Global Curved Television Market to Reach US$8.4 Billion by 2019

The global curved television market, which was worth US$0.14 billion in 2013, is set to accelerate to reach an overall value of US$8.4 billion by the end of 2019. This implies a CAGR of 96.7% from 2013 to 2019. Making this possible are several advantages that the global curved television market offers, including advanced 3D rendering capabilities, better viewing angles, the use of light emitting diodes (LEDs) and organic light emitting diodes (OLEDs), and the advent of the ultra-high definition (UHD) resolution of images. But beyond any of the above, the biggest selling point of most units in the global curved television market is their low power consumption on OLED screens.

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Global Curved Television Market Restricted By Pricings

One of the key reasons for the cautiousness of consumers in the global curved television market is the extremely high pricing of the current models available commercially, the reason for this being that curved TVs are currently in an accelerated stage of development and the competition has not increased yet. Experts say that in time, healthy competition and cheaper raw materials will create enough of price cuts for the average consumer to buy. Combined with the rising number of individuals and families with a high disposable income, the global curved television market is poised to hold a prominent position. Pricing will no longer be a restrictive aspect and the consumer will find appeal in the advantages that a curved TV offers.

Mid-size Curved TVs Lead the Way

The global curved television market is roughly divided in three types according to screen size:

Large-sized screen are of 78 inches, 85 inches, or 105 inches

Mid-sized screens are from 55 inches to 65 inches

Small-sized screens are the ones smaller than 55 inches

The average consumer has shown huge interest in mid-sized curved TVs, which dominate the market according to size. The demand is currently only hampered by price. For example, Samsung priced its 55-inch curved LED TV in July 2013 at US$15,000. The price was later reduced to US$9,000 in August 2013. The price cut did improve sales to a considerable extent. Most of the average consumer base, however, chose to buy flat TVs with similar specifications.

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Global Curved Television Market Led By Innovators

The key players in the global curved television market include Samsung Electronics, Haier Electronics Group, Sony Corp, and Sichuan Changhong Electronics. Each top company has invested majorly in creating improvements in curved TVs in order to gain a larger share of the market. LG, for instance, had announced its plans to turn a conventional curved LED television into what they call a ‘Wallpaper TV’. Samsung is gaining momentum in improving and developing its OLED screen panels. This creates a healthy competition within the global curved television market, possibly rectifying the market restriction of high prices.

The trend of buying mid-sized curved TVs was constant across North America, which led the global curved television market according to region, followed by Europe. Figures show that the Asia Pacific and the Rest of the World regions are picking up momentum in the global curved television market, the acceleration being attributed to larger disposable incomes and price cuts.

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