4K TV Market size is poised to cross USD 600 Billion by the end of 2033, growing at a CAGR of 21% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of global 4K TV’s was over USD 160 Billion. The growth of the market can be attributed primarily to the rising adoption of innovative technology in business along with increasing IT spending. It was observed that the majority of organizations allocate 63% of their tech budgets to running business operations, with the remainder 37% being allocated to innovation and growth.
4K television is an ultra-high definition (UHD) television. 4K TV’s have a resolution of 3,840 pixels* 2,160 lines (8.3 megapixels, aspect ratio 16:9). This 4K resolution is four times the resolution of full HD. 4K televisions provide a wider range of colors and pictures appears are more vibrant. Moreover, the need for affordable televisions, rising production capacities, advanced television resolutions and sizes, increasing purchasing power along with rapid urbanization are factors anticipated to drive 4K TV's market growth over the forecast period. For instance, there is an unprecedented rate of urbanization around the world. Today, over half of the world's population lives in towns and cities, and this number is expected to increase to almost 5 billion by 2030.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
21% |
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Base Year Market Size (2022) |
USD 160 Billion |
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Forecast Year Market Size (2033) |
USD 600 Billion |
Technology {Organic Light Emitting Diode (OLED), Light Emitting Diode (LED)}
The global 4K TV’s market is segmented and analyzed for demand and supply by technology into Organic Light Emitting Diode (OLED) and Light Emitting Diode (LED). Among these segments, the Organic Light Emitting Diode (OLED) segment is anticipated to capture the largest market size in the global 4K TV’s market owing to the increasing consumption of 4K and HD content, smart TV development coupled with increasing product launches by manufacturers. For instance, LG Electronics has released a 97-inch organic light-emitting diode (OLED) TV in North America at CEDIA Expo 2022, which is the largest organic light-emitting diode TV in the world. The latest technology in display technology, OLED, has enabled the most stunning TVs in history - offering the highest level of image quality combined with the thinnest displays ever produced. Moreover, OLED will enable transparent TVs with large rollable screens in the future.
Our in-depth analysis of the global 4K TV’s market includes the following segments:
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By Screen Size |
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By Technology |
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By Screen Type |
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By Distribution Channel |
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By Price Range |
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Regionally, the global 4K TV’s market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in Asia Pacific is projected to hold the largest market share by the end of 2033 owing to the development of television technology, rising demand for high-end electronic products coupled with rising per capita income. For instance, in 2021, China citizens' per capita disposable income was USD 5,200, an increase of 9% compared to 2020. Further, emerging economies such as India and China, the growing popularity of UHD set top boxes, and product innovation by manufacturers in China and South Korea are expected to fuel the regional market growth over the forecast period.
Author Credits: Abhishek Verma, Hetal Singh
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