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A08470 | Pages: 328 | Charts: 50 | Tables: 110 |
The global digital TV SoC market was valued at $8.6 billion in 2021 and is projected to reach $28.2 billion by 2031, growing at a CAGR of 12.8% from 2022 to 2031.
A digital TV System on the chip is an advanced microchip equipped with necessary electronic circuits and parts for a digital display solution such as High-Definition Television (HDTV) and Ultra-High-Definition Television (UHDTV) on a single integrated circuit (IC). Further, the next generation 4K and 8K TV SoCs offer premium refresh rates and incorporate a suite of advanced technologies that make media truly stand out. Most of the components of digital television are contained within integrated circuits. This may include tools for handling radio frequency, mixed signals, and digital signals. In addition, they are put together on a single substrate. Furthermore, SoCs use significantly less energy and accept much less space than multi-chip architectures with equivalent capability. The majority of intricately connected computer systems are built to improve performance and save power usage.
The global digital TV SoC market is expected to witness notable growth during the forecast period, owing to the surge in demand for smart and power-efficient electronic devices. Moreover, an increase in disposable income in developing economies majorly drives the digital TV SoC market outlook. Furthermore, integration with advanced technologies is projected to shape the future of manufacturing industries by standardizing the processes.
However, the high initial cost of design & development, and maintenance is one of the prime factors that restrain the digital TV SoC market growth. Further, the rise in demand for compact and scalable ICs in the global electronic industry is projected to provide a lucrative opportunity to expand the digital TV SoC market during the forecast period.
The digital TV social market is segmented into Application, End User, and Region.
By application, the digital TV SoC market is segmented into LED, LCD, OLED, and QLED. In 2021, the OLED segment dominated the digital TV SoC market share in terms of revenue and is expected to follow the same trend during the forecast period. However, the other segment is expected to emerge as the fastest-growing segment of the market during the forecast period 2022-2031.
[APPLICATIONGRAPH]
By end user, the digital TV SoC market size is classified into residential and commercial. The residential segment dominated the market in 2021 in terms of revenue and is expected to dominate the market during the forecast period. Region-wise, the digital TV SoC market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, and the Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa). Asia-Pacific, Specifically China, remains a significant participant in the digital TV SoC market. Major organizations and government institutions in the Asia-Pacific region have significantly put resources into action to develop enhanced digital TV solutions driving the growth of the digital TV SoC industry in the Asia-Pacific.
[ENDUSERGRAPH]
Competitive analysis and profiles of the major global digital TV SoC market players that have been provided in the report include Intel Corporation, Samsung Electronics Co. Ltd., Qualcomm Incorporated, Toshiba Corporation, NXP Semiconductors, Broadcom Inc., STMicroelectronics N.V., Apple Inc., MediaTek Inc., and Taiwan Semiconductor Manufacturing Co. Ltd.
Country-wise, the U.S. acquired a prime share in the digital TV SoC market in the North American region and is expected to grow at a high CAGR of XX% during the forecast period of 2022-2031. The U.S. holds a dominant position in the digital TV SoC market, owing to the presence of prime players such as Apple Inc. and Intel Corporation has significant investments in next-generation 8K (UHDTV) solutions to develop next-generation digital display devices.
[REGIONGRAPH]
In Europe, the UK dominated the digital TV SoC market in terms of revenue in 2021 and is expected to follow the same trend during the forecast period. Furthermore, Germany is expected to emerge as the fastest-growing country in Europe's digital TV SoC with a CAGR of XX%, owing to a significant development in the Internet of Things and consumer electronics solutions.
In Asia-Pacific, China holds a dominant market share in the Asia-Pacific region and is expected to follow the same trend during the forecast period, owing to a significant rise in investment by prime players in the next-generation system-on-chip solutions to boost the digital TV SoC market. However, South Korea is expected to emerge as a dominant country in the digital TV SoC market in the Asia-Pacific region.
In LAMEA, Latin America garnered a significant digital TV SoC market share in 2021 owing to the presence of prime vendors such as Intel Corporation, STMicroelectronics, Renesas Electronics, and others are significantly investing in smart TV SoC in Latin America. Moreover, the Middle East region is expected to grow at a high CAGR of XX% from 2022 to 2031.
Significant factors that impact the growth of the global digital TV SoC industry include the surge in demand for smart and power-efficient electronic devices paired with the surge in disposable income in developing economies. Moreover, integration with advanced technologies is expected to drive the digital TV SoC market opportunity. However, the high initial cost of design & development, and maintenance is acting as a prime barrier to early adoption, which hampers the growth of the market. On the contrary, the rise in demand for compact and scalable ICs is expected to offer potential growth opportunities for the digital TV SoC market during the forecast period.
The digital TV SoC market forecast is highly competitive, owing to the strong presence of existing vendors. Vendors of digital TV SoC machines with extensive technical and financial resources are expected to gain a competitive advantage over their competitors because they can cater to market demands. The competitive environment in this market is expected to increase as technological innovations, product extensions, and different strategies adopted by key vendors increase.
Mediatek Inc, Samsung Electronics Co. Ltd., Qualcomm Incorporation, Toshiba Corporation, and Taiwan Semiconductor Manufacturing Company Ltd., are the top 5 companies holding a prime share in the digital TV SoC market. Top market players have adopted various strategies, such as product launches, partnerships, acquisitions, product upgrades, and product development, to expand their foothold in the digital TV SoC market opportunity
Key Market Segments
Key Market Players