Global 4K Technology Market Subjected to Expand to Showcase Rampant Growth by 2023
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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Regional
Framework
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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