The global curved televisions market is poised for steady growth over the forecast period owing to availability of enhanced features such as better picture quality, high contrast & less reflection, ultra high definition (UHD) resolution. In addition to these, curved television (TV) provide an enhanced viewing experience through functions such as auto depth enhancer, uniform viewing distance, and 3D & 4D compatibility. OLED and LED technology used in curved television offer durability, high energy efficiency, and less operational cost. Moreover, increased viewer demands for enriched visual effects bundled with crisp sound output has led to the growth of global curved TV market.
Curved designs offered by manufacturers create a more balanced and uniform view as compared to their flat counterparts. Geometric distortion can be reduced with the help of slight curvature. For instance, in Flat TVs, the corners of the screen are farther than the centre which makes them smaller, thereby resulting in an elongated trapezoidal view, whereas in curved televisions the slight curvature reduces the distortion by approximately 50% at a typical 8-foot viewing distance. The OLED TV with its curved form provides curved trajectory which helps to maintain constant viewing focus.
Curved televisions with 4K resolution provide enhanced image quality on a relatively large screen. Curved televisions offer better viewing experience on account of their larger & brighter screen in comparison to flat televisions because of convergence of light on the centre of the screen. Curved OLED televisions reduce power consumption in comparison to CRT and LCD televisions. Curved design reduces the number of reflections on the screen and eliminates certain angles which helps in making the display technology provide perfect blacks and dark image contents thereby preventing the light being reflected off the screen.
High manufacturing costs is expected to limit the growth of the curved televisions market to a few key applications such as commercial trade centers, shopping malls, and use by affluent consumers. Moreover technological barriers in R&D of curved televisions are expected to pose a major challenge to the growth of the market.
The global curved TV market can be segmented on the basis of screen size into large, medium and small screen televisions. The market can also be segmented according to the end-user segment into commercial, institutional and residential users. Manufacturers are expected to focus on the untapped residential curved television market to gain a competitive advantage.
In terms of revenue, North America and Europe are expected to be the major contributors to the curved TV market due to the increase in the demand of customized solutions for television screens. Increased disposable incomes and changing consumer preferences in the developing economies such as India, Brazil and Japan is estimated to fuel the growth of the curved televisions market in the Asia Pacific region.
Key curved television market players include LG Electronics Inc., Haier Group, Sony Corporation, Sichuan Changhong Electronics Co. Ltd and Samsung Electronics Co. Ltd.
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The ongoing COVID-19 outbreak has adversely affected the display industry with manufacturing operations temporarily suspended across major manufacturing hubs, leading to a substantial slowdown in the production. Major manufacturers including Samsung, LG Display, and Xiaomi among others have suspended their manufacturing operations in China, India, South Korea, and European countries. In addition to having an impact on the production, the ongoing pandemic has taken a toll on the consumer demand for display integrated devices, likely exacerbated by the lockdown imposed across major countries. Uncertainty regarding the possible length of lockdown makes it difficult to anticipate how and when a resurgence in the display industry will occur. On the flip side, increased demand for displays in medical equipment including ventilators and respirators is expected to keep the demand for displays afloat in the coming months. The report will account for Covid19 as a key market contributor.