2020-24 The Annual Compound Growth Rate Of The Global HDMI Cable Market Is About 3%

Source: Cable Network

[Cable Network News] Technavio, an international market research organization, recently released a report saying that as the market’s demand for high-definition TV screens continues to grow, it is expected that during 2020-2024, the global market for high-definition multimedia interface cables (HDMI cables) is expected to grow more than 800 million US dollars.

With the increasing popularity of smart TVs and lower costs, the market’s demand for 4K/UHD TVs continues to grow, resulting in the global HDMI cable market growing at a compound growth rate of 3% during the forecast period. Compared with the traditional RCA cable project, the HDMI cable has a stronger ability to transmit video signals, and can provide high audio and video quality, providing customers with a better viewing experience.

From the perspective of transmission rate, HDMI cables are divided into standard, high-speed and ultra-high-speed versions. If the application requires 50-60 frames per second, you cannot use a standard HDMI cable. In order to bridge the gap, a high-speed HDMI cable was introduced. During the forecast period, the reason for the increasing popularity of high-speed HDMI cables is the increased demand in the entertainment industry, which is constantly innovating to improve the visibility of the screen. Due to its ability to support greater bandwidth than before, the market soon adopted high-speed HDMI cable technology. Compared with ultra-high-speed HDMI cables, the high-speed HDMI cable market will grow rapidly due to its advantages and lower prices.

In particular, during the forecast period, the demand for HDMI 2.1 cables will continue to grow because it provides a faster refresh rate, better audio at a data rate of 48 Gbps, and 8K resolution at 60 frames per second. The video and 4K video is provided at 120 frames per second. The increasing popularity of HDMI 2.1 is one of the key trends in the HDMI cable market, which will have a positive impact on market growth during the forecast period.

In 2019, the Asia-Pacific region is the world's largest HDMI cable regional market. It is expected that during the forecast period, the Asia-Pacific region will continue to maintain its dominant position, and 70% of the global market growth will come from the Asia-Pacific region. In particular, the HDMI cable market in India, China, Japan, South Korea, and Thailand has developed faster than other countries/regions in the region.

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