Falling prices and consumer demand for flat screens and HD will fuel a doubling in global shipments of LCD televisions of 2008 by 2012, according to iSuppli.
Worldwide shipments will rise to 193.9 million units by 2012, increasing at a compound annual growth rate (CAGR) of 67 percent from 100.1 million units in 2008, the market research firm said.
Growth is being driven by widespread acceptance in worldwide markets. TV viewers no longer want “bulky, heavy CRT-TVs” with “inferior resolution” but favor space-efficient 1080p sets, said Riddhi Patel, principal analyst for TV systems at iSuppli.
According to Patel, the falling price of LCD TVs is also making it easier for consumers to act on their preference for sleek televisions. To illustrate the point, Patel pointed to the price of a 42in LCD TV. In the first quarter of 2006, that set cost $2000 but now can be purchased for less than $1000. Aggressive marketing by leading brands is also helping to raise awareness among consumers who might otherwise not have known about the technology, Patel said.
Another factor promoting greater consumer acceptance is aggressive promotion of LCD TV technology by the leading brands. This is attracting consumers that may not have been familiar with the technology but now have an interest in 1080p after reading or hearing about it, Patel noted.
Regionally, Europe and North America continue to be the largest markets for LCD TVs. Shipments in those regions will grow at 13 percent and 10 percent CAGRs between 2008 and 2012, respectively. Japanese shipments will remain flat, but sales in China will rise because of the huge uptake in interest spurred by the 2008 Beijing Summer Olympic Games.
For more information, visit www.isuppli.com