Worldwide TV shipments saw their strongest growth rate of the decade (value up by 6 per cent) at the end of 2018, according to Futuresource Consulting.
The report also indicated that 8K shipments will grow by 130 per cent CAGR over the next five years.
“All this action is the result of a number of factors, applying pressure and influencing the landscape,” said Matthew Rubin, senior market analyst at Futuresource Consulting. “Price reductions for premium technologies like 4K have started to open up the mass market; meanwhile, major investment in South East Asian production has not only helped the local market, but also driven down large screen pricing across the globe. And despite some localised macro-economic problems, which have caused significant shipment fluctuations for several countries, the world view is positive.”
The study also noted that despite a weak performance from Western Europe (shipments fell slightly in 2018), Europe as a whole returned to growth thanks to a 6 per cent increase in Eastern Europe.
Meanwhile 4K UHD TV shipments will command more than half the market in 2019, with the global installed base of 4K UHD TVs expected to exceed 960 million by the end of 2023 (over 42 per cent market penetration).
“Although it faces a range of challenges, 8K is standing on the threshold of growth,” added Rubin. “Sets are being showcased by most brands and will grow from just 0.1 per cent of global shipments in 2019 to exceed 2 per cent by 2023. China will be the biggest driver of growth in 2019, accounting for nearly one third of shipments, as disposable income continues to climb. However, we expect a lack of content will persist over the coming years, curtailing consumer demand.”