Innovative design and enhanced features of curved television have led to the increasing demand for these devices from commercial as well as residential sectors. These televisions attract the customer’s attention; as a result, advertisers use these televisions to display their offerings in various retail outlets and exclusive showrooms.
Enhanced features of curved televisions include surround view, auto depth enhancer, uniform viewing distance, amazing real colors and high resolution (Full HD and Ultra HD) among others. Additionally, the use of LED and OLED technologies in curved television ensures long life, energy efficiency, environment friendliness and low operational cost. These features encourage customers to purchase curved televisions to improve the viewing experience. Presently, there are a limited number of manufacturers of curved television in the market; however, over the forecast period more players are expected to enter into the market. Manufacturers such as Toshiba, Panasonic and Hisense Co. Ltd. among others who are leaders in television industry are expected to enter into the market with curved televisions in their product portfolio.
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The large-sized curved televisions include screens with standard sizes such as 105 inches, 85 inches and 78 inches. In 2013, the market for large-sized curved television was small as compared to mid-sized and small-sized curved televisions. However, with increasing promotional activities by companies such as Samsung and LG across the globe and alteration in prices, the market for large-sized curved television is expected to grow in coming years. Additionally, customers in commercial sector such as hotel industry and shopping malls offer tremendous opportunities for the curved televisions manufacturers to market their large-sized curved televisions.
The mid-sized curved televisions are available with screen sizes such as 65 inches and 55 inches. The mid-sized curved televisions market is leading in terms of revenue share across all the geographies. This dominance attributed to the demand of such televisions in commercial sector. The small-sized curved televisions include television with screen sizes less than 55 inches. Generally, the standard small-sized curved televisions are available with screen size of 48 inches. The demand for such television is expected to increase over the forecast period. This demand is attributed to reduction in prices of curved televisions. For instance, in July, 2013 Samsung launched its 55 inches curved televisions for USD 15,000 and in August 2013 the company reduced its price to USD 9,000. Due to high prices, customers chose flat screen television with similar features at fewer prices over curved televisions.
In 2013, North America was the largest market in terms of revenue followed by Europe. However, the Asia-Pacific and RoW are expected to show high growth over the forecast period. This is due to the tremendous opportunities in these regional markets owing to low penetration compared to North America and Europe. Rising disposable income and increasing living standards in emerging economies of Asia-Pacific and RoW are some important factors supporting the growth of curved television market in these regions.
The global market for curved television is highly competitive in nature with leading players such as Samsung Electronics Co. Ltd., LG Electronics, Inc., Haier Group, Sony Corporation and Sichuan Changhong Electronics Co. Ltd. among others dominating the market space. The dominance of these companies is expected to weaken over the forecast period owing to the entry of numerous Chinese manufacturers in this market.
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