Consumers are buying ever larger TVs and this trend will continue
(photo: CC0 Public Domain)
For the first time in May this year, the average size of LCD TVs sold in the global market exceeded 50 inches, according to a survey by analyst company Omdia, which aggregates data collected by leading players in the LCD panel industry such as BOE, ChinaStar, CHOT, LG Display and Sharp.
The trend towards an increase in the average size of TV displays is irreversible and is a positive signal for LCD panel suppliers, as it will help the employment of their production facilities, Omdia commented.
Last year was not easy for the TV panel market and the manufacturers in this industry. Every month the demand for displays got worse. As panel prices bottomed out in the third quarter of 2022, suppliers shifted their focus to larger sizes – 55, 65, 75 and 85 inches.”
Demand for large-screen TVs started to recover in the last quarter and continued to improve in 2023, Omdia’s analysis shows.
In August 2022, the average size of LCD displays shipped to the market was 46.8 inches, according to data from panel suppliers. By December, this size has grown to 49 inches, and in March 2023, to 49.5 inches. In May, the 50-inch milestone was passed for the first time – the average size of TV panels reached 50.2 inches.
According to analysts, the increase in the size of the TV screen is indicative of the demand for better visual characteristics and picture quality. Wide-format TV technologies such as mini-LED backlight, quantum dots and ultra-thin screen frames provide an enhanced visual experience with high contrast and brightness, as well as a rich color gamut.
Omdia predicts that as a result of TV size scaling, consumers will upgrade more frequently and the replacement cycle will be reduced from the current 6-7 years to 4-5 years. According to experts, the trend towards large LCD TVs is irreversible, as consumers will not want to go back to more compact models.
TrendForce analysts earlier forecast that global TV shipments will grow in 2023. In the April-June period, TV makers shipped about 46.63 million units, improving by 7.5% from the 43.37 million in the first quarter.
In the third quarter, TV shipments are expected to grow 13.5% from the second quarter to 53 million units. The last quarter of the year will bring another 4.5% growth – deliveries will amount to 55.13 million units. In total, more than 198 million TVs will go on the market for the year.