4K TV Sales Expected to Grow Almost 40% In 2017
Stephan Jukic – May 22, 2017
4K UHD TV sales have been growing at a nearly explosive pace since the market for this new television display technology really started to take off in early 2014. After much better standardization of content formats and connectivity issues was more or less resolved in mid-2014, consumers started to see a much safer bet in buying the newest models that were coming out at the time.
Now, as 4K resolution becomes dominant among all major new TVs released by each major brand and is further enhanced by the introduction of increasingly common HDR display technology, the market for 4K TVs in 2017 is growing without signs of slowdown.
This is backed up by numbers and educated guesses as well. According to the most recent findings from the research firm Futuresource consulting, sales of 4K ultra HD TVs will expand a further 38% by the end of 2017 and will make up over a third of all TV sales for this year.
According to the research firm, the sales growth of these TVs is essentially a continuation and expansion of some very strong sales trends in 2016, during which 4K TV sales made up more than 25% of all TV sales worldwide despite a continuing scarcity of 4K UHD content sources for all those consumers who were buying these models.
Interestingly, while 4K TVs have experienced superb sales growth in 2016 and so far in 2017, the overall and still much larger market for non-4K televisions has been close to stagnant year over year since 2015. As David Tett, market analyst at Futuresource stated recently,
“The outlook this year is also one of zero growth, with established markets especially challenged. Mature markets remain flat in the face of saturation. In a bid to entice consumers to upgrade their sets sooner rather than they would otherwise, vendors are emphasizing the new features found in the latest sets – 4K UHD, OLED, High Dynamic Range, curved screens and the latest smart TV features and services.”
In other words, the biggest mover in the home entertainment system and TV market has been the innovative new technology of 4K resolution and more recently still, associated features like OLED, high dynamic range and new smart technologies for content access.
Futuresource and other research firms have all noted steadily decreasing prices for new 4K TVs and this is believed to be a major additional factor in their growing popularity despite overall market conditions. In 2016, according to the research firm, average TV prices in general hovered near $550 but will likely rise slightly in 2017 due to the greater market share enjoyed by costlier 4K TV technology and its larger average screen sizes. Despite this, as we ourselves have noted repeatedly on this website, 4K TV prices are dropping steadily for almost all ultra HD television types, with many smaller (40 – 50 inch) mid-range 4K TVs becoming increasingly available at prices of well below $700.
Story by 4k.com