UHD TV Market on Rise in North America, Says Technavio - TvTechnology

UHD TV Market on Rise in North America, Says Technavio

Market expected to grow at a CAGR of 48 percent
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LONDON—The picture seems pretty clear to Technavio analysts, as the group announced in a recent report that the market for UHD TV’s in North America is getting ready for a significant boost. According to Technavio, UHD TV’s are expected to grow at a compound annual growth rate of 48 percent till 2019. Analysts have indicated four factors that will drive this increase: advanced attributes of UHD TV’s, increase in popularity of 4K UHD TV’s, growing demand for large screen TVs, and evolving consumer preferences.

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Some of the advanced features that UHD TVs offer over SD or HD TVs include superior resolution, crisp pictures, extended color range and field of view, and enhanced optimizations to overall quality. The report pinpoints such features as reasons for the increased adoption of UHD TVs across North America.

Even with these advances, one of the biggest reasons for the growth in popularity of UHD TVs, according to the report, has been the offerings of 4K content by popular streaming services like Netflix and Amazon. The report says that more industry players are looking to invest in 4K UHD content, which is expected to only increase the formats popularity among consumers.

“Consumers these days are very quality conscious and discerning as a result of which they prefer TVs that support the latest resolution formats,” said Navin Rajendra, lead research analyst at Technavio for displays. “4K UHD is the best resolution a consumer can get. Hence, it is expected that the demand for 4K UHD TVs will increase during the forecast period.” With this demand for higher resolution TVs, it is also expected consumers will seek larger TVs, as 4K UHD content is not supposed to pixelate.

To access the full report, click here.