The Curved Televisions market was valued at USD 0.14 billion in 2013 and is expected to reach USD 8.4 billion by 2019, growing at a CAGR of 96.7% from 2013 to 2019.
Albany, NY -- (SBWIRE) -- 03/14/2018 -- A TMR analyst says, "Key players in this market are concentrating on integrating channel services, which include logistics network, virtual networks, service networks, and distribution network in order to deliver end-to-end solutions for customers." This helps companies to enhance their competitive strength for business expansion.
Business growth by means of brand promotion in new markets is a key growth model that top companies are adopting. This is complemented by promoting product customization by means of emerging channels such as the Internet.
Innovative designs and utilization of cutting-edge technology are also what key players in this market are offering to gain competitive advantage.
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High Image Quality Offerings Benefit Market Growth
The demand for enhanced visual quality is a major factor driving the global curved television market. Presently, consumer expectations are increasing for better features, predominantly image quality. Curved television with 4K resolution has significantly amplified the image quality for end-users on the large screen. Key players such as Samsung and LG are developing newer products to serve consumer demand pertaining to image quality and display.
The inclusion of features such as a thin display is also augmenting the demand for curved television. This offers space saving advantage for consumers along with image quality and reduced power consumption features of curved television.
Technological Drawbacks Hinder Adoption of Curved Televisions
"The high price factor of curved television is limiting its adoption," says a TMR analyst. As such, the use of curved television is limited to commercial trade centers, shopping malls, and individuals with high disposable income. Presently, the cost of manufacturing OLED display is very high, which in turn, affects the cost of the final product.
The incompatibility of OLED technology with curved television affecting its lifespan is acting as a major restraint on the growth of the global curved television market. For instance, LCD display has an average lifespan of 100,000 hours. On the contrary, the lifetime of blue organics used in OLED displays has a much shorter lifespan of up to 14,000 hours.
The global curved television market is expected to reach a valuation of US$8.4 bn by 2019. On the basis of screen size, mid-sized television segment stood as the leading segment with 61.3% of the market in 2013. This is mainly due to the increased use of 65 inch and 55 inch for commercial and residential use.
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In 2013, North America led the global curved television market with more than 50% of the overall market. In North America, the U.S. accounts for the largest market for curved television, with the highest demand for mid-sized curved television. However, Asia Pacific and Rest of the World are expected to exhibit a sizeable demand for curved televisions due to rising disposable income and overall improvement in the economic index of countries in these regions.