The outdoor TV market will increase at a CAGR of 3.2 percent between 2020 and 2030. An predicts lackluster growth throughout the year, despite a southern demand trend in H1 2020.
It is believed that outdoor television is more resilient to unpredictably changing weather and temperatures. It can adjust to shifting lighting conditions with to easy settings for day and night dimming.
Whether watching TV at night or on a sunny day by the pool, these TV panels are made to give brilliant and crisp visual quality while cancelling reflection from any unfavourable light source.
The desire to host gatherings in the backyard and on the patio is driving demand in the housing market. In the upcoming years, FMI anticipates that outdoor televisions will gain popularity as more consumers express a preference for outside recreation over indoor activities.
In its recent report, FMI studies the factors boosting global consumption of outdoor television. It covers various growth drivers and restraints affecting growth of the market. The report is also intended to help market players uncover hidden opportunities.
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It offers in-depth insights into the market. Some of these are:
- Technological advancements are fuelling innovation of altered TV sizes and resolution. These developments have made television technologically more advanced and resistant to erratic weather
- Rising demand for high resolution TV for outdoor entertainment will boost the market
- Increasing production capacity and consistent pressure for price reduction has made outdoor TV less expensive
- Some of the leading TV broadcasters and content producers are investment in ultra-high-definition (UHD) technology in order to offer better content to audience. This will have a positive impact on the overall market
The extraordinary COVID-19 outbreak has shown the market’s weaknesses after an amazing rise over the past few of years. Sales of outdoor TV will drastically decrease because the bulk of consumers are either avoiding social gatherings out of self-imposed isolation or out of fear of catching the virus.
Nonetheless, FMI foresees hope for the market’s recovery as soon as the coronavirus passes. People from eagerly waiting for economic activities to resume and pandemic to pass. Once it happens, they are likely to resume their outdoor activities, paving way for the expansion of the market.
“Rising interest in sports among audience will be a prime growth driver of the outdoor TV market. Consumers often enjoy hosting outdoor parties during sports season to enjoy the event unfold with their friends and families from the comfort of their backyards. This will boost sales in the residential segment. Commercial places will be driven by the same interest as they seek advanced technologies to keep their customers entertained,” said a lead analyst at FMI.
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Who is winning?
Some of the companies profiled in the report are Peerless-AV, SunBriteTV, Platinum, MirageVision, Oolaa, Cinios, SkyVue, AquaLite TV, Luxurite, The TV Shield, Dish, Shenzhen WTV Technology, Cinios, and Seura.
Companies operating in the market are focusing on making their products more advanced and high-performing to lure customers. As a result, FMI observes are higher investment in research and development among the market players.
Because the outdoor TV market is fairly competitive due to the presence of several behemoths, market players give special attention to their promotional activities. In the near future, investment towards market campaigns will surge. Besides this, companies are likely to focus on creating attractive offers to attract customers. The winning imperative identified by FMI for key market actors, is ensuring brand loyalty of consumers. The report discusses several other interesting statistics.
Outdoor TV Market Key Segment
Product Type
- LCD
- LED
Screen Size
- Less than 40 inches
- 40-50 inches
- 50-60 inches
- 60-70 inches
- 70 inches and above
Screen Type
- Flat
- Curved
End Use
- Commercial
- Residential
Price Range
- Economy
- Mid-Range
- Premium
Sales Channel
- Wholesalers/ Distributors
- Hypermarkets/ Supermarkets
- Specialty Stores
- Multi-brand Stores
- Independent Small Stores
- Convenience Stores
- Online Retailers
- Other Sales Channels
Region
- North America
- Europe
- Middle East and Africa
- East Asia
- South Asia
- Oceania
- Latin America
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About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
Report: https://www.futuremarketinsights.com/reports/outdoor-tv-market
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