New Delhi [India], August 10 (ANI): The global TV market is expected to show signs of recovery in 2022 and beyond on account of improvements in the supply of large LCD panels -- which was the primary obstacle manufacturers struggled within 2021, according to Kagan, a media research group within global financial services information provider S&P Global Market Intelligence.
The rapid expansion of residential broadband penetration, it said, is opening up the addressable smart TV market and driving smart TV penetration in total.
Meanwhile, global smart TV shipments are estimated to grow 1.9 per cent year over year to 153.0 million units by the end of 2022 with a forecast of a 2.3 per cent compound annual growth rate (CAGR) from 2021 to 2026.
"Despite a weak first quarter for global smart TV shipments, declining panel prices and the coming World Cup in November 2022 are expected to overcome the negative effects of inflation to spark consumer demand by the end of 2022," it said in a note on Wednesday.
However, supply shortages are still an issue for some components used in the assembly of LCD panels -- especially those based on mature process technologies. But the overall supply of TV displays is slowly improving.
The potential of a global recession, along with the continuing macroeconomic stress produced by many factors, including the conflict in Eastern Europe, the note said, could derail the forecast.
This forecast by S&P Global Market Intelligence only covers TV sets used for home entertainment, excluding commercial TV sets used in the hospitality industry as well as those used in public spaces and offices, the note mentioned. (ANI)