New York, United States , April 05, 2024 (GLOBE NEWSWIRE) -- The Global Outdoor TV Market Size is to Grow from USD 370.1 Million in 2023 to USD 898.2 Million by 2033, at a Compound Annual Growth Rate (CAGR) of 9.27% during the projected period.
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Outdoor TV is defined as televisions that are specifically designed for outdoor usage. Typically, in locations where standard indoor TVs would be subjected to elements such as rain, humidity, dust, and intense temperatures. These TVs are made of weather-resistant and strong components to resist outdoor environments. They also include bright displays for sunshine visibility, anti-glare coatings, closed cabinets to protect against humidity and insects, and, in certain cases, built-in heating or cooling systems to control temperature variation. Furthermore, the inclusion of smart TV capabilities like internet connection and video streaming compatibility has boosted the adaptability and popularity of outdoor televisions. Outdoor televisions are used in companies like bars, hotels, and restaurants to show live sporting events, schedule movie nights, and improve the entire experience for consumers. Their applications include precise marketing, as businesses look for innovative methods to engage a broader audience. However, outdoor TVs may be more costly than indoor TVs, especially those with water-resistant and durable features. This pricing aspect may hamper adoption by budget-conscious consumers. Meanwhile, outdoor TVs cannot be utilized regularly in areas with extreme weather seasons or climates, decreasing their overall value to consumers.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Outdoor TV Market Size, Share, and COVID-19 Impact Analysis, By Screen Size (More Than 70 Inches, 50 Inches To 70 Inches, 30 Inches To 50 Inches, Less Than 30 Inches), By Resolution (720p, 1080p, and 4k), By End-User (Commercial Residential), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The 50 inches to 70 inches segment is expected to grow at the fastest pace in the global outdoor TV market during the forecast period.
Based on screen size, the global outdoor TV market is divided into more than 70 inches, 50 inches to 70 inches, 30 inches to 50 inches, and less than 30 inches. Among these, the 50 inches to 70 inches segment is expected to grow at the fastest pace in the global outdoor TV market during the forecast period. The 50 inches to 70 inches segment achieves an ideal mix between providing ample viewing space and being suitable for a range of outdoor environments, making it an excellent choice for both households and businesses. This screen size range offers the best visual experience for conferences, exhibitions, and outdoor activities, contributing to its expected market dominance.
The 4k segment is expected to grow at the fastest pace in the global outdoor TV market during the forecast period.
Based on the resolution, the global outdoor TV market is divided into 720p, 1080p, and 4k. Among these, the 4k segment is expected to grow at the fastest pace in the global outdoor TV market during the forecast period. Popular sporting events and television services are adopting 4K technology. As the availability of 4K material expands, owning a 4K outdoor TV verifies that people can fully utilize these products, providing a variety of options for consumers' entertainment needs. In addition, even in intense sunlight, a higher-resolution image will be more vivid and exact. If the outside space receives direct sunshine, acquiring a 4K outdoor TV can dramatically improve the viewing experience.
The commercial segment is expected to grow at the fastest pace in the global outdoor TV market during the forecast period.
Based on the end-users, the global outdoor TV market is divided into commercial and residential. Among these, the commercial segment is expected to grow at the fastest pace in the global outdoor TV market during the forecast period. The commercial outdoor TV segment is likely to dominate the market, suggesting an increasing demand for outside watching options in workplaces. This trend is especially evident in hospitality facilities, restaurants, bars, and event venues, where outside televisions boost the overall consumer experience.
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Asia Pacific is expected to hold the largest share of the global outdoor TV market over the forecast period.
Asia Pacific is expected to hold the largest share of the global outdoor TV market over the forecast period. Rapid urbanization, a growing middle class, and more popularity for outdoor entertainment innovations all promote to the region's expansion. As people's lifestyles change, there is a growing demand for sophisticated outdoor entertainment alternatives in both the residential and commercial sectors. Furthermore, economic growth and increased disposable income encourage additional expenditures in outdoor leisure and fun facilities. Manufacturers will focus on meeting the diverse demands and climatic conditions in the Asia Pacific region, which will further drive market growth. With a dynamic mix of technological innovations and altering consumer habits, Asia Pacific is likely to be the key focus for the outdoor TV market, promoting its industry leadership.
North America is predicted to grow at the fastest pace in the global outdoor TV market during the projected timeframe. The number of outdoor events is increasing, as is the use of novel technology goods, propelling regional market values higher. The United States is the world's richest market. The country also extends its pop culture influence abroad.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global outdoor TV market include SkyVue, Luxurite, Peerless-AV, SunBriteTV, AquaLite TV, Seura, MirageVision, Cinios, Platinum, Oolaa, The TV Shield, Dish, Samsung Electronics Co., Ltd., Shenzhen WTV Technology, and Others.
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Recent Developments
- In August 2023, Samsung Electronics America, Inc. has introduced the 85" Class Terrace Full Sun, the company's latest addition to its television portfolio. The largest Samsung outdoor TV to date, this new model provides outdoor-optimized picture quality, with a Neo QLED 4K display that remains bright even on the brightest days thanks to Direct-Sun Protection1, and a new IP56 certification for durability.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Outdoor TV Market based on the below-mentioned segments:
Global Outdoor TV Market, By Screen Size
- More than 70 inches
- 50 inches to 70 inches
- 30 inches to 50 inches
- Less than 30 inches
Global Outdoor TV Market, By Resolution
- 720p
- 1080p
- 4k
Global Outdoor TV Market, By End-User
- Commercial
- Residential
Global Outdoor TV Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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