The video equipment effectively market consists of sales of video equipment and connected services that are utilized in several applications such as residential and commercial purposes. The Video equipment involve televisions, video cameras, Blue-ray players, and video cassette recorders.
The requirement for Ultra HD
televisions is increasing speedily, as they are energy efficient and offer high
quality images. The Ultra HD televisions involve 4K and 8K UHDs that have an
aspect ratio of 16:9 or broader, and also exist a minimum resolution of
3840x2160 pixels. The transition from traditional CRT and LCD TVs to ultra HD
TVs has been fast due to brisk pace in technological improvements. For
instance, ultra HD (4K resolution) TV shipments increased from 1.5 million
units during 2013 to 68.2 million units in 2017 with a CAGR of 160%, thus,
demonstrating high requirement for ultra HD 4k and 8k televisions.
According to the report analysis, ‘Video Equipment Global Market Report 2020’ states that in the video equipment global market there are several corporates which presently functioning more effectively for leading the highest market growth and dominating the handsome value of market share around the globe during the upcoming years while delivering the better consumer satisfaction, decreasing the linked prices, advancing the applications of such, enhancing the applications of such, developing the specifications of the production technologies, implementing the profitable strategies, analyzing and studying the strategies and policies of the competitors and employing the young work force includes Bose Corporation, LG Electronics Inc., Panasonic Corporation, Sony Corporation, Samsung Electronics, Bowers & Wilkins, Atlantic Technology, Definitive Technology, Golden Ear Technology, and Pioneer.
The worldwide video equipment
market was worth USD 120.47 billion during 2019. It is expected to increase at
a compound annual growth rate (CAGR) of 1.53% and reach USD 127.99 billion by
2023.
During February 2018, Got Matter
Pvt Ltd, a Bangalore based IT and E-Commerce company, obtained Ridaex
Technologies for an undisclosed amount. The acquisition will reinforce the Got Matter
Pvt Ltd.'s position as an agile and ground breaking company. Also, allows the
company to develop sales and augment expertise in consumer services and improve
its business intelligence. Ridaex Technologies made its name by manufacturing
first Indian Led Smart TVs.
The increase in disposable incomes
was a foremost driver for the video equipment market. The augment in disposable
incomes was majorly driven by economic growth and middle class populace growth
in underdeveloped countries such as China, India and Brazil. According to the
World Bank, the world's middle class populace-defined as the population that
are earn between USD 10 and USD 100 per day-augmented from nearly 1.5 to 2
billion between 2010 and 2015. During 2017, China's economy increased at 6.9%
and India's GDP augmented at 7.1%. The per capita disposable income in India
grown at a CAGR of 9.2% throughout 2005-2015 to reach USD 1,154 in 2015.
Augmented earnings greatly grown disposable incomes in the emerging markets,
growing the requirement for consumer electronics products such as televisions
and home theater systems. Therefore, in the near years, it is predicted that
the market of Video equipment will increase around the globe more effectively
over the upcoming years.
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Ankur Gupta, Head Marketing &
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