Albany, NY -- (SBWire) -- 12/12/2014 --The television market, in general, and the curved television market in particular are poised for healthy growth rates over the next five to six years. With continuous growth, the curved television market is being dubbed the 'rising star' of the home electronics market globally. The ongoing extensive investments by market majors such as Samsung, Apple and LG have only fuelled these expectations.
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What's driving the curved televisions market?
The market for curved televisions is ostensibly driven by their enhanced features offered. Terms such as ultra high definition (UHD), high contrast, 3D compatibility, no or low reflection, and optical retina displays have become synonymous with the curved television industry. Many consumers also prefer curved televisions for their wider field of view, and the enhanced sense of 'depth' that is created thanks to the intelligently-designed curvature of such televisions.
The conventional functions of the 'telly' as solely an entertainment device have been long replaced by new-age functions such as education, gaming, and internet connectivity. Curved screen televisions are now ubiquitous in offices, educational institutions, public spaces, airports and railway stations, control rooms, and more. Each of these locations demands different functions from a television.
The wave of curved televisions is better equipped to fulfill these evolving consumer requirements because of the enhanced features and viewing experience. More importantly, the curved televisions market needs to deliver high-resolution images that can improve viewer experience. The 4k resolution technology has been a major milestone for this industry, and leading market players continue to beat their previous best. As a result of this, a number of groundbreaking innovations are currently underway in the curved televisions market.
Another important product segment within the curved televisions market is the curved OLED TV which brings down power consumption by nearly 50% as compared to the older CRT and LCD televisions.
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Factors that the industry will have to contend with
Despite the numerous advantages and exciting features offered by the curved televisions market, challenges continue to exist here. One of the greatest hurdles to growth is the high initial cost of setting up a manufacturing facility. This capital-intensive nature of this industry puts existing majors in a better position to gain a lead in this market. New players may not be able to take the huge risks associated with the high cost of erecting a state-of-the-art R&D center and manufacturing operations.
Other minor arguments against curved televisions are that their curvature limits viewing angles and the viewing experience is sometimes marred by reflections. Consumer research has also shown that most people prefer large curved screen televisions as compared to their smaller counterparts.
Moreover, the high cost of the end product (curved television) itself deters consumers. The manufacturing costs of OLED displays, especially, are very high. Hitherto, these televisions have been most popular only in commercial trade centers and shopping malls, or in homes of affluent consumers. Market analysts expect the prices of curved televisions to slide in the next few years. As this happens, the rate of adoption will likely witness a surge.
Segmentation and competitive landscape of the curved televisions market
The global curved televisions market can be split on the basis of screen size as: large curved televisions, mid-sized curved televisions, and small curved televisions.
The competitive landscape of this market is similar to the larger television industry, where a few leading players are engaged in stiff competition. Many of these players regard their R&D acumen as their greatest asset and pump in millions of dollars into innovation every year.
By market share, some of the most notable players in the global curved televisions market are: LG Electronics, Inc., Samsung Electronics Co. Ltd., Haier Group, Sony Corporation, and Sichuan Changhong Electronics Co. Ltd.
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Curved Televisions Market - Riding High on the Innovation Wave
Transparency Market Research has published a new report titled "Curved Televisions Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019" to its report database