Fueled by a nearly 13% surge in OLED TV sales and the increasing popularity of extra-large screens, the global TV market grew by nearly 6% in the fourth quarter of 2024, according to new data from Omdia.
The research suggests that integrators should focus on selling advanced, mid-sized OLED TVs and marketing their image quality while leaning into the consumer demand for large, immersive screens.
According to the technology market research firm, OLED TV shipments in the quarter reached 2 million units, marking the highest quarterly sales since the same quarter in 2022. Compared to the fourth quarter of 2023, OLEDS TVs saw a 12.6% growth.
North America, the largest market for OLED TVs, saw 19% growth, illustrating that the OLED TV market is much more mature in the U.S. and Canada and suggesting that integrators should continue to market and sell OLED TVs in their projects. Western Europe was second in OLED TV growth a 18.4%.
While OLED TVs from manufacturers such as Samsung and LG are growing due to their advanced image quality and the beginnings of more competitive pricing for those models, large LCD TVs are also a growing category, which CE Pro has covered extensively. These TVs, commonly marketed as QLED, are essentially LCD TVs with mini-LED backlights and quantum dots.
Lightapalooza took place in late February, and the growth of the event has mirrored the rapid ascension lighting fixtures and controls.
LCD sets as a whole only grew at a rate of 5.6% compared to the last quarter in 2023, but it’s becoming increasingly about the size of the TV and not the actual image technology or quality, according to Omdia.
According to Omdia’s fourth quarter research, U.S. unit shipments of TVs at least 80 inches increased by 24.5% year over year, making it the fastest growing size segment in the region.
“The TV sets market is increasingly a battle between ultimate picture quality and immersive screen size,” said Omdia’s Practice Leader for TV set research, Patrick Horner, in a statement. “In North America, consumers can choose between a 65” OLED TV set or a 98”/100” LCD TV at a similar average selling price. OLED technology is being aggressively marketed by industry leader, Samsung, while Chinese brands are driving competitive pricing in the extra-large LCD segment.”
For example, Chinese brands such as TCL and Hisense have been aggressively marketing large “premium” QLED TVs, among other display technologies.
According to Omdia, 85-inch TVs have become a mainstream size in North America over the last two years. Now, Omdia says retailers are beginning to stock even larger TVs of at least 98 inches.
The research firm backs up those claims with a recent consumer study that found that 57% of respondents are either interested or very interested in a 98-inch LCD TV. Research further suggested that consumers aren’t very bothered by physical logistics or aesthetics of extra-large TVs. Rather, price is the only real obstacle.
Omdia says the average price of 98-inch and 100-inch LCD TVs in the U.S. was around $1,500, and that price continues to fall.
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