What They Say
Futuresource Consulting said that the global TV market is expected to be 1.2% up in 2020 at more than 233 million units, worth $83.7 billion, down just 1%. The key factor has been the lockdowns in Western countries. North America will see 15% unit growth. In Western Europe, there has been upgrading and the purchase of more, smaller sets. Russia also saw ‘dramatic’ growth. Outside those regions, things are less positive with Asia Pacific declining along with India, which has been the worst.
Nearly 75% of sets this year will be Smart TVs and 4K will be nearly two thirds of the market with a forecast that this will grow to 76% by 2024. Overall the market will grow by 0.5% CAGR to 2024.
What We Think
Nothing really surprising in this data, but we thought we’d report it as it may be useful! Historically, we have not found Futuresource detailed data to be as supported by evidence as we would have liked, but at this level, I’m sure the data is reasonably reliable. An exception has been in the white board/interactive education display market, where the company had good depth and analysts. (BR)
