8K TVs are set to become a more popular product of choice during 2021, according to a new report by Deloitte.
Deloitte estimates revenues from 8k panels will surge during next year, bolstering global sales to a total of $4.4 billion (AUD).
That number is also slated to reach the $5 billion mark by 2022, a huge increase from previous years after 2019 saw $2.3 billion in 8k sales.
With a surge in demand there will also be an increase in supply of 8k TVs, meaning the product price may drop to OLED levels in 2021.
Deloitte estimates the average selling price of 8k TVS will drop from around $4500 in 2020 to $3500 in 2021.
The average RRP of an 8k was over $8000 in 2017.
“By the end of 2021, we expect that entry-level 8K TV sets will be offered for US$1,500 or less, with an ASP of US$3,300,” the report reads.
There will also be a positive knock-on effect for 8k products, Deloitte reports.
“In addition, sales of equipment (such as cameras, monitors, storage, and computers) related to the creation and production of 8K content should generate hundreds of millions of dollars globally for the year,” Deloitte says.
