Saudi Arabia LED TV Market Grow with a CAGR of 14.31% through 2030F
The Saudi Arabia LED TV market is driven by
advancements in display technologies, increasing consumer demand for
high-definition visual experiences, and declining prices.
According to
TechSci Research report, “Saudi Arabia LED TV Market – By Region,
Competition, Forecast & Opportunities, 2030F”, the Saudi Arabia LED TV market stood at USD 110.23 Million
in 2024 and is anticipated to grow USD 245.87 Million by 2030 with a CAGR 14.31%
during forecast period. The Saudi Arabia LED TV market is driven by advancements
in display technology. Innovations like Quantum Dot and Mini LED technologies
have revolutionized viewing experiences by offering superior picture quality,
vibrant colors, and improved contrast. Quantum Dot technology enhances color
accuracy, while Mini LED provides more precise local dimming, leading to deeper
blacks and brighter whites. These advancements have allowed manufacturers to
produce high-performance LED TVs that appeal to consumers seeking cinema-like
experiences at home. As these technologies become more accessible and
affordable, they are increasingly adopted by consumers, boosting demand. Also,
the continuous development of 8K resolution and HDR capabilities further
enhances the attractiveness of modern LED TVs, driving market growth in Saudi
Arabia.
The Saudi Arabia
LED TV market is primarily driven by the growing availability of local content
is a significant driver of the Saudi Arabia LED TV market. As of early 2024,
platforms like Shahid and STC TV, which offer a substantial portion of Saudi
and MENA region-produced content, have gained popularity among consumers. This
shift towards regional content is influencing viewing habits and, consequently,
the demand for LED TVs that can deliver high-quality, immersive experiences.
Consumers are increasingly seeking devices that provide access to these local
platforms, prompting manufacturers to enhance their products' compatibility and
performance to meet this demand. The emphasis on culturally relevant content is
fostering a deeper connection between audiences and their viewing devices,
further propelling the growth of the LED TV market in Saudi Arabia.
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"Saudi Arabia LED TV Market”
The Saudi Arabia
LED TV market is segmented into type, screen size, distribution channel, and
region.
Based on the distribution
channel, the online segment is the fastest growing in the Saudi Arabia LED TV market,
driven by several factors. The rapid expansion of e-commerce platforms has made
it easier for consumers to browse, compare, and purchase LED TVs from the
comfort of their homes. The convenience and accessibility of online shopping,
along with competitive pricing, exclusive promotions, and a wide range of
available models, make it an attractive option. Also, customer reviews and
ratings enhance trust and confidence in online purchases, while home delivery
services add convenience. The growth is further supported by digital payment
methods, influencer marketing, and the ability to integrate LED TVs into smart
home ecosystems, making online retail the preferred choice for many consumers.
Based on the
region, Eastern is the fastest-growing region in the Saudi Arabia LED TV market,
driven by several key factors. As the nation's largest province by area and a
significant contributor to its GDP, the Eastern Province boasts a robust
economy, with a GDP of approximately USD 243.8 billion in 2022. This economic
strength translates into increased consumer purchasing power, fueling demand
for advanced home entertainment systems, including LED TVs. The region's rapid
urbanization, particularly in cities like Dammam and Khobar, has led to the
development of modern residential complexes and commercial establishments,
further boosting the need for high-quality display solutions. Also, the Eastern
Province's strategic location and infrastructure developments have enhanced
accessibility to global brands and e-commerce platforms, facilitating the
availability and adoption of the latest LED TV technologies among consumers.
Major companies
operating in the Saudi Arabia LED TV market are:
- Samsung
Electronics Co., Ltd
- LG Electronics Inc.
- Panasonic Marketing Middle East &
Africa FZE
- Sony Middle East and Africa FZE
- TCL
- Hisense Middle East
- Sharp Corporation
- Xiaomi
- Koninklijke Philips N.V.,
- Havells Group
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“The Saudi
Arabia LED TV market is expected to grow in the future owing to the post-purchase support. Consumers
increasingly value the availability of after-sales services, such as easy
returns, extended warranties, and responsive customer support. This support
enhances the overall purchasing experience, giving buyers confidence in their
investment. Retailers and manufacturers offering reliable and accessible
post-purchase services build trust with customers, leading to higher
satisfaction and brand loyalty. Also, the provision of installation services,
troubleshooting assistance, and repair options further strengthens consumer
confidence. As more consumers seek peace of mind when purchasing high-value
items like LED TVs, the emphasis on post-purchase support is becoming a crucial
factor influencing purchasing decisions and driving market growth, said
Mr. Karan Chechi, Research Director of TechSci Research, a research-based
management consulting firm.
"Saudi Arabia LED TV
Market By Type (High Definition (HD), Full High Definition (FHD), Ultra
High Definition (UHD)), By Screen Size (Below 30”, Below 30”-39”, Below 40”-47”,
Below 50”-57”, Above 57”), By Distribution Channel (Multi Branded Stores, Supermarkets/Hypermarkets,
Online, Others), By Region, Competition, Forecast & Opportunities, 2020-2030F”, has evaluated the future growth potential of Saudi
Arabia LED TV market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in the Saudi Arabia LED TV market.
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