Global 4K Technology Market Expected to Boost Moderately over 2023
Posted by Minakshi on February 22nd, 2021
4K technology is on the way to substitute HD technology from TV screens, computer monitors, projectors, as well as cameras. On this, Market Research Future suggested a study that reveals that the 4K technology market might rise at a valuation of USD 150,202 Million by the year 2023. The rate of growth is calculated to be 21.29% of CAGR through the years from 2017 to 2023. The transition from standard definition to elevated definition resolutions has played a massive role in creating a 4K technology market for large screen TV all over the world.
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Top Impacting Factors
4K technology is mainly used in electronic devices to enhance its picture quality. The 4k image is composed of almost 8.3 Million pixels compared to the 1080p image, which of 2 Million pixels. 4K technology is an advanced feature that offers sharp quality pictures along with vibrant colors, which is one of the leading factors fascinating to the global 4k technology market. This is also probable to boost the global 4k technology market in the near future. Increasing the disposal income of people positively impacts global market growth. Moreover, preferences of people have changed to view the picture with advanced quality, which is accepted to stimulate the 4k technology market growth in the future.
In fact, the growing industrial revolution has also projected to foster the global market in the future timeframe. With this, technological proliferation has led to the development of UHD, which means 4K technology after full HD. This new product is known for having a better color display, improved sound quality crystal clear picture. Additionally, 4K TV supports extended colors and faster frame rates. All these factors have made the market to expand more mainly in the developed regions and score well in the future.
Furthermore, the main advantages of 4K technology are the higher resolution gives better quality. From the context of home, 4K in TV screens has a least resolution of 3,840 pixels wide and 2,160 pixels high, thus making it the corresponding to two 1080p screens in height and two in length. Despite these factors, 4K technology has few disadvantages which choose to hamper the growth of the4K technology market. The content recorded in 4K is still restricted. To transfer videos in 4K, it is obligatory to have a minimum bandwidth of 25Mbps. The exported archives are profound and take up much space. The prices of 4K televisions are not reachable for all pockets. All these factors are posing as a tough challenge for the market to reach its higher valuation throughout the forecast period.
Segmentation of Market: 4 K Technology
The North America region has been the foremost adopter of the 4K technology and leads the 4K display market expansion. The Asia Pacific is also likely to show growth in the coming years.
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About the AuthorMinakshi
Joined: January 28th, 2021
Articles Posted: 259
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