BOSTON, Aug. 21, 2014 /PRNewswire/ -- The first wave of replacement sales in flat panel TV will help to inject renewed growth into global TV sales over the coming five years. Approximately 23% of global flat panel TV sales in 2013 were bought as a replacement for an existing flat panel display and this share is expected to grow to 67% by 2018 helping to drive overall TV shipment growth of 3.8% CAGR over the same period according to the Strategy Analytics Connected Home Devices (CHD) service report, "Global TV Replacement and Ownership 2008-2018."
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Other key findings from the report include:
- The number of global TV households will grow from 1.49 billion to 1.60 billion or 85% of total global households by 2018.
- The global average number of active TVs per TV household peaked in 2013 at 1.72 and will fall to 1.66 by 2018. The USA has the highest level of multiple TV ownership in the world with an average of over 2.6 TVs per TV household.
- The global installed base of flat panel TVs will overtake that of CRT displays in 2014.
David Watkins, Service Director, Connected Home Devices commented: "We are now witnessing the first major wave of Flat Panel TV replacement particularly in developed markets such as Western Europe and North America. Early adopters of the technology are seeking out upgrades to their aging sets driven by a desire for a larger screen, high quality pictures and new, thinner set designs".
Eric Smith, Analyst, Connected Home Devices said: "Moving forwards the TV industry will become less reliant on consumers purchasing additional sets for their homes as alternative TV viewing devices such as tablets will increasingly impact on demand for small screen TVs that would be destined for use in a bedroom or kitchen. Replacement demand for the main living room TV set will become the major driver of TV sales over the next 5 years".
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Strategy Analytics, Inc. provides the competitive edge with advisory services, consulting and actionable market intelligence for emerging technology, mobile and wireless, digital consumer and automotive electronics companies. With offices in North America, Europe and Asia, Strategy Analytics delivers insights for enterprise success. www.StrategyAnalytics.com
European Contact: David Watkins, firstname.lastname@example.org, +33 5 33 05 00 53
US Contact: Eric Smith, email@example.com, +1 617 614 0752
SOURCE Strategy Analytics