Globally, 4K UHD technology is expected to grow at a compound annual growth rate (CAGR) of 20.5% through 2022, according to a new report from Research and Markets (www.researchandmarkets.com).
Ultra-high definition is the term used for resolutions over HD (1080p). It includes both 4K and 8K screen resolutions. However, Research and Markets’ report only includes 4K technology, which has garnered far more acceptance and popularity among end users.
4K UHD has witnessed a significant price drop and increased innovation in terms of screen size. This has led to a significant rise in the demand for 4K UHD televisions. The market for 4K UHD is segmented on the basis of screen size, screen technology and end use. In terms of screen size, the market is segmented into screens that are less than 40 inches, 40-49 inches, 50-60 inches, 60-65 inches and 70+ inches.
In terms of screen technology, the market is segmented on the basis of LED, OLED, QLED and others. Demand for LED and OLED is highest. In terms of end use, the market is segmented into TVs, phones, projectors, monitors and VR headsets. Most of the manufacturers in the market for 4K UHD are television manufacturers.
Research and Markets says there’s significant demand for higher resolution TVs. Set-top box manufacturers and service providers have also started rolling out 4K set-top boxes and services, which in turn is augmenting the demand for televisions. More content is being developed in 4K UHD technology. Sports events are being live telecasted in 4K quality too. Such developments are leading the surge in demand for 4K UHD TVs. Monitors and projectors are next in terms of market share whereas 4K UHD technology is still in development for phones and VR.