a minimum bandwidth of 25Mbps. The exported archives are profound and take up much space. The prices of 4K televisions are not reachable for all pockets. All these factors are posing as a tough challenge for the market to reach its higher valuation throughout the forecast period.
Segmentation of Market: 4 K Technology
As per the study, the global 4K technology market has further been studied among the main segments of the product, which includes TVs, digital signage, monitors, Smartphones, set-top boxes, laptops, tablets, cameras, projectors, blue-ray players. New technologies facilitate users to capture the sharpest video and edit without losing its quality. 4K cameras support the flash memory used by photographers and videographers. 4K cameras can shoot videos with the practice of any single frame as high-res image allows photographers capturing without compromising on quality. The high resolution in the 4K market offers users detailed gaming features as well. A 4K laptop consists of the extra pixel that provides photographers with a sharp image, smooth text, and graphics. 4K laptops also provide users a high storage option for software interfaces. The elevated memory space and better gaming platform are driving the 4K laptop market.
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Currently, the Asia-Pacific region is the leading player in the 4K technology market. North America region is also one of the rising markets in the region owing to high spending powers. The growing economies such as Japan, India, and China have acquired the largest market share owing to mounting electronics industries in this region. The forthcoming revolution in technology is changing the market of the display with higher resolution. 4K technology refers to pixel size. It consists of 3840 or 4096 horizontal pixels and 2190 vertical pixels. Japan and Korea are possible to show rapid growth owing to the incidence of the broadcasting system industry. Also, China is in the same line of growth and be the leader in the shipment of 4K TV in the future timeframe.
The North America region has been the foremost adopter of the 4K technology and leads the 4K display market expansion. The Asia Pacific is also likely to show growth in the coming years.
Top Competitive Market Players
Some of the foremost companies working in the market are Panasonic Corp. (Japan), Canon Inc. (Japan), AsusTek Corp. (Taiwan), JVC Kenwood Corp. (Japan), Sharp Corp. (Japan), Innolux Corp. (Taiwan), LG Electronics Corp. (South Korea), Blackmagic Design Pty Ltd. (Australia), Hisense Co.Ltd (China), Samsung Electronics Corp. (South Korea), and Sony Corp. (Japan).
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