Strategy Analytics’ research is predicting that 222 million homes will own an Ultra HD TV by the end of 2018, an increase of nearly 50% over the past twelve months.
Furthermore, and showing exactly how strong the growth is, the analyst also forecasts that more than 600 million homes will own an Ultra HD TV by 2023 with the vast majority of these homes having a 4K display.
The largest market in terms of annual sales of Ultra HD TVs is the Asia Pacific region, where they will reach nearly 46 million units this year. Despite this rapid adoption across Asia, the study shows that North America will continue to lead in the adoption of Ultra HD TVs with 71% of homes set to own one by 2023.
Only days after the first compatible service launched in Japan, Strategy Analytics forecast that only 3% of Ultra HD TVs in use will be 8K-ready by the end of the year. Sales of 8K Ultra HDTVs are projected to reach more than 400,000 units in 2019 and more than 11 million by 2023, which will represent a 6% share of the total Ultra HD TV market, By 2023, 3.9% of Ultra HDTV homes in North America will own 8K displays, compared to 4.1% in Asia Pacific and 1.7% in Western Europe.
“The success of Ultra HDTV has been driven by technology adoption rather than content and services,” says David Mercer, principal analyst and the 4K and 8K Ultra HDTV Global Market Forecast report author. “4K video and TV services are now becoming more widely available, meeting the expectations of 4K Ultra HDTV owners for the best quality TV experience. But our expectations for 8K services should be cautious: while Japan has now launched 8K TV in preparation for the 2020 Tokyo Olympics, the rest of the world will be slower to follow suit, given that the number of homes with 8K-ready TVs will remain low until the mid-2020s.”
Strategy Analytics director David Watkins added: “Owners of 8K TVs will primarily be watching 4K and HD content, while the TV’s image processors will do a good job of scaling most content to give impressive images. Amidst the excitement surrounding 8K TVs, it is important to remember that image resolution, whether native or otherwise, is only one element in perceived video quality, and TV vendors and content players alike should not lose focus on other important drivers of consumer satisfaction, such as high dynamic range (HDR) and high frame rate (HFR).”