Business Management Essay Example | Topics and Well Written Essays - 2000 words

Business Management - Essay Example High Definition television aims to bring viewers closer to the reality when pursuing their favorite shows and the global market for these sets is priced at billions of dollars. However, the next ‘big thing’ in the television market in 3D technology which literally brings the characters on screen into the living rooms of the users. Though existing since the mid 1900s, the 3D technology had always been relegated to the realm of ‘unnecessary fads’. Attempts to popularize the technology were made in the 80s but due to ineffective marketing, devices which did not perform as well as had been hyped and an extremely extravagant pricing well above the price point of the average consumer, the trend of 3D did not catch on. It was not until the release of blockbuster movies like ‘Avatar’, beautifully rendered in eye catching 3D and boasting the best visual effects that technology could create that people finally began to see the value of 3D televisions. As the demand increased, the industry responded by producing different types of 3D devices in large sizes which would be more appealing for families (Display Bank 2010). The boom in 3D televisions has been supported by subsequent networks and shows created for this audience, featuring popular dramas, sports coverage and movies which can be enjoyed in 3D. It is obviously an added expense but one that many people are ready to pay for. The current situation and potential for growth: â€Å"The global market for 3D TVs is projected to exceed 200 million units by 2018, primarily driven by increased  consumer interest, falling prices of 3D TVs, and the introduction of 3D standards† (PRweb, 2012) The growth in the interest in 3d TVs has also been supported in turn by other forms of entertainment media and the changing preferences of the average consumer. People demand perfection from their ‘digital media entertainment’ and want it to be synchronized with their hand held d evices, all the time providing an enriching experience at par with real life. An important growth driver has been the penetration of high-bandwidth broadband services throughout households which can easily connect all their devices and provide access to specialized content on demand, and it has become possible due to successful implementation of fiber-based high-capacity broadband connections which provide greater bandwidth speeds. Devices such as smart TVS, smartphones and tablet PCs are steadily becoming a part of the modern landscape and they provide the boost in consumer interest in having the best possible displays for these. The big names in the industry, Samsung, LG, Sony, and Panasonic entered the 3D format in 2010  after analyzing the huge potential that had been created for a new market. Currently the United States is the largest regional market for shipment by volume of 3D TVs and the Asia Pacific a close second; it is also the fastest growing regional market for the pr oduct with volume from the region waxing at a CAGR of about 122% during the analysis period of a report compiled by Global Industry Analysis in 2012 for the market of 3D TVs (PRweb, 2012). Another study published in Quarterly Large Area TFT LCD Shipment Report showed that for the US in 2011 there was massive increase of 104% in the number of shipments of 3D-capable HDTV displays to meet rising demand for the technology just within the