Curved Television Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI3401
Curved Television Market size size is predicted to register lucrative CAGR during the projected timeframe impelled by rapid growth in the television & entertainment industry. Rapid technological advancements in the television industry, such as 3D televisions, smart televisions, Organic LED (OLED), and curved television, have been implemented in recent years. These developments have led to enhanced user experience. The availability of high-resolution content from various content creators is supporting the adoption of these technologies. The devices are energy-efficient & environment-friendly and further reduce the operational cost. The curved television market is substantially growing due to enhanced viewing experience and depth features offered in these devices. Additionally, the curved edges provide a wider field of view, enhancing the viewing experience of users.
The main factor hindering the curved television market growth is the high price of TVs. They include components, such as OLED panels, which increase the product manufacturing cost. The complex manufacturing process for producing curved displays requires expensive machinery and skilled labor leading to increased manufacturing cost. The curved viewing angle adds to the geometrical distortion of images. Additionally, it exaggerates the reflection of direct light opposite to television, which is stretched & distorted across a wider area and degrades the image quality when compared with flat displays.
The enhanced features of these devices, such as high-resolution auto depth enhancer, wide view, and surround view, support the high demand. Additionally, the implementation of OLED technology in these devices ensures long life, low operational cost, low energy consumption, and include environment-friendly benefits. These features have led to the increasing demand for curved TVs, enhancing the viewing experience. Limited manufactures in the curved television market are providing several opportunities for new entrants. Another trend impacting the industry development is internet connectivity feature of smart TVs that has led to the availability of high-definition content. These trends are providing opportunities for high-definition devices, such as TVs and 4K television, increasing the market growth. These devices provide an enhanced viewing experience and due to this feature, they are gaining high popularity in the gaming industry.
In the curved television market, mid-sized devices are expected to gain high traction owing to their high implementation in the commercial sector. These mid-sized devices are available in screen sizes such as 55 inches and 65 inches. They are installed in commercial spaces such as shopping malls, trade centers, and restaurants. The mid-sized models have gained popularity in the home and commercial segments across the globe due to features such as viewing experience and depth. The availability of smart features, such as smartphone connectivity, internet applications, and games, will lead to a rise in the demand for curved television market products. The utilization of these TVs in the residential & commercial sectors has further led to the market growth. Several malls have created a curved wall display by using these devices, adding up to the aesthetics of the mall.
High utilization of these devices in the commercial sector is leading to the curved television market development. Customer experience is an important factor in the commercial sector implementation of these devices, which will aid in the growth of the sector. Developments & innovations for enhancing the customer experience, such as virtual trial room, which saves time and increases sales will further drive the market growth. Restaurants are using these devices to display various food items on the menu, which aids customers in the ordering process.
The consumer electronics industry in the Asia Pacific region is growing rapidly, fueling the curved television market development. Improved living standards and high spending capacity due to increased disposable income in China and India are supporting the market growth. The Asian countries are witnessing the presence of several major manufacturing companies, which is a major factor supporting high production capacity and revenue generation. The North American and European regions have a high number of customers in the market due to the high spending capacity and demand for technically advanced devices. Technological advancements, such as IoT and smart homes, are leading to a high demand for these devices. The federal government announced high investments in the IoT technology along with smart city projects, supporting the market expansion in the region.
The prominent players operating in the curved television market are LG Electronics, Inc., Samsung Electronics Co., Ltd., Haier Electronics Group Co., Ltd., Sony Corporation, and Sichuan Changhong Electronics Co., Ltd. The industry players have adopted growth & development strategies, such as new product launches & innovations, mergers, acquisitions, partnerships, and collaborations, to gain a competitive advantage and high revenues. For instance, in March 2017, Samsung Electronics Co., Ltd. announced the launch of its 22 more curved TV models globally. In October 2018, Haier Electronics Group Co., Ltd. announced the launch of its new Quantum Dot 4K LED curved television, which delivers perfect color and high dynamic range. The new product launch has aided in strengthening the company’s product portfolio.
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