PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1515449
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1515449
LCD TV Core Chip Market size was valued at USD 70,124.2 Million in 2023, expanding at a CAGR of 7.20% from 2024 to 2032.
The combination of LCD TV technology and a processor core chip results in the LCD TV core chip, which enhances the computational power of television sets. TV computing performance is increased through this integration, which blends core chip functionalities with the strengths of LCD TVs. By seamlessly combining internet-based information and content from TV providers into a well-balanced platform known as smart television, core processors in LCD TVs not only enhance user experience but also do away with the necessity for separate set-top boxes. As a result, consumers can download desired content and easily access websites and online retailers, maximizing the usefulness of smart TVs.
LCD TV Core Chip Market- Market Dynamics
Increased Demand in Smart Televisions to Propel Market Growth
One major factor propelling the growth of the LCD TV core chip market is the growing demand for smart TVs. Because smart TVs offer a smooth, integrated entertainment experience, consumers are starting to favor them more and more. Due to their internet connectivity, these televisions allow users to access social networking, streaming services, and other online information straight from the TV screen. Smart TVs are becoming more and more popular as more homes implement smart home technology. This is because they can be seamlessly integrated with other smart devices. More sophisticated and potent core chips are required to handle features like high-definition video streaming, quick and responsive user interfaces, and sophisticated graphics as a result of this trend. In order to satisfy these expectations, manufacturers are heavily investing in the creation of high-performance core chips, which is fueling the growth of the market.
LCD TV Core Chip Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 7.20% over the forecast period (2024-2032)
Based on application segmentation, the residential category was predicted to show maximum market share in the year 2023
Based on type segmentation, the 32-bit category was the leading type in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global LCD TV Core Chip Market is segmented on the basis of Application, Type, and Region.
The market is divided into three categories based on application: Residential, Commercial, and Educational. The residential category dominates the market. Customer adoption of smart LCD televisions has increased significantly as a result of the home market's expansion. The market for LCD TV core chips has grown more competitive due to the abundance of local and foreign providers. The fierce competition amongst long-standing firms has made it more difficult for newcomers to break into the market. In addition, the LCD TV industry's dependence on Core chip-type suppliers for business startups restricts its possibilities for growth and necessitates large capital expenditures.
The market is divided into the following categories based on type: 8-bit, 16-bit, 32-bit, and 64-bit. The 32-bit category dominates the market and is likely to maintain its dominance during the forecast period. With 32-bit core, which offers 4,294,967,296 color choices, more vibrant gradients, shadows, and transparency are achievable. As the number of supported colors rises, more RAM is needed. In contrast, the majority of modern video cards feature enough RAM to support 32-bit graphics at most resolutions. Video cards and older computers can handle visuals up to 16 bits in size.
LCD TV Core Chip Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
Over the course of the forecast period, North America is anticipated to hold the greatest share of the global market for LCD TV core chips. LCD Smart TVs are gaining popularity in North American countries such as the USA and Canada. The market for LCD TV core chips in North America has grown as a result of this. There's a strong desire for LCD TVs because they're both ecologically and energy-efficient. Significant sales growth in the global LCD TV core chip market has been observed in North America. Over the past few years, North America has seen an increase in demand for LCD Smart TVs.
In addition, the LCD TV core chip market is anticipated to expand at the fastest rate in the world during the projected period in Asia Pacific. The main reason for this market lead is the robust presence of core chip and LCD TV manufacturers, such LG, Samsung, and others, in this area. Leading economies in the Asia-Pacific region, such as China, Japan, Korea, and Taiwan, are also home to a sizable number of producers with a focus on LCD TV core chip manufacturing.
The global market for LCD TV core chips is highly fragmented, with both well-established players and up-and-coming competitors vying for market share such as Amlogic, Lenovo, LG, and MediaTek, among others. Strategic partnerships, cutting-edge technologies, and innovation are important growth drivers. Furthermore, putting sophisticated features, energy efficiency, and core chip optimization first is in line with changing customer demands. This dynamic environment fosters creativity and advances the capabilities of LCD TV core chips.
June 2023: With improvements akin to those of the 43-inch model, Xiaomi introduced the 32-inch Xiaomi TV EA43 in China, keeping the essential features of the 2022 edition. Its primary feature is a 64-bit quad-core CPU, which is a big upgrade over the preceding Amlogic chipset with 2 cores. This technological advancement also strengthens Xiaomi's commitment to enhancing both TV performance and user experience.
GLOBAL LCD TV CORE CHIP MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Amlogic
Lenovo
Xiaomi
LG
Panasonic
Philips
MediaTek
Sony
Samsung
Toshiba
Broadcom
Others