HDMI Cables Market Size – USD 3.11 Billion in 2021, Market Growth – at a CAGR of 5.3%, Market Trend – Availability of more HDMI enabled devices
NEW YORK, NY, USA, February 24, 2022 /EINPresswire.com/ — Growing demand for HDMI cables for high-definition audio devices and development of high-quality cables are driving the revenue growth of the HDMI cables market
The Global High-Definition Multimedia Interface (HDMI) Cable Market The size is expected to reach USD 5.0 billion in 2030 and register a CAGR of 5.3% over the forecast period, according to the latest report from Reports and Data. Rising demand for 8K high-definition display units and high dynamic range (HDR) televisions is driving the revenue growth of the HDMI cables market.
The increasing use of audio/video devices, growing demand for ultra high definition (UHD) televisions, advances in HDMI cables for higher bandwidth applications, combined with developments in display technology and the growth of the multimedia and entertainment industry in emerging countries are some major factors. drive market revenue growth. Rising disposable income and the construction of new buildings, both commercial and residential, increase the demand for projectors and televisions. Additionally, HDMI cables are expected to see high demand over the forecast period with increasing demand for high definition viewing options.
HDMI 2.0a and HDMI 2.0b are the most commonly used HDMI versions, and these ports are a higher resolution version of HDMI 2.0, which supports high dynamic range (HDR) display technology. The release of HDMI 2.1 is expected to drive the growth of the HDMI cable market, due to its high data transfer rate and increased bandwidth compared to previous versions. HDMI 2.1 has a refresh rate of 60 frames per second and a bandwidth of up to 48 gigabits per second, which allows resolutions up to 10K. HDMI cables are preferred over conventional RCA cables due to their ability to transmit a video signal, a CEC signal, and up to 8 channels of audio signals through a single port.
HDMI sources can send multi-channel audio; however, they cannot transmit multi-channel and two-channel stereo signals at the same time, and users encounter difficulties in multi-room installations because different devices accept different audio formats. HDMI devices work with DVI connections, but they require a separate audio cable because DVI only transmits video signals. Therefore, in such cases, an HDMI-DVI connector is also required. These issues associated with HDMI cables are hampering the revenue growth of the market. However, technological advancements in this area are expected to minimize these limitations in the near future.
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Companies profiled in the global market report include Amphenol Corporation, Panasonic Corporation, Koninklijke Philips NV, Hon Hai Precision Inc. Co., Ltd, Sony Corporation, Hitachi Ltd., Molex LLC, CE-Link, and Kramer Electronics Ltd.
Some highlights of the report
• In February 2022, Redmi India launched Redmi Smart TV X43 in India, a 4K resolution smart TV that runs on PatchWall UI and supports Android TV 10 platform. It also has three HDMI 2.1 connectors .
• The personal computer and tablet segment accounted for a significantly large revenue share in 2021, due to the growing demand for display-heavy PCs that require HDMI cables to produce desired results.
• Revenue from High Speed HDMI Cables segment is expected to register a steady growth rate during the forecast period. High Speed HDMI cables can handle video resolutions of 1080p and beyond, including advanced display technologies, such as 4K at 30Hz, 3D and Deep Color. HDMI cables are used in home theater systems that are integrated with artificial intelligence software, such as Alexa, Google Assistant and others, which provide consumers with built-in intelligence and convenience.
• The North America market accounted for a significantly large revenue share in 2021, owing to various developments and innovations in HDMI cables. This region is eagerly moving from older AV technology, such as RCA (Radio Corporation of America) phono connectors, to high-speed HDMI cables for AV needs, which is one of the major growth factors in North America. North HDMI cable market.
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For this study, Reports and Data has segmented the global HDMI cable market based on type, quality, end-use, and region:
Type Outlook (Revenue, USD Billion; 2019-2030)
• Standard HDMI cable
• High speed HDMI cable
Ratings Outlook (Revenue, USD Billion; 2019-2030)
• HDMI 1.4
End-Use Outlook (Revenue, USD Billion; 2019-2030)
• Game consoles
• Audio players and televisions
• Mobile phones
• Automotive systems
• Personal computers and tablets
Regional Outlook (Revenue, USD Billion; 2019-2030)
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
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Key Benefits of High-Definition Multimedia Interface (HDMI) Cables Report:
• Identification and analysis of market size and competition
• Qualitative and quantitative analysis of market data
• Data validated by industry experts after extensive primary and secondary research
• In-depth regional analysis of the High-Definition Multimedia Interface (HDMI) Cables industry
• Profiling of key players with their company overview, business strategies, agreements and partnerships, and product portfolio
• SWOT analysis and Porter’s five forces for an in-depth understanding of the competitive landscape
• Feasibility analysis and investment analysis to enable strategic investment decisions
• Analysis of opportunities, drivers, constraints, challenges, risks and limitations
In conclusion, all aspects of the High Definition Multimedia Interface (HDMI) Cables Market are quantitatively as well qualitatively assessed to study the Global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market based on market drivers, limitations and its future prospects.