Technavio, a tech-focused research firm, has published a new report on the global ultra HD TV market, which is expected to grow at a CAGR of 45% from 2015-2019.
The report draws attention towards the increasing popularity of 4K TVs, which is presenting growth opportunities for broadcast and media organizations worldwide.
“Netflix offers 4K ultra HD movie services to its consumers, and Amazon also provides 4K streaming for its series’ like Alpha House and Transparent,” says Faisal Ghaus, Vice President of Technavio.
“As consumer awareness of 4K ultra HD content increases, we expect to see many large market players increasing their investment in the technology, which will ultimately contribute to market growth.”
The new Technavio report also emphasizes increasing strategic alliances between market players, which are expected to continue in the future.
“Currently, ultra HD TV manufacturers worldwide are collaborating with content providers to expand their business and improve their market share. Vendors in the market are looking to acquisitions to broaden their portfolio of offerings and solidify their position in the market,” says Ghaus.