The outdoor TV market, sparked by the growing concept of outdoor entertainment in backyards and patios of homes in developed and developing countries, is projected to expand at a CAGR of 9.4% from 2021 to 2031, based on a recent study from Transparency Market Research.
The trend of outdoor musical concerts, outdoor live stage shows, and outdoor religious congregations that are supported by hi-tech digital equipment is showing growth. 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, according to the report.
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.
Outdoor TVs are also available with HDR, 4K, QLED, Wi-Fi, and Bluetooth features to attract indoor TV consumers.
Economic growth and increasing disposable incomes have led to spending on home entertainment mediums 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 outdoors, 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 purchased home entertainment products due to shut down of other means of entertainment outside of their homes.
Reference: DigitalSignageToday
