Sales of global smart TVs, weakened as the supply of LCD panels has been hit hard by pandemic-related supply issues, should rise by nearly 2% this year, according to Kagan, a media research unit of S&P Global Market Intelligence.
The return of LCD supplies, coupled with increases in residential broadband penetration which Kagan claims has opened the addressable smart TV market, should add to growth.
In a research note, Kagan said global smart TV shipments should rise 1.9% by the end of this year to 153 million units. The researcher forecasts that compound annual growth rates (CAGR) for smart TVs should increase to 2.3% 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,” Kagan said in its report, adding that while supply issues remain for some LCD panel components, the overall supply for TV displays is improving.
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Mike Farrell is senior content producer, finance for Multichannel News/B+C, covering finance, operations and M&A at cable operators and networks across the industry. He joined Multichannel News in September 1998 and has written about major deals and top players in the business ever since. He also writes the On The Money blog, offering deeper dives into a wide variety of topics including, retransmission consent, regional sports networks,and streaming video. In 2015 he won the Jesse H. Neal Award for Best Profile, an in-depth look at the Syfy Network’s Sharknado franchise and its impact on the industry.