The decreasing product prices and the digital transformation of the broadcasting sector are among the primary factors impelling the growth of the LED TV market across Saudi Arabia.
According to TechSci Research report, “Saudi Arabia LED TV Market By Region, Competition Forecast & Opportunities, 2027”, the Saudi Arabia LED TV market is expected to witness steady growth in 2023-2027. LED TV represent an internet-connected television with a wide range of online features, such as on-demand content from numerous apps, access to streaming services including Netflix, and the ability to connect with numerous other wireless devices, including smartphones and tablets. Along with this, being able to passively accept cable or satellite or air (OTA) transmission, smart televisions have several forms of hardware and interfaces, coupled with the GUI TV operating system. Such changes allow viewers to access and monitor connected device features and stream content from internet video services.
The growing popularity of video-on-demand service is one of the crucial factors driving the growth of the LED TV market. Video on Demand (VoD) is one of the innovative features that Internet Protocol TV (IPTV) offers. VoD also provide consumers a range of available videos to choose from. The video is transmitted via the Real-Time Streaming Protocol. At present times, VOD has gained tremendous popularity, this has resulted in higher rate of LED TV adoption rates. Besides this, the emerging trend of video-on-demand service is anticipated to cater to the growth of the LED TV market.
However, the shifting preferences among consumers towards the portable electronic devices is estimated to witness the obstacle for the growth of the LED TV market in the forecast period, 2023-2027.
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Saudi Arabia LED TV market is segmented into, type, screen size, distribution channel, regional distribution, and competitive landscape.
Based on type, the market is divided into HD, FHD and UHD. UHD segment is projected to account for the largest share in the market during the forecast period, 2023-2027. The drop in the prices of these 4K UHD TVs is positively influencing customers and triggering demand across emerging economies. The increase can be associated with innovative and advanced features, including high resolution and high picture quality, with Dolby Digital sound that provides a theater experience on larger screen sizes. The adoption of innovative technologies, such as quantum dot LEDs (QLEDs), across the ultra-high definition (UHD) in 4K TVs, is expected to fuel the segment’s demand during the forecast period.
Based on screen size, the market is segmented into below 30”, 30”-39”, 40”-47”, 50”-57” and Above 57”. Below 40”-47” screen size segment is expected to drive the market growth during the forecast period.
Most of the customers recommend 4K UHD display technology for larger TV sets. The expanding purchasing power of consumers has further escalated the demand for LED TVs in the market. Moreover, the rise in consumer income and price trends for UHD televisions are also expected to boost growth in the below 40”-47” inch screen size segment during the forecast period.
Based on distribution channel, the market is divided into Multi Branded Stores, Supermarkets/Hypermarkets, Online and Others (Exclusive Stores, Institutional Sales, etc.). Online segment is expected to witness the significant growth in the forecast period, 2023-2027. The high availability of LED TV on the online platforms elevates the purchasing power of consumers which accelerates the growth of this segment.
Leading market players operating in the Saudi Arabia LED TV market are:
- Samsung Electronics
- LG Electronics Gulf FZE (“LGE”)
- Panasonic Marketing Middle East & Africa FZE
- SONY MIDDLE EAST AND AFRICA FZE
- TCL Saudi Arabia
- Hisense Middle East
- Sharp Middle East
- Xiaomi Saudi Arabia
- Toshiba Gulf FZE
- Philips Saudi Arabia
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“The elevating levels of urbanization, inflating disposable income levels and the easy availability of high-speed internet, are propelling the consumers to spend more on online video streaming channels, including YouTube Premium, Netflix, Hulu, Vimeo and Amazon Prime Video. This, in turn, is primarily driving the market growth. In addition to this, LED TVs can wirelessly connect to input devices, including keyboards, mouses, smartphones and tablets, for improving usability and allowing text entry, navigation and internet browsing, which escalates the demand for LED TV across Saudi Arabia. Moreover, numerous key smartphone manufacturers, including Xiaomi, Micromax and OnePlus, are taking a notable interest in LED TVs which stimulates them to focus on entering the smart TV market, which has been dominated by electronics giants such as Sony and Samsung for several years. Additionally, the growing adoption of 4K resolution TV sets, along with the continuous technological advancements in the industry are expected to fuel the market growth across Saudi Arabia till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm”.
“Saudi Arabia LED TV Market By Type (HD, FHD and UHD), By Screen Size (Below 30”, 30”-39”, 40”-47”, 50”-57” and Above 57”), By Distribution Channel (Multi Branded Stores, Supermarkets/Hypermarkets, Online and Others (Exclusive Stores, Institutional Sales, etc.), By Region, Competition Forecast & Opportunities, 2027 has analyzed the future growth potential of Saudi Arabia LED TV market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and assist decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with significant drivers, challenges, and opportunities in Saudi Arabia LED TV market.