This Year TV Market Falls Below $100 Billion... OLED Shows Growth Trend

Analysis by Market Research Firm Omdia on the 28th
Causes of LCD TV Price Decline
OLED TV Expected to Grow by 5.7%

It is forecasted that the global TV market size will fall below 100 billion dollars this year for the first time in five years since 2018.

Market research firm Omdia announced on the 28th that the global TV market size is expected to be approximately 97.1 billion dollars this year. This represents a 5.2% decrease compared to last year's TV market size of 102.4 billion dollars.

The TV market size first surpassed 100 billion dollars in 2018 and peaked at 117.9 billion dollars in 2021, but it is expected to shrink below 100 billion dollars again after five years.

LG OLED Evo.
[Photo by LG Electronics]

The decline in the TV market is attributed to the falling unit price of LCD (liquid crystal display) TVs. The shipment volume of LCD TVs this year is projected to grow by 1.1% year-on-year to about 199 million units.

The issue lies in the average unit price. Omdia forecasts that the average price of LCD TVs will drop by about 7.5% from 464 dollars last year to 429 dollars this year. In particular, the downward trend in LCD TV prices is expected to continue, reaching 367 dollars by 2027.

On the other hand, the average unit price of OLED (organic light-emitting diode) TVs is expected to rise from 1,704 dollars last year to 1,752 dollars this year. Accordingly, the OLED TV market size is also expected to grow by 5.7% compared to last year (11.1 billion dollars), exceeding 11.7 billion dollars.

The average unit price of OLED TVs compared to LCD TVs expanded from 3.7 times last year to 4.1 times this year. As the overall TV market shrinks while the OLED TV market expands, the market share of OLED TVs by sales revenue is expected to increase from 10.8% last year to 12.1% this year. In particular, the shipment share in the premium TV market priced above 1,500 dollars is expected to rise from 36.5% last year to 43.7% this year.