Global TV Market To Reach $86 Billion By 2017
According to data out of Futuresource Consulting, 2016 is set to turnaround last year’s decline in worldwide TV shipments.
“Although we’ve seen the overall global picture stabilize this year, there have still been some major events at a country level with France likely to see 20% growth whilst Mexico and Brazil are both forecast to suffer declines of over 10%,” said Jack Wetherill, senior market analyst at Futuresource Consulting.
“Our research generates market data for 25 different countries and we’re seeing signs that demand in China will grow by at least 5% this year, with the country accounting for one out of every five TV shipments on the planet. India and other countries within Asia Pac are also making a positive impact on the worldwide figures.”
When it came to brands, the data suggests that Samsung and LG will continue to dominate the TV markets in Europe and the US as Chinese players struggle to gain a foothold in these major markets.
Futuresources’ data indicates that while 4K UHD shipments are growing slower than expected, they are still performing quite well at a 75% increase over 2015.
Shipments of 4K UHD TVs in 2016 accounted for 25% of all TVs and Futuresource predict this will rise to 60% by 2020.
OLED TVs are growing somewhat slower. Futuresource say OLED TVs only accounted for 0.5% in total units shipped due to the premium positioning and pricing of the category.
Smart TVs are encountering similar growth despite obstacles in markets where “entrenched alternatives” like Pay TV or slow internet speeds.
Futuresource say that 59% of total TVs shipped in 2016 were smart and that this will rise to 75% by 2020.