Digital TV is a way of receiving a television signal in a digital format which allows TV companies to broadcast a higher definition picture, better quality sound, and a wider range of channels than ever before. Additionally, digital TV has many other advantages over its analog predecessor, such as the interactive nature of the service.
Digital Television allows users to easily access the information by entering menus and interacting with their television. In addition to this, viewers can also listen to radio channels and even watch archived programs via digital ‘on-demand’ services. More advanced digital TV services also allow users to access the Internet via the television set.
Due to the augmenting demand for digital content, over the past couple of years, the global digital TV market is growing at a rapid pace. Moreover, technological innovations that changed the perception of TV viewing and advancements in connectivity technologies are escalating the market on the global platform.
Considering the rapid growth that the market is witnessing currently, Market Research Future (MRFR) in its recently published study analysis, asserts that the already booming global Digital TV market would garner exponential accruals by 2023, registering an impressive CAGR throughout the forecast period 2017-2023.
The growing consumer electronics market is a key driving force behind the growth of the market. The consumer electronics industry is majorly based on the research findings about the consumers’ likings, and emerging countries shows an exceptional thirst for the adoption of new technologies & products.
On the flip side, privacy & security concern is one of the key factors impeding the growth of the Digital Television Industry. Digital TVs are capable of streaming content from the Internet, which makes it vulnerable. As digital televisions are becoming part of the information grid, the concern regarding security and privacy is also increasing and along with it are growing the numbers of cases against cybercrimes.
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Global Digital TV Market – Segments
For the convenience of understanding, the report is segmented into four key dynamics;
By Type : HDTV, EDTV, and SDTV.
By Resolutions : 720p, 1080p, and 4K among others.
By Size : 11”- 32”, 33’’-42”, 44’’- 50’’, and more.
By Region : Europe, North America, Asia Pacific, and the Rest-of-the-World.
Global Digital TV Market – Regional Analysis
North America, heading with the high impact of technological advancement, is expected to retain its dominance over the global digital TV market throughout the forecast period. Additional factors such as the availability of digital content and economies of scale alongside the early adoption of digital technology boost the growth of the regional market.
The US, among other North American countries, contributes largely to the overall growth of the regional market. Furthermore, the emergence of new technological solutions, augmenting demand for digital televisions and sharper picture quality, and increasing sale of televisions in this region are some of the major factors boosting the highest revenue growth in the digital TV market in North America.
The digital TV market in Europe accounts for the second-largest market, globally. The region had acquired around 29% of the market share in 2016. Technological advancements and the presence of some of the key market players in the region are key some of the driving forces behind the growth of the regional market. Indeed, the resurging economy in the region is playing a causal role in driving the demand in the market, increasing consumers’ purchasing power.
The Asia Pacific digital TV market accounts for another lucrative market, globally. Factors such as the presence of giant providers such as Samsung, Sony, and Panasonic and their hi-tech resolution quality drive the growth of the regional market.
Moreover, the rapidly improving economy that is improving the quality of lives by increasing per capita disposable income, the availability of low-cost but high-quality televisions, and the growing demand of technologically advanced consumer electronics products foster the growth of the market in the region.
Furthermore, factors such as the increased adoption of new technological solutions, increasing competition among digital television providers, and the increasing demand for consumer electronics helps the market to proliferate.
Global Digital TV Market – Competitive Analysis
Characterized by the presence of several giant players like Sony Corporation, Videocon, LG, and Samsung Group, among others; 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 in order to gain a competitive advantage and to 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 product and can provide superior performance and provide long-term service for demanding buyers. They emphasize on quality and use the latest techniques and quality standards, ensuring top quality and maximum performance.
Major Players:
Some of the players leading the digital TV market include 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), and Vestel (EU) among others.
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About Market Research Future:
Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
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