4K technology also dubbed 4K resolution or simply 4K refers to the display resolution of 4000 pixels. This is commonly used in digital tv and cinematography offer a high quality of the visual display. 4K technology is available in TVs, home projectors, video cameras, and various others. Market Research Future has reviewed the global 4K Market to uncover the detail regarding the growth over the market over the forecast period from 2017 to 2023. MRFR has found that the global 4K Market is expected to grow at a CAGR of 21.29% during the assessment period which is expected to yield a market value of approximately USD 150,202 Bn by the end of 2023.
4K technology offers a number of advantages which all primarily revolve around the quality of the image. A high resolution often means a better quality of the image. The new technology in certain applications can improve the final product. For instance, 4K cameras enable users to capture extremely share images or video which can then be edited without loss of quality. Smooth text and graphics make 4K technology extremely comfortable on the eye. 4K technology can help photographers, graphic designers, and other visual professionals to achieve a better quality of work. Moreover, consumers display a high affinity for the latest in technology. Sharper more clear images are highly desirable and as such are driving the market.
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Notably, 4K technology products can be considered high end or luxury as they are highly expensive. Moreover, to transfer videos in 4K, it is a must to have a minimum bandwidth of 25 Mbps which can be somewhat discouraging of growth. However, as technology continues to improve and advance, the prices of 4K technology products are likely to reduce.
The global 4K Market has been segmented on the basis of type and region. Type has been segmented into digital content and physical type. Physical type has been further sub-segmented in the report into monitors, TVs, digital signage, smartphones, set-top boxes, Blu-ray players, cameras, projectors, laptops, and tablets. 4K laptops offer improved photo and video editing as well as higher storage and memory space for getting gaming among others. Various products have various key features which are enabled by 4K technology, mostly regarding the quality of visuals.
Regions covered in MRFR’s report include Europe, Asia Pacific, North America, and the Rest of the World.
The Asia Pacific is the leading regional market in the global 4K Market. Rapidly emerging economies in the APAC such as India, China, and Japan account for leading country level markets with massive electronics industries. These regions are home to several leading market players who have invested heavily in the development of 4K technology. Internationally recognized market players such as Canon, Sony, and LG are based in the APAC.
Meanwhile, the North American Market is witnessing rapid growth over the forecast period due to the high spending power in the region. Consumers in the region have a high affinity for new technology are will usually upgrade their devices when new tech is launched. The desire for high-quality visuals is driving the market in the North American regional market.
Leaders in the market have been identified and analyzed in MRFR’s report. Noted market players included are Samsung Electronics Corp. (South Korea), Hisense Co.Ltd (China), AsusTek Corp. (Taiwan), Innolux Corp. (Taiwan), Sony Corp. (Japan), Sharp Corp. (Japan), Canon Inc. (Japan), Blackmagic Design Pty Ltd. (Australia), Panasonic Corp. (Japan), JVC Kenwood Corp. (Japan), and LG Electronics Corp. (South Korea).
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