2016 Has Been a Very Good Year for 4K TV Sales
Recent research from the Consumer Technology Association (CTA) has revealed that 4K TV sales are poised for 40% annual growth as the Ultra HD market continues to expand.
CTA data found that shipments of 4K Ultra TVs in the key Q4 selling period are set to reach 4.5 million units, driving the total 4K UHD TV sales for the year to ten million units. The reason for this increased demand is primarily due to the fact that more brands and screen sizes are available at lower prices, in addition to new technologies such as High Dynamic Range (HDR) and wide color gamut which enhance overall picture quality.
The CTA also stated that even as 4K TVs with new technologies such as HDR capability make-up an increasing share of the product mix, the average wholesale price of 4K Ultra HD TVs has fallen 22% since the beginning of the year.
The CTA forecasts 4K UHD displays will account for 56% of all TV sales during Q4 as the category steadily spans to nearly half of total annual TV sales. CTA’s annual research also showed that TVs are among the most desired technology gifts during the coming holiday season this year, behind notebook computers and tied with smartphones.
Despite the healthy growth forecast, the CTA conceded that the total number of units sold will fall short of the 14.5 million units it predicted at the start of the year. It noted that the updated forecast reflects finalized Q2 data showing a more gradual growth curve as TV makers transitioned to new 4K Ultra HD models.
CTA president and CEO Gary Shaprio is enthusiastic about the growth of the 4K market and stated: “Manufacturers are introducing an increasing variety of 4K UHD displays at a range of price points. Many of these displays include new innovations like HDR and WCG that make the viewing experience more immersive. Strong growth in display sales, combined with the increasing number of 4K UHD Blu-ray discs and other content, 4K cameras, and additional devices in the market will cement 2016 as a ’banner year’ for 4K UHD.”
“We expected to see TV manufacturers move more quickly to a greater mix of 4K in screen sizes above 40-inches, which now appears to be shaping up as a 2017 trend,” added Steve Koenig, CTA’s senior director, market research. “Growth of the 4K UHD market continues to dwarf the transition to high-definition television. Just three years since introduction, cumulative sales of 4K UHD displays are forecast to hit 18.6 million units, while sales of HDTVs reached 4.2 million units in their first three years on the market.”
In conclusion… this is all very good news, and points to a very optimistic future for the television industry.