The growing concept of outdoor entertainment in backyards and patios of homes in both developed and developing countries is a key factor fuelling the growth of the outdoor TV market. The design and technological framework of outdoor TVs is such to withstand exterior conditions in terms of bright light, temperature variations, rain, and snow, thus enabling audio-video content to be viewed in outdoor settings.
The selection of outdoor TVs in a few sizes to serve the rising middle-class population in emerging economies that are now investing in extended entertainment medium in their homes is favorable for the growth of the outdoor TV market. The special designs of outdoor TV to render great picture quality in outdoor environments impart an immersive entertainment experience for the users.
The outdoor TV market is projected to expand at a CAGR of 9.4% during the forecast period from 2021 to 2031.
Growing Popularity of Outdoor Entertainment Spectacles Fuels Demand
The trend of outdoor musical concerts, outdoor live stage shows, and outdoor religious congregations that are supported by hi-tech digital equipment is pacing by the day. Large events such as music festivals, religious and spiritual gatherings, and sports spectacles are covered live using outdoor TV sets that are placed at various locations of the arena. This is to provide a close experience of the event for spectators who are not seated close to the podium.
The growing concept of installing outdoor TVs in commercial spaces such as open-air restaurants, bars, and swimming pools for outdoor entertainment of guests is another key factor stirring growth in the outdoor TV market.
Role of Technology for Improved Products to Elevate Demand
Design innovations and advancements in technology are playing a key role for improved outdoor TV products. For instance, newer outdoor TV equipment is made of aluminum powder-coated material for tough external environments.
Technology is playing a role to design glass with more safety, including features such as anti-glare and increased contrast. Brands are introducing products with temperature-controlled filtered airflow systems that protect the equipment from unfavorable temperature conditions.
Furthermore, outdoor TVs are now available with HDR, 4K, QLED, Wi-Fi, and Bluetooth features to attract indoor TV consumers. Improvements in anti-glare LED panels, screen recalibrations, and innovative features such as USB ports, Wi-Fi, and compact designs are some other areas keen players in the outdoor TV market are engaged in.
Economic growth and increasing disposable incomes have led to a huge spending on home entertainment medium in emerging economies of the region. Individuals and families tend to invest in hi-tech electronics to install in various parts of their homes, including outdoor spaces. This is creating a demand for outdoor TVs in emerging economies of the region.
The outbreak of COVID-19 and stay-at-home orders created an unknown demand for outdoor TVs among certain economic classes in emerging economies of Asia Pacific. Individuals and families spent hefty sums to buy home entertainment products due to shut down of other means of entertainment outside of their homes. This created a demand for outdoor TV sets.
Growing popularity of outdoor spectacles such as musical concerts and spiritual gatherings that have large TV screens for close view of the podium drives the outdoor TV market
Rising spending on entertainment medium for outdoor spaces of restaurants, swimming pools, and homes stimulates growth in the outdoor TV market
Outdoor TV Market – Key Players
Some of the key players operating in the outdoor TV market are Cinios, Global Outdoor Concepts Inc., LG Electronics, Samsung Electronics Co. Ltd., SkyVue Outdoor Televisions, Evervue USA Inc., Luxurite UK Ltd, Peerless A.V., Inc., Seura Inc., and SunBriteTV LLC.
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