MUMBAI: 4K TV shipments are expected to grow by 147 per cent in 2015, despite overall two per cent fall in TV sales, as per the worldwide TV market report from Futuresource Consulting.
Global TV sales rose in 2014 by three per cent to reach 235 million units, with trade value up to $94 billion. The TV market landscape remains varied across the globe, with some regions, such as Latin America, experiencing significant growth, caused by the Brazilian World Cup and the start of analogue switch-offs in the region, which are set to continue beyond the forecast period.
Europe, too, enjoyed three per cent growth. APAC, however, saw declines during 2014 but remained the largest region for TV demand, accounting for 37 per cent 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 per cent 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.
However, according to Futuresource, the decline won't last, with larger screens and 4K models being adopted faster than previously forecast. Whilst 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. In the coming years Futuresource believes that replacement demand will increase with sets bought at the start of flat panel boom being upgraded. Also, the shift in consumer preference to larger screen sizes will help the performance of 4K sets," said Futuresource Consulting senior market analyst Jack Wetherill.
