The global television products market was valued at USD 100.3 billion in 2022 and is projected to expand at a CAGR of 5.2% from 2023 to 2030. The increasing demand for bigger screen sizes, as well as enhanced picture quality, is driving the market growth. The increasing disposable incomes of consumers, especially in developing countries, are also contributing to the demand for television products. The growing importance of the Internet of Things (IoT), Smart TV, and other advanced technologies in television products is also a major factor propelling the market growth.

Moreover, the increasing demand for OLED and QLED television products is creating lucrative opportunities for market players. OLED and QLED products are preferred over LCD and LED products due to their superior picture quality. Furthermore, the rising demand for 8K resolution is expected to have a positive impact on the market. 8K resolution provides users with a more immersive viewing experience due to its ultra-high definition picture quality. This is projected to increase the demand for 8K resolution television products in the coming years.

In addition, the increasing popularity of smart TVs is driving the demand for television products. Smart TV provides users with features such as internet connectivity, allowing users to access content from their favorite streaming services, as well as perform tasks such as video conferencing and gaming. Moreover, the advent of AI-enabled TVs, such as Samsung’s The Frame, is providing users with a more personalized viewing experience.

Moreover, the increasing demand for curved TVs is also creating lucrative opportunities for market players. Curved TVs provide users with a more immersive viewing experience due to their curved design. Furthermore, the increasing adoption of 4K resolution is also creating potential opportunities for market players. 4K resolution provides users with an ultra-high definition picture quality and enhanced viewing experience.

The increasing demand for television products from hotel, restaurant, and other hospitality service providers is also driving the market growth. Additionally, the increasing adoption of television products by commercial establishments such as shopping malls and corporate offices is also propelling the market growth. Furthermore, the increasing number of television product launches by leading vendors is also projected to drive the market growth in the coming years.

The OLED segment is anticipated to register the highest CAGR of 8.8% from 2020 to 2027. The introduction of OLED TVs, which offer superior picture quality, wide viewing angles, and a slim form factor, is expected to drive the segment growth. According to an article published by NBC News, in August 2020, LG launched its first rollable OLED TV with 65-inch display. Moreover, increasing penetration of 4K and 8K televisions and increasing demand for energy-efficient TVs are also fueling the segment growth.

The Smart TV segment is anticipated to hold the largest share of the market in 2022. Growing consumer inclination towards connected devices, increasing adoption of streaming services, and increasing consumer spending on consumer electronics are some of the major factors driving the segment growth. In addition, technological advancements such as voice recognition, cloud storage, and AI-enabled services are also driving the growth of the segment.

The retail stores segment captured the major share of over 45.3% in 2022. Consumers continue to prefer purchasing television products from retail stores due to the availability of a wide range of options and discounts. Moreover, retail stores also provide a touch and feel experience to the consumers, enabling them to assess the product before purchasing. Furthermore, retail stores are also preferred for after-sales services, such as repairs and maintenance.

The online segment is anticipated to expand at the highest CAGR of 12.4% over the forecast period. The surge in the number of internet users, coupled with the increasing penetration of smartphones and tablets, has been driving the growth of the segment. Moreover, the availability of a wide range of products and discounts offered by leading e-commerce players such as Amazon and Flipkart are driving the growth of the segment. In addition, the increasing number of manufacturers launching their own websites to sell television products is further propelling the growth of the segment.

The LCD segment accounted for the largest revenue share of 57.2% in the year 2022. The surge in demand for larger display panels and increasing demand for ultra-high definition (UHD) televisions are propelling the demand for the LCD segment. Additionally, the ability to offer thin and light form factors with improved image quality and better energy efficiency is likely to increase the demand for LCD televisions. Furthermore, the technological advancements such as the introduction of quantum dot technology and the increasing trend of curved LCD televisions is also likely to increase the demand for the LCD segment in the forecasted period.

The OLED segment is anticipated to expand at the highest CAGR of 10.3% over the forecast period. The OLED televisions are gaining popularity due to their advantages such as improved color contrast, improved viewing angles, and thin form factors. Additionally, the increasing disposable income and the rising trend of smart TVs are propelling the demand for the OLED segment. Moreover, the advancements in the OLED technology such as the introduction of rollable OLED televisions with improved features such as better power consumption and improved viewing angles are likely to drive the market in the forecasted period.

Asia Pacific is expected to witness the fastest growth in the coming years, owing to the presence of prominent players, such as Samsung and Sony, who are investing heavily in the region. The rising consumer preference for smart TVs and the increasing disposable income of the population in the region are some of the key factors driving the regional growth. Additionally, the growing demand for advanced home entertainment systems is further expected to fuel the market growth in the region.

North America is expected to witness a significant growth over the forecast period. The rising popularity of streaming services, such as Netflix, Hulu, and Amazon Prime, is one of the key factors driving the market growth in the region. Furthermore, the increasing demand for high-definition televisions is further expected to propel the growth of the market.

In this part of the television products business plan, we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your television products business. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions
The main source of revenues for a television products business comes from sales of television sets and accessories, subscription fees for streaming services, and advertising revenue. Other potential sources of revenue include the sale of repair services, warranties, and hosting events.

Projecting Expenses
In this section, all the regular expenses related to keeping the television products business running will be described. The list of operating expenses includes wages and salaries, rent or mortgage payments, inventory costs, insurance, advertising and marketing, utilities, repairs and maintenance, and others.

Some of the key companies operating in the television market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In April 2022, Samsung Electronics Co. Ltd. launched The Frame, a television that doubles as wall art.

– In May 2022, LG Electronics Inc. launched the Rollable OLED TV, a flexible OLED TV that can be rolled up into a box.

– In July 2022, Sony Corporation launched the Bravia XR series of TVs featuring the latest Picture Processor X1 Ultimate and Acoustic Multi-Audio sound technology.

Some of the prominent players in the television market include:

– Samsung Electronics Co. Ltd.
– LG Electronics Inc.
– Sony Corporation
– TCL Corporation
– Hisense Co., Ltd.
– Vizio, Inc.
– Skyworth Digital Holdings Limited
– Panasonic Corporation
– Koninklijke Philips N.V.
– Sharp Corporation

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global television products market based on technology, product, end-use, and region:

1. Technology Outlook (Revenue, USD Million, 2017 – 2030)

– OLED
– LCD
– LED
– QLED

2. Product Outlook (Revenue, USD Million, 2017 – 2030)

– Smart
– Standard
– 4K/Ultra-High Definition

3. End-Use Outlook (Revenue, USD Million, 2017 – 2030)

– Residential
– Commercial

4. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

[Q]: What are the Major Drivers of Growth in the Television Products Market?
[A]: The main drivers for the global television products market include increasing disposable income, rapid technological advancements, and changing lifestyle trends. The increasing demand for smart and connected television products, rising internet penetration, and increasing popularity of internet-based streaming services are some of the other factors driving the market.

[Q]: Who are the Major Players in the Television Products Market?
[A]: Major players in the global television products market include Samsung Electronics Co., Ltd., LG Electronics, Sony Corporation, Panasonic Corporation, Hisense Group, TCL Corporation, and Skyworth Digital Holdings Limited.

[Q]: What is the Potential of Product Innovation?
[A]: Product innovation is expected to remain a key factor driving the growth of the television products market. Companies are investing in developing innovative products that offer improved picture quality, advanced features, and convenience. For example, Samsung is focusing on developing 8K resolution television sets with improved picture quality and advanced features such as voice control for convenience.

[Q]: What is the Potential for Growth in Emerging Markets?
[A]: Emerging markets such as India and Brazil are expected to offer significant potential for growth for the television products market. Increasing urbanization and rising disposable income are expected to support market growth in these countries. Additionally, the increasing popularity of digital television and 4K resolution television sets are expected to drive the growth of the television products market in emerging markets.

[Q]: What are the Key Trends in the Television Products Market?
[A]: Major trends in the television products market include increasing popularity of smart television sets, growing demand for curved television sets, increasing demand for OLED television sets, and growing demand for large-screen television sets. Additionally, the increasing popularity of internet-based streaming services and the increasing adoption of Ultra-High Definition (UHD) television sets are expected to drive the growth of the market during the forecast period.