NEW YORK – Ultra HD 4K TV unit shipments are on pace for close to 150 percent growth in 2015, according to Futuresource Consulting.
According to the research firm’s “Worldwide TV Market Report,” 4K TV shipments are expected to grow by 147 percent in 2015, despite an overall 2 percent decline in TV sales.
Global TV sales rose in 2014 by 3 percent to reach 235 million units, with trade value of about $94 billion.
The TV market landscape remains varied across the globe, with some regions, such as Latin America, experiencing significant growth, spurred by the Brazilian World Cup and the start of analoge switch-offs in the region, which are set to continue beyond the forecast period.
Europe also enjoyed 3 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 3 percent to $91 billion. This decline in sales value is due mainly to a continued depressed market in China as well Russia’s ongoing 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. 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.