4K market to hit 100m units by 2018

LG's 4K Ultra HD TV series with quantum dot technology

LG’s 4K Ultra HD TV series with quantum dot technology

Demand for 4K TVs will hit 100 million units by 2018, according to Futuresource Consulting. According to the research group, demand for 4K sets will achieve a 72% compound annual growth rate between now and 2018.

Futuresource expects 11.6 million 4K units to be shipped this year, up 700% year-on-year, with demand led by China.

The research group expects 4K will account for 10% of demand in western Europe this year. 4K adoption is expected to ramp up from 2015 and represent 38% of the total market by 2018.

Futuresource predicts that demand for TVs overall this year will hit 234 million units, up 3% on last year. However the value of the trade this year will fall by 4% to US$97 billion (€79 million) thanks to a decline in the average retail price of units from US$652 to US$608.

Smart TVs are ex0ected to account for over half of sales this year for the first time, rising to 82% by 2018.

Growth in demand this year is led by Latin America at 17%, with the Asia Pacific growing at 4% and North America flat.

“The anticipated boost from the World Cup in the first half of the year has been followed by a better than expected Q3. Europe is forecast to exceed 57 million units in 2014, with western Europe enjoying 2% year-on-year growth, while eastern Europe remains flat,” said Jack Wetherill, senior market analyst at Futuresource Consulting.