Global TV sales rose in 2014 by 3% to reach 235 million units, with trade value up to $94 billion. The TV market landscape remains varied across the globe, with some regions, such as Latin America, experiencing significant growth, while others, such as APAC, saw declines during 2014. APAC remained the largest region for TV demand, accounting for 37% of shipments. With saturation in many countries within the region relatively low, Futuresource expects growth to return in the coming years.
The research house anticipates that trade value globally in 2015 will fall by 3% to $91 billion, mainly because of a continued depressed market in China as well Russia's economic issues. Economic uncertainty continues to affect many markets in Europe, contributing to expected declines in many countries across the continent.
However, the decline is not expected to 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 video market helping their performance. Meanwhile, smart TV continues to grow its share of the market, although not at the pace previously anticipated.
"Although we expect to see a decrease in worldwide shipments in 2015, Futuresource expects the TV market to recover well in the longer term," wrote Jack Wetherill, senior market analyst at Futuresource. "In the coming years, Futuresource believes ... replacement demand will increase with sets bought at the start of the flat panel boom being upgraded. Also, the shift in consumer preference to larger screen sizes will help the performance of 4K sets."