According to MarketsandMarkets research report, “4K Technology Market by Product (TVs, Monitors, Digital Signage, Set-Top Boxes, Smartphones, Tablets, Laptops, Projectors, Cameras, and Blu-Ray Players) and Geography (North America, Europe, APAC, and RoW) – Global Analysis and Forecast to 2020” the 4K technology market was valued at USD 18.1 Billion in 2014 and it is expected to grow at a CAGR of 21.8% from 2015 to 2020.
The term 4K is used to refer to video signals with a horizontal resolution on the order of 4,000 pixels. These figures will continue to grow year-over-year along with revenue increases of 94% over the next couple of years.
With the increasing amount of consumer awareness around 4K, it is gradually leading to the replacement of TV screens, computer monitors, cameras, laptops, and projectors. Different 4K technology-enabled products which have been considered in this report include TVs, monitors, tablets, smartphones, cameras, laptops, digital signage, set-top boxes, and Blu-ray players. 4K TVs accounted for the largest market share of 49% of the 4K technology market in 2014.
The report also includes the market dynamics such as drivers, restraints, opportunities, and challenges. Apart from the market segmentation, the report also includes the critical market data and qualitative information for each product type, along with the critical analysis such as the Porter’s five forces analysis and the value chain analysis.
One in four consumers said they plan to buy a new TV this year, including 38% of those under age 30, according to the deal site FatWallet.com’s TV buyer survey, released in January. Among those who are planning a purchase, 53% said they would spend more than $500, up 18% from 2014. The percentage of those planning to buy 4K TV jumped 45%, the survey showed, representing 11% of planned purchasers.
4K, one of the biggest technology buzzwords today, is a great fit for digital signage, with its potential to create stunning visual experiences. The technology boasts about four times as many pixels as other leading technology. The result is an image that is up to four times crisper than that offered by 1080p screens, which were previously the gold standard for HD. Images look visually intriguing, more modern, more immersive, and more sophisticated on a 4K display than the HD equivalents to which customers grew accustomed to. As momentum around 4K continues to build, most experts agree that this new technology is here to stay.