The global curved televisions (TVs) market is anticipated to expand at a substantial CAGR during the forecast period, 2021 – 2028. The growth of the market is attributed to the availability of advanced features such as high contrast & less reflection, stellar picture quality, and ultra-high definition (UHD) resolution.
Curved TV offers various features such as auto depth enhancement, 3D compatibility, reduction in reflection, and UHD resolution. Additionally, curved designs create a uniform and improved balanced view as compared to flat televisions. Geometric distortion in curved TVs is reduced with the help of curvature. In the case of flat screens, the corners are farther than the centre, which results in an elongated trapezoidal view.
In the case of curved screens, the slight curvature helps to reduce the distortion by more than 45% at an eight-foot viewing distance. Curved TVs reduces the operational cost as they are energy-efficient and environment friendly. Additionally, the curved edges provide a wider view than flat TVs that enhances the viewing experience of users.
Market Trends, Drivers, Restraints, and Opportunities
• Rising demand for innovative technologies and growing consumer inclination toward high image quality, advanced features, and large size in TV are speculated to increase the demand for curved TVs across the globe.
• The introduction of OLED technology in these devices ensures long life, low operational cost, energy efficiency, and include environment-friendly benefits. Thus, the integration of latest technologies is projected to drive the market growth during the forecast period.
• High cost of manufacturing can restrain the market growth.
• The emergence of COVID-19 outbreak has negatively impacted the curved televisions market. Manufacturing operations are temporarily closed across major manufacturing hubs, which leads to a significant slowdown in the production process.
• Recent technological advancements allow Internet connectivity to smart TVs. Such factors are boosting the growth of the curved televisions market.
• Features such as smartphone connectivity, games, and Internet applications are expected to rise the demand for curved televisions during the forecast period.
Scope of the Report
The report on the global curved televisions market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Global Curved Televisions Market Segment Insights
Mid-sized devices segment to account a significant market share.
On the basis of screen sizes, the market is segmented into large-sized curved televisions, mid-sized curved televisions, and small-sized curved televisions. The mid-sized curved television segment is expected to account for a significant market share during the forecast period. The common available screen size of the mid-sized devices are between 55 inches and 65 inches. They are more preferred among commercial spaces such as shopping malls, restaurants, and trade centers.
Commercial segment anticipated to account a considerable market share.
Based on end-users, the market is segmented into commercial, institutional, and residential. The commercial segment is anticipated to account for a considerable market share during the forecast period. Recent technological developments offer enhanced consumer experience, which saves time and increases sales for a business. Moreover, these devices are more favoured in restaurants as it can be used to display food items on the menu, which helps the customers to easily order the food items.
Asia Pacific projected to acquire a large market share.
In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is projected to acquire a large market share, in terms of revenue, during the forecast period. Rapidly growing consumer electronic industry in emerging economies such as India and China is expected to boost the curved television market development in the region. Rising standard of living and increasing disposable income are driving the product demand in this region. The presence of major manufacturing hubs in the regions has led to high production capacity and revenue generation.
The market in North America is expected to expand at a robust CAGR owing to the high spending capacity and increasing demand for technically advanced devices in countries such as the US and Canada. The introduction of IoT devices and rising number of smart homes are increasing the demand for curved televisions in this region.
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