Outdoor TV Sales will Decline before Rebounding to Post a Strong Recovery Future Market Insights Report
DUBAI, U.A.E, Aug. 5, 2020 /PRNewswire/ -- The global outdoor TV market is slated to expand at a CAGR of 3.2% from 2020 to 2030, according to Future Market Insights.
Growing demand for television viewing in outdoor settings such as gardens, courtyards, hotel lobbies and open-air restaurants is bolstering outdoor TV adoption. In recent years, outdoor dining in restaurants has increased substantially, attributed to hectic lifestyles. These consumers demand visual entertainment while dining, bolstering demand for outdoor TV sets.
Outdoor television sets are equipped to withstand hostile climatic conditions. Additionally, they are endowed with scratch-resistant panels which offer a crisp and lucid picture quality. They are also equipped to filter out unwanted sources of reflection.
Outdoor TVs are also becoming popular in the wake of the rising trend of hosting parties and entertainment programs in home-induced outdoor settings, such as poolside parties or courtyard barbecues.
"The global outdoor TV market will remain on a positive trajectory as consumers constantly demand ultra-high quality sound and motion-picture, prompting manufacturers to introduce technological advancements," says an FMI analyst.
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Key Takeaways from FMI's Outdoor TV Market
- Outdoor TV market shall surpass US$ 500 Mn by 2025
- Commercial outdoor TV sales will record the maximum incline due to high incidence of outdoor entertainment activities
- LED outdoor TV sets will experience immense popularity attributed to its high motion-picture quality
- High demand is being witnessed across North America, followed by Asian countries
Outdoor TV Market Key Trends
- Live streaming of international sporting events is catalyzing outdoor TV market growth due to want for a stimulating ambience
- Demand in residential sector is increasing amid preference for hosting outdoor parties
- Heightened sales is providing nano-technology companies to provide solutions to outdoor TV players, increasing their revenue prospects
- COVID-19 has induced temporary bottlenecks due to a decline in outdoor activities, with demand poised to rebound in the long-run
Outdoor TV Market- Region-wise Analysis