Futuresource TV Market
Date Published:
Current market trends
The global TV market continued to decline in 2022 after a 2.4% fall in 2021, which was mostly driven by component shortages. In 2022 the decline was predominantly attributed to the global economic slowdown, geopolitical tensions and the rise in the cost of living. All these factors have come together to create a consumer reluctance to upgrade TVs.
TV markets are expected to experience a variety of situations in both developed and developing countries in 2023. Futuresource anticipates developed markets such as North America and Europe to exhibit significant declines, whereas developing markets such as Asia Pacific, Latin America and the Middle East will continue to perform better in comparison.
Looking to the brands, Samsung continues its dominance, with its focus shifting towards the premium TV segment. The company is expected to further boost its market share in revenue terms, but will experience a marginal decline in sales volume share, due to stiff competition in the low- and mid-tier TV segments.
LG has consolidated its position in the market through its continuous product mix improvement and a strong premium TV portfolio of OLED, QNED and large-size TVs. LG is also improving the cloud gaming experience by continuously adding apps such as Utomik and Blacknut on top of its existing Google Stadia and GeForce Now offerings.
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