The appealing visualization of the curved television models is propelling its demand in the global market. Presently, the curved televisions market is limited to commercial trade centers, customers with high disposable incomes, and high-class shopping malls. As a result, the market penetration has remained low in 2013 and 2014. Nevertheless, it is anticipated that the global curved television market will demonstrate a healthy growth rate in the residential sector.
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In 2013, the global curved television market was worth US$0.14 billion and is further anticipated to touch US$8.4 billion by the end of 2019, exhibiting explosive 96.7% CAGR between the years 2013 and 2019. Factors such as innovative and enhanced features along with reduced prices of LED televisions are driving the growth of the curved televisions market. Innovative technologies such as OLED and LED are used in manufacturing process of curved television displays are playing an important role in cost determination.
The global curved television market is segmented on the basis of the screen size which is small-sized curved televisions, medium-sized curved televisions, and large-sized curved televisions.
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- Large-sized curved televisions screen sizes are available in 78 inches, 85 inches, and 105 inches. In 2013, large-sized curved television market was smaller than the other two types. However, the extensive promotional activities by companies such as LG and Samsung across the globe and the alternation in cost are expected to boost the demand of large-sized curved television market during the forecast period. Moreover, consumers in commercial sectors such as shopping malls and hotels are offering huge opportunities for the large-sized curved television manufacturers.
- Medium-sized curved televisions screen sizes are available in 55 inches and 65 inches. The medium-sized curved television is dominating the market in terms of revenue across the globe. This dominance is due to the rising demand of these specific sized televisions in the commercial sector.
- Small-sized curved televisions include screens that are less than 55 inches. Mostly, the standard small-sized curved televisions bear screen size of 48 inches. The demand of the small-sized curved televisions is rising thanks to the reducing prices. In July 2013, Samsung had launched its new model at US$15000, and further in August 2013, the company reduced its cost to US$9000. Owing to which, customers prefer flat screen televisions having similar features at a lower price than curved televisions.
Asia Pacific to Lead the Global Curved Television Market during the Forecast Period
The global curved television market is further segmented geographically in broad regions such as Asia Pacific, North America, Europe, and Rest of the World.
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In 2013, North America dominated the global market for curved televisions and held 53% of the total market share in terms of revenue, followed by Europe. This dominance was mainly due to the rising demand for customized solutions for television screens in both the regions. The extensive utilization of these televisions in commercial buildings and retails shops is driving the curved televisions market in North America.
The Asia Pacific curved televisions market is anticipated to exhibit an explosive 111.3% CAGR during the forecast period, owing to the rising preference of curved televisions in countries such as China and India. In addition, companies such as LG and Samsung in the Asia-Pacific region are the global leaders in television manufacturing and are further expected to develop solutions which will improve the customer’s experience.
Entrants from China to Capture the Global Curved Television Market during the Forecast Period
Players in the global curved television market experience a stiff competition. Some of the prominent players in this market are Sony Corporation, Sichuan Changhong Electronics Co. Ltd., Haier Group, Samsung Electronics Co. Ltd., and LG Electronics, Inc. These companies are leading the global curved television market. However, the entry of numerous Chinese television manufacturers is anticipated to take over the dominance of these market players in the near future.
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