PUBLISHER: Mordor Intelligence | PRODUCT CODE: 1639438
PUBLISHER: Mordor Intelligence | PRODUCT CODE: 1639438
The 4K Display Resolution Market is expected to register a CAGR of 23.1% during the forecast period.
Many players are entering the market, and the market trend is moving toward fragmentation. The decline in the manufacturing cost of 4K displays is driving the market.
To facilitate the adoption of 4K display higher resolutions full HD products by consumers, vendors are integrating the technology into their existing product lines with moderate replacement costs.
The demand for gaming consoles and devices by major gaming brands, like Sony, has seen a significant increase owing to the increasing gaming industry. Thus, the requirement for good 4K LED screens has been increasing, driving the market.
Post-COVID-19, the market has seen a significant boost as the requirements for smartphones and laptops have increased due to the work-from-from culture opted for by many organizations.
Owing to various factors, such as growing demand for a better gaming experience, enriched entertainment, and the increasing availability of 4K content, the entertainment and media industry is expected to remain one of the primary applications of 4K technology.
Modern consumers are inclined toward TVs with 4K resolution due to the accurate color and color gamut support for graphics designing, photo editing, and examining the fine details of high-resolution images.
Major console manufacturers, like Microsoft and Sony, have released 4K-enabled consoles to offer a more immersive and advanced gaming experience. Hence, the sales of 4K TVs and monitors are expected to increase.
According to Sony, the company has expanded to smartphones, tablets, and HD televisions; as of September 2022, the network had approximately 103 million monthly active users.
Sony stated that the company sold a total of 3.9 million PS5 gaming consoles in the third quarter of the fiscal year 2021. Before that, the company sold around 7.8 million PS5 units in 2020. The sales of PS consoles generally tend to peak in the company's third fiscal quarter, which is the fourth calendar quarter, as people begin to prepare for the holiday season.
The 4K display resolution market is relatively fragmented and consists of several major players. In terms of market share, few major players currently dominate the market. However, with decreasing manufacturing costs and high competition, the companies are adopting product launch strategies to improve and gain market share.
In May 2022, Sony announced the new Xperia 1 IV smartphone, explicitly designed for those looking for the latest in smartphone technology, including advanced imaging technology, evolved gaming capabilities, and powerful audio features, all wrapped in a compact and modern design. It features three lenses: a 16 mm ultra-wide lens, a 24 mm wide lens, and a new unique true optical telephoto zoom 85-25 mm lens, to give creators the ability to capture a wide range of content. Moreover, it has an almost 50% brighter 4K 120Hz HDR display and real-time HDR drive.
In June 2022, Samsung Electronics announced the global availability of the 2022 Odyssey G85NB, G75NB, and G40B gaming monitor lineup, supporting the Odyssey's industry-leading position in delivering the most immersive and realistic gaming experience available in the market. According to the company, the G85NB comes with the world's first 240 Hz 4K gaming monitor and is available in a 32-inch format, offering super-realistic picture quality, rapid response times, and premium performance.