Published On : 21 Aug 2018
From the end-user perspective, 4K technology, referring to the display format having format of 4096 x 2160 pixels, is about a sharper and clearer quality of picture with more vibrant colors on a display. The massive rise in the intensity of competition in the consumer electronics sector with the rising affordability of technologically advanced consumer electronics devices for a continuously rising share of global population owing to rising disposable incomes have speeded up the rate of innovations. Since the HDMI 1.4 specification first added support for the 4K technology in 2009, the market for products with 4K technology has also witnessed vast upsurge across the globe.
Looking at the increased adoption of products with the technology, it can be easily said that the 4K technology market is leading a healthy course of expansion. The market is also expected to expand at an impressive pace in the next few years.
Dropping Costs of Displays to Bolster 4K Technology Market
The costs of digital displays has seen significant reduction over the years owing to the vast rise in the number of companies producing them. The massive surge in regional players in the display industry in regions such as Asia Pacific has further impacted the trend, allowing the easy integration of larger displays in a larger number of applications. With increase in the size of display, the difference in resolution becomes more noticeable. The scenario has indirectly increased the rate of adoption of products with the 4K technology. The increased usage of large displays in the fields of education, entertainment, and marketing will continue to drive the market for 4K technology.
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4K Technology TVs to Bring Maximum Revenues to Global Market
A variety of products are available in the market featuring the 4K technology, including monitor, TV, smartphone, set-top boxes, monitors, cameras, laptops, digital signage, and projectors. Of these, the segment of 4K TVs presently serves the most demand for the technology and is one of the most lucrative product segments for the global 4K technology market. The segment is likely to remain highly lucrative and account for a significant share in the overall market over the next few years as well, thanks to rising disposable incomes in emerging economies in regions such as Latin America and Asia Pacific.
The rising popularity of products that incorporate the use of the technology in advanced varieties of cameras, set-top box, and projectors is also likely to bring vast growth promise to the global 4K technology market in the next few years. The market for 4K cameras, especially, is likely to see significant rise as several social media platforms have given rise to professional photographers that earn their living through photos and videos and make up for potential consumers for high resolution cameras.
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