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Traditional TV & Home Video Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global traditional TV & home video products market was valued at USD 43.4 billion in 2022 and is projected to expand at a CAGR of 4.2% from 2023 to 2030. The growth of the market is driven by the emergence of digital media and the increasing demand for on-demand content. The growing penetration of smartphones and other digital devices with improved internet connectivity is providing tremendous opportunities for the streaming of video content. This has resulted in the emergence of several online video streaming services, such as Netflix, Hulu, and Amazon Prime, which are leading to a significant shift in the way people consume content. Furthermore, increasing investments in the production of original content and exclusive music and sports content are further driving the market growth.
The growing trend of cord-cutting, or switching from cable or satellite services to streaming services, is also driving the market growth. Furthermore, the emergence of ‘skinny bundles’, which offer smaller and more affordable packages of channels, is also a major factor driving the market. Additionally, the increasing use of advanced technologies in traditional TVs, such as OLED and QLED, is expected to propel the market growth in the coming years.
The increasing demand for smart TVs is another major factor driving the market growth. Smart TVs offer various features, such as internet connectivity, better picture quality, and streaming services, which are more appealing to consumers. Furthermore, the increasing demand for 4K TVs is also expected to fuel the market growth. 4K TVs provide four times the resolution of Full HD TVs, along with other features such as higher color accuracy and better sound. Moreover, the increasing investments in the development of next-generation technologies such as 8K and OLED are expected to further drive the market growth.
The increasing demand for home video products is propelling the market growth. The growing trend of binge-watching is driving the demand for DVD players and other home video products. Moreover, the emergence of low-cost DVD players is further driving the market growth. Furthermore, the increasing demand for home theater systems and soundbars is driving the market growth. Additionally, the increasing trend of organizing home parties is driving the demand for home video products, such as projectors and sound systems.
Product Insights
The traditional TV segment led the market and accounted for a share of around 58.4% in 2022. The increasing demand for high resolution images and rising concerns regarding the clarity of picture is driving the demand of traditional TVs globally. Furthermore, the availability of a wide range of products at competitive prices, along with the availability of special offers and discounts, is propelling the growth of the traditional TV segment. Moreover, the introduction of smart TVs and the increasing adoption of 4K and 8K resolution TVs is further driving the market growth.
The home video segment is expected to expand at the fastest CAGR of 8.0% over the forecast period. The increasing demand for home video products is attributed to the rising internet penetration, digitalization of households, and the availability of a wide range of products at competitive prices. According to an article published by the University of California, in December 2019, 43% of consumers are expected to purchase a home video product in the near future due to the rising popularity of streaming services. In addition, the increasing number of movie releases and the growing popularity of home entertainment products are driving the market growth.
Distribution Channel Insights
The traditional TV & home video products market is dominated by the retail segment, which accounted for a market share of nearly 65.1% in 2022. The segment is likely to remain dominant over the forecast period due to the growing presence of retail stores such as supermarkets, hypermarkets, and specialty stores. These stores provide an opportunity to the customers to compare and experience the products before making a purchase. Additionally, the presence of a large number of retail stores has increased the availability of traditional TV & home video products and has provided an advantage to the players in the market.
The online segment is anticipated to expand at the highest CAGR of 10.2% during the forecast period. The growing internet penetration and rising usage of smartphones and other connected devices has driven the market for traditional TV & home video products through online stores. Companies are focusing on launching their own online stores to increase their reach and create visibility for their products. For instance, in December 2022, Sony launched its online store in India, which offers the latest traditional TV & home video products. This has increased the availability of traditional TV & home video products through online stores, which is expected to drive the segment in the near future.
Type Insights
The television segment accounted for the largest revenue share of 68.2% in 2020. The increasing demand for television sets with advanced features such as internet connectivity and the advancement in display technology such as OLED and QLED are driving the growth of the segment. Furthermore, the rising demand for smart TVs and the increasing availability of digital content such as streaming services, including Netflix and Amazon Prime, are further propelling the traditional television segment.
The home video segment is expected to register the highest CAGR of 6.4% over the forecast period. The increasing availability of streaming services, such as Hulu and Disney+, is increasing the demand for home video products, such as Blu-ray players and DVD players. Furthermore, the increasing usage of digital content, such as 4K video, and the rising demand for smart TVs are expected to further drive the market.
Regional Insights
Europe held the largest revenue share of over 35.6% in 2022. Strict government regulations, along with a growing demand for digital solutions, is expected to drive the growth of the market in the region. Moreover, the presence of leading traditional TV & home video brands such as Philips, Sony, and Samsung is further expected to boost product visibility among consumers. For instance, in April 2022, Samsung launched its flagship Neo QLED TV series with 8K resolution in Europe.
North America is expected to register the second-highest growth in the coming years. The presence of notable players in this region, such as Apple and Netflix, allows customers to access a variety of content. Changing consumer preferences, such as a shift from cable TV to streaming services, is expected to be a key factor for the growth of the market in North America. For instance, in April 2022, Apple TV+ launched the ‘The Mosquito Coast’ series in the U.S.
Financial Projections
In this part of the traditional TV & home video 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 the traditional TV & home video products business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for a traditional TV & home video products business comes from the sales of televisions, DVD and Blu-Ray players, streaming services, and other related products. Other possible sources of profit include advertising, subscription services, and the sale of apps and add-ons.
Projecting Expenses
In this section, all the regular expenses related to keeping the traditional TV & home video products business running will be described. The list of operating expenses includes wages, maintenance and repairs, utilities, insurance policies, advertising, and others. Additionally, the business should plan for the cost of product inventory, shipping, and taxes, as well as the cost of any licenses or permits required to run the business.
Key companies & market share insights
Some of the key companies operating in the traditional TV & home video products 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 June 2022, Sony Corporation launched the XBR85X900F Ultra HDTV, offering 4K resolution.
– In August 2022, LG Electronics launched the OLED65CXPUA 4K Smart UHD TV, offering a wide range of features.
– In October 2022, Samsung Electronics launched the QLED Q90T Series 4K UHD TV, offering a wide range of features such as HDR10+,AI upscaling, and Quantum Processor 4K.
Some of the prominent players in the traditional TV & home video products market include:
– Sony Corporation
– LG Electronics
– Samsung Electronics Co., Ltd.
– Panasonic Corporation
– Philips Electronics
– Sharp Corporation
– Toshiba Corporation
– Hisense Group
– Skyworth Digital Holdings
– Vizio, Inc.
Global Traditional TV & Home Video Market Segmentation
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 traditional TV & home video products market based on product, distribution channel, device type, and region:
1. Product Outlook (Revenue, USD Million, 2017 – 2030)
– TV Sets
– Home Video Products
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Retail Stores
– Online
– Others
3. Device Type Outlook (Revenue, USD Million, 2017 – 2030)
– CRT
– LCD
– LED
– OLED
– Others
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What are the Major Trends in the Traditional TV & Home Video Product Market?
[A]: Currently, the market is witnessing an upsurge in demand for new entertainment options. This has led to the growth of streaming platforms such as Netflix and Amazon Prime, which offer a variety of movies, TV shows, and other content. The increasing penetration of smart TVs and a surge in demand for virtual reality content is also driving the growth of the traditional TV & home video product market.
[Q]: Who are the Key Players in the Traditional TV & Home Video Product Market?
[A]: Key players in the traditional TV & home video product market include Sony Corporation, LG Electronics, Panasonic Corporation, Samsung Electronics Co. Ltd., Hisense Co., Ltd., Roku, Inc., Apple Inc., and VIZIO, Inc.
[Q]: What are the Factors Restraining the Growth of Traditional TV & Home Video Products?
[A]: The rising popularity of streaming services and the emergence of online video streaming applications are some of the factors that are expected to limit the growth of the traditional TV & home video product market over the forecast period. Additionally, the cost of these products is high, making it difficult for people with low disposable incomes to purchase them.
[Q]: What Regions Offer the Largest Opportunity for Sales of Traditional TV & Home Video Products?
[A]: North America is expected to be the largest regional market for traditional TV & home video products, with an estimated absolute dollar opportunity of $14.5 B (USD). This can be attributed to the rising consumer preference for technologically advanced products and the presence of various leading companies in this region.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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