People Adapting to Outdoor Life Trends Mostly Prefer Specialized Equipment for Particular Activities
Outdoor television is a trending concept in most developed countries with people’s improving fashion lifestyles and growing digital trends. Outdoor TVs are specially designed to render great picture quality in any given outdoor setting. It provides the ability to watch television shows in bright sunlight, as the products are built to endure temperature variations and weathers such as in rain and snow. Many people use indoor TVs to enjoy an outdoor setting using a portable projector and screen; however, outdoor TVs can be more reliable, a permanent fixture in the backyard or patio. Presently, there are many types of outdoor TVs available in the market ranging from less than 30 inches to more than 70 inches. Consumers are most likely to use an outdoor TV for general entertainment. The growing outdoor lifestyle trends across the world are fueling the global outdoor TV market during the forecast period.
Almost every outdoor TVs available in the outdoor TV market comes with an anti-reflective coating that can be very essential for a reliable outdoor viewing experience. For backyards with shades, people can choose a TV with lower brightness levels. However, as many electronics do not respond well to high heat, cold temperatures, moisture, rain, and other weather conditions, there is a heavy need for specialized electronics to withstand natural effects. Outdoor televisions are growing in popularity as they offer complete protection even against moisture intrusion and water damage. Some products also offer fan and heater options for extreme weather regions.
Moreover, while some manufacturers of outdoor TVs allow insulation against the cold and provide airflow to lessen humidity, they are unable to hold the same level of cooling and heating within the TV itself that can be provided on the exterior by an enclosure.
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Working Professionals Staying Home Fuel Demand for Outdoor TVs amid COVID-19 Pandemic
The outbreak of the coronavirus disease has had an ample impact on the global outdoor and indoor electronics industry, including the outdoor TV market. The impact has spread across all trades sectors, closing down or delaying manufacturing of television sets in various countries with ensuing negative impacts on revenues and employment. Various implied measures by governments such as social distancing and stay-at-home orders, and regulations for working of manufacturing and businesses trades, have resulted in a slowdown in the global economy. In addition, some studies suggest that around 60% of television programming that includes sports and entertainment has been rescheduled or canceled, owing to stringent regulations. This affected the sales sloping down the demand curve. Furthermore, disrupted supply chain of raw materials and limited workforce have hindered the production of outdoor TVs, limiting them to supply within the available demand.
As the lockdown is being lifted in various nations, manufacturers are shifting their sources from international to local vendors to avoid disruption in the supply chain in case of further disruptions. Furthermore, various brands in these markets are focusing on domestic consumers to increase their revenue amidst the restricted global trade. The outdoor TV market witnessed an increasing the demand during the pandemic, as most people were staying at home and making expenses to make their home more comfortable. However, with limited available resources, the cost of TV sets went up. As the economy is becoming stable in developed countries such as North America and Europe, the prices have started to fall as production is being restored. Many consumers are most likely to the extent of their sampling of new brands and new digital purchasing methods to flatten the demand curve in the post-COVID-19 era.
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Rise in Number of Outdoor Concerts, Events Fuels Demand for Outdoor TVs
As the demand for outdoor TV is increasing with advancements in technology and innovative measures, manufacturers are investing to design outdoor TVs to fulfill consumers’ upcoming needs. The products are being made of aluminum powder-coated material for strength, style, and regular use. Technology is used to design glass with more safety, including features such as anti-glare and increased contrast. Durability and performance are key factors to gain credence of consumers and build long-term relationships. Brands are introducing products with temperature-controlled filtered airflow systems that defend the TV through unfavorable temperature conditions, which is increasing the popularity of the outdoor TV market. Outdoor TVs are now available with 4K, HDR, QLED, Wi-Fi, and Bluetooth features to attract indoor TV consumers. In addition, major players in the segment are upgrading the TV sets with improvements in anti-glare LED panels, recalibrated screens, and integration of innovative features such as Wi-Fi, USB ports, and more compact designs.
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Rising people’s inclination toward spending more family time while enjoying in the backyard and watching their favorite TV show is contributing to the increased demand for the global outdoor TV market during the forecast period. People across the world are increasingly redecorating their terraces, balconies, and pool to enjoy the limited time at home. This is likely to drive consumers toward preferring outdoor TVs. Moreover, the growing popularity of outdoor TVs in music festivals, musical events, convention centers, and all other venues is fueling the demand for outdoor TVs. Rising marketing campaigns in various industries through digital boards are expected to increase the demand for the global outdoor TV market in the upcoming future.
Demand for Outdoor TVs in Asia Pacific to Grow Rapidly
Growing population and developing people lifestyle in Asia Pacific are expanding the regional market at a high growth rate. Consumers in APAC with their rising disposable income are looking to acquire trendy and innovative items, thus driving the outdoor TV market in the region. However, growing awareness for technologically upgraded products and influence toward a high standard of living in North America are likely to dominate the regional segment during the forecast period. With the U.S. and Canada holding major shares of the outdoor TV market, various innovations and developments can be expected from manufacturers to hold a place in the growing competitive market. The global outdoor TV market is expected to reach US$ 900 Mn by 2031, at a CAGR of ~9% during the forecast period.
Outdoor TV Market: Overview
- According to Transparency Market Research’s latest research report on the global outdoor TV market for the historical period of 2017, 2018, and 2019, and the forecast period of 2021–2031, increasing spending on research & development and generating awareness among consumers regarding the product are expected to accelerate the outdoor TV market across the globe
- Outdoor TV is designed to be used in the backyard at any time of day or night, in the sun or the shade. Inside and out, it is engineered and designed to withstand UV radiation, temperature fluctuations, rain, snow, etc. It has a high-brightness backlight that ensures clear viewing even in bright sunshine, and is often 2x-6x brighter than standard indoor TVs. All these factors are expected to increase the demand for outdoor TVs across the world during the forecast period.
- In terms of revenue, the global outdoor TV market is estimated to reach value of US$ 900 Mn by 2031, expanding at a CAGR of ~9% during the forecast period. An outdoor TV finds application as a consumer TV and digital signage, and is expected to be the preferred product for advertisements within the commercial segment. Thus, the demand for outdoor TVs is anticipated to increase across the world.
Outdoor TV Manufacturers Working on Technological Innovation, Developments to Improve Overall Share
- Large share of companies opt for technologically advanced and convenient products. Manufacturers are undertaking upgrades that emphasize on anti-glare LED panels, recalibrated screens, and integration of innovative features such as Wi-Fi, USB ports, and compact designs. This is likely to drive the overall growth of the outdoor TV market.
- Outdoor TVs have self-contained heating and cooling systems to regulate temperature. These TVs can operate at temperature as low as -22 Degree Fahrenheit to as high as 122 degree Fahrenheit. Furthermore, an outdoor television is fully sealed without traditional TV venting so that no water or insects can make their way into the TV to cause damage. All these factors have resulted in an increase in the demand for outdoor TV systems throughout the world, and the market is projected to rise at a significant rate during the forecast period.
- Several commercial businesses such as open air restaurants, swimming pools, bars, broadcasting in stadiums, and music concerts are installing outdoor TVs and digital signage to attract consumers and even consumers prefer such places. This factor is expected to drive the outdoor TV market during the forecast period.
- Preference for outdoor TVs can also be attributed to changes in lifestyle and increasing interest in outdoor entertainment
- However, high installation cost is a hindrance to the market. The antenna needs to be adjusted outdoor and is susceptible to animal attacks, wherein additional cost would be incurred by the end user. High product cost, installation cost, and maintenance cost are expected to restrain the market over the next few years.
- Manufacturers are investing in advertisements to increase awareness about outdoor TVs among consumers through various methods such as web advertisements, digital advertisements, and advertisement of the TV via indoor TVs, which, in turn, is likely to enhance awareness among consumers, thus creating lucrative opportunities for the outdoor TV market
Increasing Demand from Asia Pacific
- The outdoor TV market in Asia Pacific is expected to expand at a fast-paced CAGR, as the region is a manufacturing hub for consumer goods and electronics, and has almost 1.2 billion households
- Growing urban population and middle class population in developing nations of Asia Pacific are expected to enhance the demand for outdoor televisions. Furthermore, consumers seek to acquire trendy and innovative items, owing to their increasing disposable income and improved lifestyle in emerging nations.
- Manufacturers are expanding their product lines to meet the increasing demand for outdoor TVs based on consumer requirements. Moreover, strong product innovation among manufacturers with newer features in outdoor TVs is anticipated to boost the market during the forecast period.
Outdoor TV Market: Competition Landscape
- Detailed profiles of providers of outdoor TVs have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies
- The outdoor TV market is fragmented due to the presence of several players. Competition is expected to intensify in the upcoming years due to the entry of several local players.
- Key players operating in the global outdoor TV market are
- Evervue USA Inc.
- Global Outdoor Concepts, Inc.
- Luxurite UK Ltd.
- LG Electronics
- Peerless A.V., Inc.
- Samsung Electronics Co., Ltd.
- Séura, Inc.
- SkyVue Outdoor Televisions
- SunBriteTV, LLC
- among others
Outdoor TV Market: Key Developments
- Key manufacturers of outdoor TVs such as Cinios, Evervue USA Inc., and SkyVue Outdoor Televisions are focusing on product innovation and development. Companies are concentrating on expanding their geographical reach to stay competitive in the market and to cater to a large customer base. Furthermore, many manufacturers are planning to acquire small-scale companies or work in collaboration with them to have a competitive share in the global market. These are the key strategies followed by outdoor TV companies to increase their market share in terms of revenue.
- In January 2021, Peerless AV formed a partnership with Redington in GCC countries to cater to the Middle East & Africa market. The partnership is estimated to consolidate its position and offer its category of display solutions of outdoor TV to consumers in Saudi Arabia, thereby showcasing its complete range of outdoor TVs and increasing its presence in the market.
- In January 2020, LG Electronics introduced a new line of outdoor LEDs featuring high brightness for outdoor display panels. The LED signage were designed to capture the attention of passersby at various locations.
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