Global TV sales rose by three percent in 2014 to reach 235 million units, with trade value up to $94 billion, according to a report by Futuresource Consulting.
The TV market landscape remains varied across the globe, with regions such as Latin America experiencing significant growth, caused by the Brazilian World Cup and the start of analog switch-offs in the region, which are set to continue beyond the forecast period. Europe, too, enjoyed three percent growth. APAC, however, saw declines during 2014 but remained the largest region for TV demand, accounting for 37 percent of shipments. With saturation in many countries within the region relatively low, Futuresource expects growth to return in the coming years.
The report anticipates that trade value globally in 2015 will fall by three percent to $91 billion. This decline in sales value is due mainly to a continued depressed market in China as well Russia’s economic issues. Economic uncertainty continues to affect many markets in Europe, contributing to expected declines in many countries across the continent.
According to Futuresource, the decline won’t last, with larger screens and 4K models being adopted faster than previously forecast. While industry opinion on curved screens remains mixed, strong growth is expected from them in 2015, with the growth in the 4K market helping their performance. Meanwhile, Smart TV continues to grow its share of the market, although not at the pace previously anticipated.
“Although we expect to see a decrease in worldwide shipments in 2015, Futuresource expects the TV market to recover well in the longer term,” said Jack Wetherill, senior market analyst at Futuresource Consulting. “In the coming years, Futuresource believes that replacement demand will increase, with sets bought at the start of the flat-panel boom being upgraded. Also, the shift in consumer preference to larger screen sizes will help the performance of 4K sets.”
The Worldwide TV Market Report provides an updated outlook for the worldwide consumer TV market and reviews key developments in the market up to Q2 2015. The report also provides an outlook to 2019, profiling key regions and countries, and reviewing the major developments in terms of product features and competitive landscape.
For further information or to purchase the report, visit http://www.futuresource-consulting.com/2015-07-Worldwide-TV-7954.html