TV market 2023: expected contraction in turnover

According to the market research and analysis firm Omdia, the turnover of the TV market should contract again in 2023 after a difficult year in 2022 (see our news TV Market 2022, from decline to decline ). However, the OLED TV segment should progress in view of an increased demand for premium televisions.

Global TV sales could reach approximately $97.1 billion in revenue in 2023, down 5.2% from the $102.4 billion in revenue generated last year.

The fall in the price of LCD TVs explains the drop in turnover on the world TV market

As a reminder, the turnover of the global TV market exceeded, for the first time, the 100 billion dollar mark in 2018 to peak at 117.9 billion dollars in 2021. If the forecasts of the Omdia firm are true, the The global TV market would fall below the $100 billion mark for the first time in five years.

The cause of such a situation? The plummeting prices of LCD TVs are cited as the main cause. Thus, the average unit price of LCD televisions should decrease by around 7.5% to $429 dollars in 2023, against $464 in 2022. And it's not over, Omdia predicts that this average LCD TV price could drop by up to ' to $367 in 2027. But lower prices aren't the only culprit, the alleged decline in TV sales (without further details at the time of this writing) is also in sharp relief.

Average price and Oled TV market share on the rise for 2023?

On the other hand, the average unit price of Oled televisions should increase, from $1,704 last year to $1,752 in 2023 and generate a 5.7% growth in sales for their market segment, estimated at $11.7 billion. In terms of sales, given the overall downturn in the TV market on the one hand, and the growing popularity of OLED televisions on the other, the market share of OLED models would increase from 10.8% the year to 12.1% in 2023. The global OLED TV market continues to be dominated by LG Electronics Inc. which accounts for nearly 60% of sales. But Samsung competition will intensify this year with the marketing of six QD Oled references, against two last year. Similarly, a third diagonal is on the menu, 77'' (196 cm), in addition to the 55''/65'' (140 cm/165 cm).