While 8K TVs currently hold a negligible part of the market, adoption is set to skyrocket in the coming years.
According to Strategy Analytics, 8K TV adoption will reach 72 million households by 2025. This is a dramatic increase from the 350,000 sold globally in 2020.
The report estimates that more than 1 million 8K sets will be sold in 2021, followed by around 4 million in 2022.
North America will lead the charge for 8K, with close to 25 million households owning at least one set by 2025. Markets which typically opt for larger screen sizes – such as the US and China – are expected to see the fastest rates of adoption for 8K.
Edouard Bouffenie, senior analyst, Connected Home Devices at Strategy Analytics, said: “8K TV sales did not reach the level that TV vendors may have hoped for in 2020, following a challenging year for the global TV displays market. Major 8K content showcase events such as the Olympic Games were delayed as a result of the global pandemic, removing a key opportunity for TV manufacturers to boost their 8K TV marketing messages. Meanwhile, prices for 8K TVs are still very high, making many consumers think twice about whether now is the right time to upgrade, or hold off until prices inevitably fall over the next few years.”
David Watkins, Director, Connected Home Devices at the analyst said that long-term adoption will be driven by panel supply, and when TV panel manufacturers see financial sense in shifting production towards 8K.
He said: “This transition will start with the very large screen sizes over 70-inches before trickling down into the 60 to 69-inch and even into some sub 60-inch sizes. By the end of the forecast period anyone looking to buy an ultra-large screen TV will have an increasingly hard time finding one that is not 8K.”
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