Increasing urbanization, technological advancements, and growing demand for over-the-top platforms among consumers are expected to drive the growth of the United Kingdom television market.
According to TechSci Research report, “United Kingdom Television Market –Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2017-2027”With increasing demand from the television industry, the United Kingdom television market will reach USD7450.04 million by 2027F with a CAGR of 7.90% during the forecast period. Due to multi-connectivity features, including cable, satellite, and internet connectivity, television sales are expected to increase across the country during the forecast period. The rising popularity of over-the-top platforms and their internet connectivity features are shaping the television market in a whole new way.
During COVID-19 the market for television in the United Kingdom increased because people were deprived of opportunities to enjoy holidays, cinema, theater, and concerts. People naturally gravitated toward television and services, mainly including over-the-top platforms. Moreover, electricity-saving and wide-screen technologies improve consumer preferences and make them more affordable. Because every industry player is dependent on China for equipment supply, television panels had restricted supply in 2020 due to a supply chain disruption caused by China's complete closure of manufacturing operations.
In terms of display type, the LED market accounted for most of the market share in the United Kingdom television market, followed by OLED, due to its numerous benefits, including better pixels and visibility, energy savings, ease of availability, and integration of cutting-edge technology. In the others segment, QLED is a new technology projected to gain traction in the next few years because of its high energy efficiency and low operating costs.
Browse over 23 market data Figures spread through 70 Pages and an in-depth TOC on "United Kingdom Television Market"
The United Kingdom television market is segmented into England, Scotland, Wales, Northern Ireland, in terms of the regional analysis. The England dominated the United Kingdom television market in 2021, followed by Scotland. Changing consumer preferences toward over-the-top platforms and rising disposable income have fueled the growth of the television market over the years. In 2021, Scotland became the United Kingdom’s second-largest market for television. An increase in television demand in Scotland can be attributed to rising consumer purchasing power, and growing urbanization and technological advancements.
Key market players in the United Kingdom Television market include:
- Samsung Electronics (UK) Ltd.
- LG Electronics U.K. Ltd.
- Sony Europe B.V
- Sharp Consumer Electronics Poland sp. z o.o.
- Toshiba Europe Limited
- Koninklijke Philips N.V.
- Panasonic UK & Ireland
- Hitachi Europe Limited
- TCL Electronics UK Limited
- Jvckenwood U.K. Ltd
Leading players are focusing on expanding their product portfolios to maintain sustainable growth in the market. The companies are also expanding their distribution reach across various cities and are seeing a surge in television distribution demand. For instance, television companies are introducing a new display technology called mini-LED. However, Mini LEDs are identical to those found in LED and QLED televisions. However, they are significantly smaller. Mini-LEDs are about a fifth of the regular LEDs used in LCD panels, measuring around 200 microns, or 0.008 inches across. Because they are tiny, more of them may be crammed onto a single screen. They provide a lot more control over the illumination, which results in improved image quality. The fact that mini-LED displays have the same level of contrast and brightness as OLED displays makes them particularly appealing. Simultaneously, mini-LED-capable TVs with backlighting can give better brightness and deeper blacks. The mini-LED display technology also reduces the chances of burn-in issues inside a screen and enhances the capability of displaying HDR content.
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“The United Kingdom television market is expected to expand at a healthy rate during the projected period. Factors such as emerging economies' rapid economic development, demand for smart televisions, the growing over-the-top platform market, cheap financing, and the emergence of new payment options drive the demand for the market," said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“United Kingdom Television Market By Screen Size (40''-49'', 39'' and Below, , 50''-59'', Above 59''), By Display Type ((LED, OLED, Others (LCD, QLED, etc.)), By Sales Channel (Multi Branded Stores, Supermarkets/Hypermarkets, Online, Others (Institutional Sales, Exclusive Stores, etc.)), By Region, By Leading Cities, Competition, Forecast & Opportunities, 2027”, has evaluated the future growth potential of United Kingdom Television Market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities present in the United Kingdom television market.
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