New York, US, May 23, 2022 (GLOBE NEWSWIRE) -- Digital TV Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Digital TV Market” information by Type, by Resolution and Region – Forecast to 2030” market size to reach USD 220 billion, growing at a compound annual growth rate of 14% by 2030.
Digital TV Market Scope:
The global digital TV market has been witnessing continual revenue growth. Over the past couple of years, the augmenting demand for digital content substantiates the market size. Moreover, technological innovations that changed TV viewing and advances in connectivity technologies escalate the market value.
Dominant Key Players in Digital TV Market Covered are:
- Sony Corporation (Japan)
- Samsung Group (South Korea)
- Vizio Inc. (US)
- Hisense Co. Ltd. (China)
- Haier Group Corporation (China)
- LG Corporation (South Korea)
- AT&T Inc. (US)
- Koninklijke Philips N.V. (Netherlands)
- DISH Network (US)
- Roku (US)
- Verizon FiOS (US)
- Skyworth (China)
- Changhong (China)
- TCL (China)
- Konka (China)
- Metz (EU)
- Loewe (Eu)
- Funai (Japan)
- Vestel (EU)
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The consumer electronics industry is highly based on consumer liking to research findings. Besides, increased uptake of new technological solutions, alongside the rising consumer electronics demand and competition among digital television providers, contributes to the market revenues.
The availability of low-cost but high-quality televisions and the growing demand for technologically advanced consumer electronics influence the market shares. Conversely, privacy & security concern is one of the key factors projected to impede market growth.
Market USP Exclusively Encompassed:
Digital TV Market Drivers
Emerging countries show an exceptional thirst for adopting new technologies & products. As the effects of the COVID 19 pandemic subside, the video distribution landscape is changing rapidly. The shift from viewing to streaming, which accelerated from the first quarter of 2021 and continued to 2022, allowed new data-based business models to emerge.
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The digital TV market witnesses some trends, such as consolidation among major players, the emergence of new technologies, and moves to revitalize legacy media businesses. Meanwhile, the increased focus on advertising as subscription growth narrows is continuing to transform the shape of the global digital TV market dynamics in multiple ways.
A lot many surveys are running to find out the overall digital TV landscape, the phenomenal growth of FAST channels, the concept of super-aggregation, the issues raised by streaming technology challenges & solutions, and the growing use of TV-as-a-Service by network operators to deliver video offerings as part of a multi-play proposition.
Segmentation of Market Covered in the Research:
The Digital TV Market report is segmented into types, resolutions, sizes, and regions. The type segment is sub-segmented into EDTV, HDTV, SDTV, and others. The resolutions segment is sub-segmented into 720p, 1080p, 4K, and others. The size segment is sub-segmented into11- 32 inches, 33 -42 inches, 44 - 50 inches, and above. The region segment is sub-segmented into North America, Europe, Asia Pacific, and the Rest-of-the-World.
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Regional Analysis
North America dominates the global digital TV market. The largest market share attributes to the high impact of technological advances and innovative digital content availability. Besides, economies of scale and the early adoption of digital technology drive the growth of the market.
Moreover, emerging technological solutions, alongside the augmenting demand for digital televisions and sharper picture quality, increase the sale of digital TVs in this region. Among other North American countries, the US holds a larger share in the regional market. The North American digital TV market is projected to retain its dominance throughout the estimated period.
Europe is the second-largest market for digital TV. Technological advancements and the presence of some of the key market players in the region drive the regional market growth. Additionally, the resurging economy in the region plays a causal role in enhancing the market shares, increasing consumers’ purchasing power.
APAC is another lucrative market for digital TV, headed by the presence of giant manufacturers, such as Sony, Samsung, and Panasonic, known for their high-quality resolution technology. Furthermore, the rapidly increasing per capita disposable income and the availability of low-cost but high-quality televisions increase the region’s market shares.
The growing demand for consumer electronics upgraded with the latest technologies boosts the market size. Also, factors such as the increased adoption of highly advanced consumer electronics and increasing competition among digital television providers help the market to proliferate.
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Competitive Landscape
The global digital TV market appears to be highly competitive. Well-established players incorporate strategic initiatives such as acquisition, collaboration, partnership, expansion, and product launch to gain a larger competitive share and maintain their market position.
These players acquire promising companies in the fast-growing markets to improve their market performance. They employ a continuous improvement strategy and analyze and update their software and launch new technologies to meet the changing demands of customers. Substantial investments are being transpired in the R&D sector, which, in turn, are helping the market to grow.
Providers strive to offer standard and custom-designed products and provide superior performance and long-term service for demanding buyers. They emphasize quality and use the latest techniques and quality standards, ensuring top quality and maximum performance.
For instance, on Nov. 08, 2021, Redge Media (Poland), a leading technology outfit, announced its partnership with Beacon (South Korea), a dominating set-top specialist, to provide integrated product offerings primarily covering the Android and RDK ecosystems for online or hybrid environments.
Redge Media offers a technology platform for building online TV, including encoders, CDN, origin, and Multi-DRM & player for video delivery. It also provides a backend to manage content, services and users and frontend applications for a range of connected TVs, PC browsers, and mobiles.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
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