COVID-19 Pandemic Slows Flat-Panel TV Shipments by 3%; Drives 4 Million Surge in Streaming Media Adapter Shipments

Oyster Bay, New York - 22 Jul 2020

 

Uncertain 2020 economic conditions caused by COVID-19 is negatively affecting the global flat-panel TV market. Despite the excitement around 8K TV sets, the overall flat-panel TV market experienced a sharp decline in first quarter of 2020. Global tech market tech advisory firm, ABI Research, forecasts that 222 million flat-panel TVs will ship in 2020, a 3% decrease from 2019.

Stay-at-home orders and subsequent economic upheaval have laid a serious blow to global economic activities, leading to less consumer spending on non-essential consumer electronic equipment. It is also causing a slowdown in households upgrading to premium TV sets. Major TV manufactures have reported nearly 18% YoY decline in flat-panel TV unit shipments in the first quarter, and despite the government’s efforts to reopen the economies, the downturn is expected to hurt flat-panel TV market through the end of the year. “These conditions are likely to accelerate a decline in the sales price, too.  TV makers will also need to focus on optimizing sales channels and structures based on new market demands,” notes Khin Sandi Lynn, industry analyst at ABI Research.

While the flat panel TV market is experiencing challenges, COVID-19 has had the opposite impact on the streaming media device market.  Video streaming services became more popular during lockdown due to their low-cost compared to pay-TV. This increase in streaming services caused a surge in streaming media adapter shipments of more than 4 million units vs. 2019 shipments. Key vendors such as Roku and Fire TV reported a significant increase in sales volumes during the first quarter of 2020. To capitalize on the opportunity in the market, TiVo launched a 4K Stream 4K device in May 2020.

Although COVID-19 is contributing to the sharp rise in streaming services and the streaming device market, the increase in video streaming demand is likely to continue beyond the pandemic. “The launch of new services along with bolstered broadband connectivity across different regions will accelerate the adoption of video streaming services and devices. This phenomenon is expected to contribute to the declining use of physical media devices such as the Blu-Ray media player,” comments Lynn.  

Despite the headwinds caused by COVID-19 in 2020, the global flat-panel TV market is expected to rebound from 2021 as businesses continue to reopen. The market is projected to grow at CAGR 4.3% to reach 275 million units in 2025.

These findings are from ABI Research’s Media Devices: Ultra HD, 4K, HDR, 8K, HEVC market data report. This report is part of the company’s Video and Cloud research service, which includes research, data, and ABI Insights. Market Data spreadsheets are composed of deep data, market share analysis, and highly segmented, service-specific forecasts to provide detailed insight where opportunities lie.

About ABI Research

ABI Research provides strategic guidance to visionaries, delivering actionable intelligence on the transformative technologies that are dramatically reshaping industries, economies, and workforces across the world. ABI Research's global team of analysts publish groundbreaking studies often years ahead of other technology advisory firms, empowering our clients to stay ahead of their markets and their competitors.

ABI Research提供开创性的研究和战略指导,帮助客户了解日新月异的技术。 自1990年以来,我们已与全球数百个领先的技术品牌,尖端公司,具有远见的政府机构以及创新的贸易团体建立了合作关系。 我们帮助客户创造真实的业务成果。

For more information about ABI Research's services, contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific or visit www.abiresearch.com.

Contact ABI Research

Media: Interview an Analyst

Media Contacts

Americas: +1.516.624.2542
Europe: +44.(0).203.326.0142
Asia: +65 6950.5670