OLED technology leads the Ultra-High Definition/4K Panel market owing to the rising integration of these equipment in mobile phones and tablets.
— Televisions are dominating the Ultra-High Definition/4K Panel market owing to the surging use of these high-resolution devices in television. The increasing demand can be attributed to the excellent picture quality to enhance consumer viewing experience. Additionally, digital display screens are expected to witness a rapid growth over the projected timeline. Growth in this segment stems from the growing demand for signage publishing and advertising coupled with the extensive use of UHD displays in digital applications including cinema complexes, music, and sports events.
OLED technology leads the Ultra-High Definition/4K Panel market owing to the rising integration of these equipment in mobile phones and tablets. LCD segment is anticipated to hit approximately USD 18 billion by 2024. Use of light modulating properties and low power consumption is likely to propel the LCD technology demand in the forecast time frame.
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In 2015, the television application accounted for over 55% of revenue share and is set to register a CAGR of 11% over the period of 2016-2024. Demand for better customer viewing due to improved picture quality will propel 4k panel industry growth.
Retail is another booming sector which has been penetrated by the UHD technology. This is undoubtedly helping retailers to display their products with minute details and supreme clarity. A memorable shopping experience with UHD displays owing to its superior quality is attracting larger consumer base, thus driving ultra-high definition panel market. Digital display screens market worth USD 4 billion in 2015 is set to witness a significant growth curve, owing to rising demand from the advertising and publishing sectors. The growth of digital signage market due to rising commercial application in advertising is also worth noticing.
Continuous technological improvements have resulted in enhanced picture quality and extensive color combinations as 4K panel technology provides four times more resolution than full HD panels both horizontally and vertically. These features are expected to drive the global Ultra-High Definition/4K Panel market growth. These high-resolution devices can be easily modified for different applications which include aerospace & defense, consumer electronics, retail & advertisement, business & communication, and entertainment this will act as a catalyst for the industry growth. Further, a decrease in the price of 4K panel device may raise the product demand substantially in the forecast time frame.
For achieving better displays of mobile and tablet screens, LED technology is used which accounted for more than 45% in 2015 and is estimated to grow at an annual rate of 8.8% over the period of 2016-2024. LCD segment is another booming technology, projected to record USD 18 billion by 2024, owing to its lower power consumption feature. LCD uses the light modulating properties of liquid crystals which is gaining high preference in global Ultra-High Definition/4K Panel market.
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In terms of regional split, Asia Pacific ultra-high definition panel market share catered for over 20% of the overall industry in 2015 and is set to hit a CAGR of 11.6% over 2016-2024. North America 4K panel market, led by the U.S., is estimated to generate a revenue share of over USD 19 billion by 2024. The regional growth is subject to huge tech-savvy consumer base and intensive adoption of HD technologies.
The major players for Ultra-High Definition/4K Panel market include Dupont, SFA Engineering, XMOS, Yurui Chemical Co., Ltd., Aixtron AG, IPS Alpha Technology, Ltd., and SNU Precision. The key players are adopting various strategies to sustain and compete in the industry such as launching new technologically advanced products and having strategic partnerships to have maximum profit.
Glimpse of Table of Content (ToC)
Chapter 5. Ultra-High Definition/4k Panel Market Application Insights
5.1 Ultra-High Definition/4k Panel Market share by application, 2015 & 2024
5.2. Personal computers
5.2.1. Market estimates and forecasts by region, 2013 - 2024
5.3.1. Market estimates and forecasts by region, 2013 - 2024
5.4.1. Market estimates and forecasts by region, 2013 - 2024
5.5. Digital display screens
5.5.1. Market estimates and forecasts by region, 2013 - 2024
5.6.1. Market estimates and forecasts by region, 2013 – 2024
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