Global Curved TV Market By Technology (UHD, HD), By Product Type (Up to 43 inches, 48-55 inches, 65 inches, Greater than 65 inches), By End User (Residential, Commercial, and Other End Users), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2023-2032

Report Overview

In 2023, the Global Curved TV Market was valued at USD 9,967.4 Million and it is projected to expand to USD 37,612 Million by 2032; rising at a Compound Annual Growth Rate (CAGR) of 15.9% during this period.

Curved TVs are the latest in TV technology, and they have quickly become very popular in the market. The global Curved TV market is expected to grow steadily during the forecast period due to enhanced features such as better and increased picture quality, high contrast, less glare and ultra-high definition (UHD). In addition, curved TVs also offer an enhanced viewing experience with features such as automatic depth enhancement and uniform viewing distance with 3D and 4D compatibility.

Note: Actual numbers might vary in the final report

The curved TV is a type of television with a curved screen that creates an even field of vision. It provides depth and breadth simultaneously by providing greater immersion in watching and bringing the edges of the screen closer to the peripheral vision with more depth and a wider field of view. It not only improves the experience of watching TV by making it more cinematic but also is similarly good for the eyes as there is no need to move them as much. In addition, a curved TV is not just for aesthetic purposes but to enhance the experience of watching TV.

Key Takeaways

• In 2022, the Curved TV Market was valued at USD 8,600.0 Million.
• The market is estimated to reach USD 37,612.6 Million in 2032, with a CAGR of 15.9 % between 2023 and 2032.
• Technological advancements, such as developing new technologies, such as OLED and QLED, are major growth drivers.
• Large-screen curved TVs with high contrast and Ultra-High Definition (UHD) are gaining popularity.
• The high cost of curved TVs is the restraining factor.
• UHD Curved TVs are expected to grow at the highest rate (5%) among technologies.
• The 65-inch Curved TVs account for the majority of revenue in the product type segment (48.5%).
• Residential are the primary end-users and the dominant segment (52.0% of the major share).
• Growth in the entertainment industry and demand for large display TV screens offer growth opportunities.
• The shift in customers’ preferences drives the curved TV’s market growth.
• North America leads the market (40.5% revenue share), followed by Asia Pacific.
• Key players include Haier Smart Home Co. Ltd., Hisense International Co. Ltd., Koninklijke Philips NV, LG Electronics Inc., and others.

Technology Analysis

UHD Curved TVs Accounted for The Largest Market Share

The market is segmented into UHD and HD curved TVs based on technology.  Among these, UHD curved TVs held the majority of revenue share. In 2022, UHD curved TVs accounted for the market share of 50.5% among other product types. Curved TVs with ultra-high-definition (UHD) resolution and improved picture quality are increasingly favored by consumers. These curved UHD televisions boast contemporary features, such as UHD resolution and enhanced image clarity. Essentially, UHD curved TVs deliver better resolution and more striking visuals when contrasted with their HD curved counterparts. Regarding the viewing experience, curved UHD TVs offer an immersive immersion, especially when utilized by a single viewer.

Additionally, the screen’s curvature gives the benefits of a wider field of vision, which can be advantageous if someone is sitting close to the screen. Furthermore, they provide several advantages over the equivalent or flat TVs related to off-angle viewing and their design assures and takes care that every point on the display is equally away from the viewer’s eyes for an enhanced and better viewing experience. The curved design of a UHD TV screen helps distribute light evenly. Curved UHD TVs drove over 50% of overall UHD TV sales in most regions including Europe and North America. This suggests that UHD curved TVs are gaining more attraction.

Product Type Analysis

The 65-inches Curved TVs Segment Dominate the Market

Based on the product type, the market is segmented into up to 43 inches, 48-55 inches, 65 inches, and over 65 inches. Among these product types, the 65-inch curved TVs accounted for the majority of the market share. In 2022, the 65-inch curved TVs held 48.5% of the global supply. Owing to the Large screen size and better viewing experience 65-inch curved TVs are mostly preferred. The rising popularity of large-display curved TVs is boosting the market.

Additionally, the 65-inch curved TVs are the most popular type in the market. The size and curvature are perfectly suitable for homes such as family rooms, living rooms, or even small home theaters where it can be easy to lose sight of viewing angles when seated on a large couch. The choice between the size of the TVs comes down to personal preference, but the 65-inch curved TVs offer a larger screen size, which can provide a more immersive viewing experience, and the picture quality gets enhanced and ultimately, it is easier to appreciate on a larger screen size, such as 65 inches.

Curved-screen TVs are the latest technology and are quickly gaining popularity among consumers. The 55-inch curved TV is a large screen slightly curved on all four sides to create a realistic viewing experience for users through an expanded field of view. Curvature also helps increase contrast so pictures can look better than ever. Additionally, curved TVs fit perfectly into any modern room and look aesthetically pleasing.

Note: Actual numbers might vary in the final report

End-user Analysis

Based on End-user, the market is further divided into residential, commercial, and other end users. Among these applications, the residential segment accounted for the largest market share of 52.0% in 2022. Curved TVs are perfect for home entertainment and can be used in any environment where a big screen is needed, like living rooms, family rooms, or bedrooms. They’re also great for small spaces as the curve helps make it feel larger than its actual size. They create an immersive experience for viewers by creating a larger field of vision and offering improved contrast so pictures look better than ever.

They fit perfectly into any modern room and are aesthetically pleasing to the eye. In addition, they provide an immersive viewing experience, especially if you are the only viewer watching the TV. The screen’s curve gives you the benefits of a wider field of vision, which can be advantageous if someone sits close to the screen. Some people wish to choose their assets differently and the curved TV suits those. Furthermore, they have a unique design that can add a touch of elegance to a room. They have more advanced technology that improves the image quality and highly curved screens that can provide a more realistic watching experience.

Drivers

The shift in customers’ preferences is expected to drive the market’s growth.

The market is experiencing growth due to changing customer preferences for enhanced features and superior display and picture quality. This shift is primarily driven by the demand for advanced technologies in the broadcast media sector and evolving consumer expectations regarding picture clarity, sound volume, and overall television performance. Technological advancements like OLED and QLED have notably enhanced the picture quality of curved TVs, making them more appealing to consumers who prioritize top-notch visuals. With rising disposable incomes, consumers are increasingly inclined to invest in high-end electronic gadgets, including curved TVs. Additionally, factors such as the longer lifespan of curved TVs, environmentally friendly technology, and energy efficiency are contributing to the growth of this market.

Restraints

High costs are expected to limit the growth of the market. 

The high cost of curved TVs is expected to limit their acquisition by low-income people. Therefore, due to its high price, the product has a limited target customer base. Only shopping malls, commercial trade centers, and high-income people can afford curved-screen TVs. The high R&D cost of curved TVs is another major factor hindering product demand. This is expected to set back the growth of the curved-screen TV market. However, the high cost of curved screen TVs poses a major barrier to developing the global market.

Furthermore, increasing R&D spending by major companies in alternative TV technologies such as OLED (Organic LED) TVs, coupled with growing customer expectations for curved TVs, is expected to limit and restrain the growth of the curved TV market.

Opportunity

Growth in the entertainment industry and demand for large display TV screens

The strong growth in the entertainment industry is expected to provide significant growth opportunities during the forecast period. The growth of the entertainment industry is expected to drive the growth of the curved-screen TV market. As well as, Strong marketing strategies to promote curved TVs, along with the launch of affordable curved TVs, are expected to bring new opportunities to the market soon.

Furthermore, the demand for large-display curved TVs is increasing due to their immersive viewing experience, which is expected to boost market growth. This demand for curved TVs presents market opportunities for manufacturers to invest in technological advancements and offer large-display curved TVs to enhance consumers’ viewing experience. Major market players are focusing on technological advancements to enhance the viewing experience of curved TVs, which is expected to drive the market’s growth.

Trends

Increased TV Sales through E-Commerce Channels and The Growing Popularity of Large Display TV Screens

Increasing sales of the TVs through online channels is a growing trend in the market. Hence, the growth in online sales is expected to drive the market’s growth during the projection period.  In addition, the influence of digital and social media marketing strategies on consumers increases sales of curved TVs. The growth in smart cities, coupled with the increasing number of TV retail stores, is projected to drive market growth.

Furthermore, the growing popularity of online gaming and the subsequent rise in flexible display manufacturing are major trends fueling the global market outlook during the forecast period. Changing customer preferences towards large-display curved TVs, image quality, size, and superior features of TVs is an emerging trend in the curved screen TV market. Curved TVs offer advanced features such as 3D compatibility, reduction in reflection, UHD resolution, automatic depth enhancement, and high contrast. They also provide a more balanced and uniform view than their flat counterparts.

Geopolitical and Recession Analysis – 2023

Changes in Trade Policies and Tariffs, as well as Economic Sanctions, Political Instability, and Regional Conflicts

Geopolitics can impact the global market in several ways, such as changes in trade policies and tariffs affecting the global supply chain of curved TVs, which can impact the market growth and pricing. After that, several factors such as economic sanctions, political instability, and regional conflicts imposed in a country, can affect the market growth in that country, as well as the export of curved TVs from that country. Furthermore, Geopolitical factors can influence consumer preferences, impacting the demand for curved TVs in certain regions.

The recession decreased consumer spending on non-essential items, including curved TVs, which decreased demand for curved TVs. Consumers may become more price-sensitive during a recession, which could lead to increased competition among curved TV manufacturers to offer lower-priced options. Further, they may delay upgrading their TVs during a recession, which could decrease demand for curved TVs. A recession could lead to a contraction in the overall TV market, which could also impact this market.

Key Market Segments

By Technology

• UHD
• HD

By Product Type

• Up to 43 inches
• 48-55 inches
• 65 inches
• Greater than 65 inches

By End User

• Residential
• Commercial
• Other

Regional Analysis

North America Holds Region Accounted Significant Share of the Global Curved TV Market

North America accounted for the largest market share of 40.5% in 2022. There are various reasons behind the North American region as a significant consumer of curved TVs. North America dominates the curved TV market for many reasons. The main and important reason behind that is increasing economic growth and the development or adoption of various types of high-level technologies in the countries in that particular region, as well as high consumer purchasing power and availability of the latest technologies at very budget and affordable prices.

In addition, the growing adoption of curved TVs by the general population and the growing demand for customized solutions for TV screens is driving market growth across regions. Asia Pacific accounts for the second largest market share and is estimated to grow significantly during the forecast period due to the growing retail sector in countries such as China and India and improved living standards.

The Asia-Pacific region, particularly countries such as China, India, and Japan, has been experiencing rapid economic growth. Furthermore, high disposable income and quickly changing consumer preferences in developing economies such as Japan and India are expected to drive the growth of the curved TV market in the Asia-Pacific region.

Note: Actual numbers might vary in the final report

Key Regions and Countries Covered in this Report

• North America
  • The US
  • Canada
• Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Russia
  • Netherlands
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia
  • New Zealand
  • Thailand
  • Singapore
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of MEA

Key Players Analysis

Several Strategies, such as Focus on R&D and Bringing New Innovative Products to the Market

The curved TV market is highly competitive and fragmented, with several key players worldwide. The major players in this market are planning and implementing several strategies through partnerships, mergers and acquisitions, investments in product portfolio expansion, etc. Additionally, market participants focus on R&D and several strategies such as product innovation, launching new products with several technological advancements, etc. to meet the growing demand for products. Companies are also launching new products with several technological advancements to cater to new wants or needs in the market.

The new key players face intense competition from major players in the market, especially those with strong brand awareness and extensive distribution networks. Companies have developed many expansion strategies, partnerships, and new research technologies. This allows them to anticipate customer demands or trends and to stay competitive and ahead in the market. This is likely to boost market growth during the projection period.

The following are some of the major players in the industry

• Changhong Jiahua Holdings Ltd.
• Haier Smart Home Co. Ltd.
• Hisense International Co. Ltd.
• Koninklijke Philips NV
• LG Electronics Inc.
• Panasonic Corp.
• Samsung Electronics Co. Ltd.
• Sharp Corp.
• Sony Corp.
• TCL Electronics Holdings Ltd.
• CloudWalker Streaming Technologies Pvt. Ltd.
• Hisense International Co. Ltd.
• Loewe Technology GmbH
• Nimble Holdings Co. Ltd.
• Sceptre Inc.
• Skyworth Group Ltd.
• Stanlee India Enterprises Pvt. Ltd.
• Vu Television
• Xiaomi Communications Co. Ltd. and
• Other Key Players

Recent Development

• In January 2022: Samsung Electronics disclosed its new Neo QLED, MICRO LED, and Lifestyle TVs ahead of the 2022 Consumer Electronics Show. With several advancements in sound and picture quality, customizable accessories, more screen size options, and an enhanced interface, the display brings visuals closer to reality with realistic visuals, immersive sound, and a hyper-personalized experience.
• In January 2021: LG announced at the remote CES show that its new 48-inch flexible display can be used as a 1000R curved display for gaming or general viewing as a flat display, designed to provide a uniform display.

Report Scope