Ultra-high definition panel market is undergoing a massive global expansion, owing to the fact that these panels are endowed with quadruple times the resolution of conventional HD displays. UHD videos not only provide higher resolution, but also offer a wider dynamic range and better color gamut. Recent incorporation of ultra-high definition panels in various consumer electronics such as cameras, laptops, smartphones, and computer display screens is expected to spur the overall industry in the coming time frame. According to Global Market Insights, Inc., “In 2015, ultra-high definition panel market held a revenue of USD 16.5 billion, and is poised to surpass USD 44.41 billion by 2024 with a sharp CAGR of 11% over the period 2016-2024. Furthermore, in terms of volume, the market size is forecast to cover more than 7.5 million units.”
The buzzing technologies in ultra-high definition panel market are LCD and LED. Organic light emitting diode displays covered 45% of the total industry share in 2015, and is slated to grow tremendously at an annual growth rate of 8.8% over the coming seven years. Bearing a comparatively lower power consumption rate than LEDs, LCD based ultra-high definition panel market is projected to hit a revenue of USD 18 billion by 2024.
North America UHD/4K panel market size by application, 2013-2024 (USD Million)
The latest trend in today’s television is 4K, i.e., ultra HD. In a bid to improve the detailing and sharpness of big screens, ultra-high definition panels are mostly integrated in television sets. Ultra-high definition panel industry from television applications accounted for 55% of the total volume in 2015 and is anticipated to grow stupendously at a CAGR of 11% over 2016- 2024. 4K is rapidly evolving into a high standard for TVs, along with the growing penetration of the product in game consoles, camcorders, and smartphones.
Retail sector is also one of the prominent application segments which is actively partaking in ultra-high definition panel industry. These ultra HDs enable retailers to display their products in a more detailed and precise manner.
Ultra-high definition panel market from digital displays is anticipated to grow substantially at an annual growth rate of 11.7% over the coming time frame. The robust growth can be credited to world’s widespread digital signage in varied fields such as sports, cinema, and music concerts. Digital signage market which involves branding, advertising, information etc., is having a direct influence on the ultra-high definition market outlook. Ultra HDs have gained popularity both in residential as well as commercial sectors including hospitals, retail, as well as the government.
Below are the regional highlights pertaining to ultra-high definition panel industry over 2016-2024:
Key players operating in the ultra-high definition panel market include LG, Panasonic, Samsung Electronics, and Sony Electronics.