8K TV Market Took Hit From Olympics Delay, Shipped Fewer Than 350K: SA
After a “slower than expected 2020,” shipping fewer than 350,000 units, the global 8K TV market is expected to “begin to build momentum over the next few years,” reported Strategy Analytics Wednesday. “8K TV sales did not reach the level…
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that TV vendors may have hoped for in 2020, following a challenging year for the global TV displays market,” said analyst Edouard Bouffenie, citing postponement of the Olympics due to the pandemic as a lost opportunity for TV marketers. Prices 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,” he said. SA projects some 72 million households will have an 8K set by 2025. Screen sizes will be a key determining factor in consumer uptake, with the U.S. and China having the fastest rates of adoption, said the report. “Long term 8K TV adoption will ultimately be driven by panel supply and the ongoing shift to ever larger screen sizes,” said analyst David Watkins. TV panel makers will likely switch production lines over to 8K “as soon as it makes financial sense to do so." The transition will begin with over-70-inch models, followed by the 60- to 69-inch range and 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,” Watkins said.