8K TV households to reach 72 million worldwide by 2025Wednesday, April 7th, 2021
Strategy Analytics: 8K TV Owning Households to Reach 72 Million Worldwide by 2025
BOSTON — Global 8K TV household adoption will begin to build momentum over the next few years, reaching 72 million households by 2025. Following a slower than expected 2020 when just under 350 thousand 8K TVs were sold globally, Strategy Analytics’ forecasting models indicate sales of more than 1 million 8K TVs in 2021 and around 4 million in 2022. North America will be the leading region for 8K TVs by 2025 with close to 25 million households owning at least one 8K TV set. Differences in screen size preference will be a key determining factor in the uptake of 8K TVs in each region with the larger screen markets such as the USA and China seeing the fastest rates of adoption.
“8K TV sales did not reach the level that TV vendors may have hoped for in 2020, following a challenging year for the global TV displays market” says Edouard Bouffenie, Senior Analyst, Connected Home Devices. “Major 8K content showcase events such as the Olympic Games were delayed as a result of the global pandemic, removing a key opportunity for TV manufacturers to boost their 8K TV marketing messages. Meanwhile, prices for 8K TVs are still very high, making many consumers think twice about whether now is the right time to upgrade, or hold off until prices inevitably fall over the next few years.”
“Long term 8K TV adoption will ultimately be driven by panel supply and the ongoing shift to ever larger screen sizes.” comments David Watkins, Director, Connected Home Devices. “As we saw with 4K, TV panel manufacturers are likely to switch entire production lines over to 8K as soon as it makes financial sense to do so. This transition will start with the very large screen sizes over 70-inches before trickling down into the 60 to 69-inch and even into some sub 60-inch sizes. By the end of the forecast period anyone looking to buy an ultra-large screen TV will have an increasingly hard time finding one that is not 8K.”
Links: Strategy Analytics