The market for 4K UHD TVs is still driven by early adopters, but broader consumer interest is rising substantially and 4K UHD TV sales are reaching a tipping point, according to new market research from The NPD Group.
Interest in 4K UHD TVs is particularly strong among those with smart TVs, men and Millennials, said NPD in its latest “Connected Home Entertainment Report.¨ More than half of those surveyed by NPD (52 percent) said they were aware of 4K UHD products.
Overall, 1/3 of respondents said they were ¨very¨ or ¨somewhat likely¨ to use a 4K UHD TV in the future. Interest in 4K UHD products spiked to 73 percent among those that own an Internet-connected TV. Men and Millennials also expressed much stronger than average interest.
4K UHD TV Sales
4K UHD TV sales showed the first potential sign of reaching a tipping point recently, NPD points out. More than 6 million UHD TVs had been sold globally through April 2016.
Nonetheless, ¨[w]hile sales are spiking and demand is high, 4K UHD TVs remain an early adopter product,” commented John Buffone, executive director, industry analyst, NPD Connected Intelligence. “Our data shows that just eight percent of consumers say they have used a 4K UHD TV. But, all of the trends point towards rapid growth during 2016 and beyond.”
The quantity of 4K UHD content – TV programs, Blu-ray Disc and leading streaming video service providers such as Netflix and Amazon – is rising along with hardware sales. One-third (32%) of those surveyed said they were already aware of of 4K streaming services. That rose to 42 percent among 18- to 34-year-olds, 32 percent of whom also said they were interested in using them.
“Demand for 4K video is only beginning to proliferate,” Buffone added. “Streaming video providers have been leading the market in terms of delivering 4K UHD content, and we expect them to continue to increase their programming array to satisfy growing consumer demand.”
Image courtesy of flickr user John Karakatsanis.