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Televisions - US - August 2016

"New televisions are pushing the boundaries on screen sizes and resolutions, and these attributes do capture consumer interest. However, many brands have struggled to maintain revenue in light of tight competition and market saturation. The maturation of smart televisions will bring new challenges to the market. Namely, televisions will be expected to offer an ever-growing array of digital services."

- Bryant Harland, Senior Technology Analyst

This report will cover the following areas:

  • Majority of consumers own high-definition televisions
  • Lengthy replacement cycles challenge market revenue
  • Competition emerges from online, mobile video

For the purposes of this Report, Mintel has used the following definitions:

Mintel uses the term “television” to describe any device that is used for and marketed as a primary device for consumer television and movies. Devices that can play these media, but are billed as multipurpose devices are not included. For example, a computer (general purpose) is not included, but a smart TV (primary purpose being TV/movie consumption) is.

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Table of contents

  1. Overview

    • What you need to know
      • Definition
      • Executive Summary

        • The issues
          • Majority of consumers own high-definition televisions
            • Figure 1: Television ownership, May 2016
          • Lengthy replacement cycles challenge market revenue
            • Figure 2: Length of time before TV replacement, May 2016
          • Competition emerges from online, mobile video
            • Figure 3: Attitudes toward televisions, by parental status, May 2016
          • The opportunities
            • Bigger screens are in demand
              • Figure 4: Reasons for most recent TV purchase, May 2016
            • Different marketing strategies for different purchasing motivations
              • Figure 5: Reasons for most recent TV purchase, by age, May 2016
            • Connectivity important for 18-34 year olds
              • Figure 6: Attitudes toward televisions, by gender and age, May 2016
            • What it means
            • The Market – What You Need to Know

              • Television market poised for growth
                • Little in the way of 4K content
                  • Broadband a key factor for smart televisions
                  • Market Size and Forecast

                    • A break from market stagnation on the horizon
                      • Figure 7: Total US sales and fan chart forecast of televisions, at current prices, 2011-21
                  • Market Factors

                    • Lack of 4K content remains a challenge for UHD TV sets
                      • One in ten Americans lack sufficient-quality broadband
                      • Key Players – What You Need to Know

                        • Samsung commands largest share of the television market
                          • Market led by LED screens
                            • OLED lagging in direct mail marketing
                            • What’s Working?

                              • Samsung now has largest share of the market
                                • Figure 8: Leading Brands of TV, 2012-2016
                              • LED screens are on the rise
                                • Figure 9: Samsung UHD, curved screen television offer, May 2016
                            • What’s Struggling?

                              • OLED could use a boost from direct mail marketing
                                • Figure 10: Fry’s Electronics OLED 3DTV promotional email, June 2016
                            • What’s Next?

                              • The beginning of UHD
                                • There’s a future for virtual reality in TV
                                • The Consumer – What You Need to Know

                                  • Smart TV and 4K segments show plenty of room for growth
                                    • LED screens surpass LCD
                                      • Larger screens top purchase inspirations
                                        • Support for multiple devices and mobile apps important for 18-34s
                                        • Television Ownership and Purchase Intent

                                          • Televisions – Overview of ownership
                                            • Majority of consumers have HDTVs in their households
                                              • Figure 11: Television ownership, May 2016
                                            • Smart TVs
                                              • Near-term opportunity to design for multiple smart TV buyers
                                                  • Figure 12: Smart TV ownership and purchase intent, by age, May 2016
                                                • Target multiple smart TV purchasers in urban areas
                                                    • Figure 13: Smart TV ownership and purchase intent, by type of living area, May 2016
                                                  • Smart TV ownership considerably higher among Hispanics
                                                    • Figure 14: Smart TV ownership and purchase intent, by Hispanic origin, May 2016
                                                  • Ultra-high definition televisions
                                                    • UHD TV purchase intent higher among younger consumers, higher income households
                                                      • Figure 15: UHD TV ownership and purchase intent, by age and household income, May 2016
                                                    • Brand loyalty important for attracting Black consumers to new technology
                                                      • Figure 16: UHD TV purchase intent, by race, May 2016
                                                    • Types of television by screen type
                                                      • Significant rise in LED ownership since 2012
                                                          • Figure 17: Types of televisions owned (screen types), 2012-2016
                                                      • Lifecycle of Consumers’ Televisions

                                                        • Long TV replacement cycles present challenges for the market
                                                            • Figure 18: Length of time before TV replacement, May 2016
                                                            • Figure 19: Dell television set promotion example – email, June 2016
                                                          • Older consumers show longer television replacement cycles
                                                              • Figure 20: Length of time before TV replacement (mean), May 2016
                                                          • Television Purchasing Motivations

                                                            • Consumers seek larger TV screens
                                                              • Figure 21: Reasons for most recent TV purchase, May 2016
                                                            • Older consumers wait until they absolutely need a new TV
                                                              • Figure 22: Reasons for most recent TV purchase, by age, May 2016
                                                            • Consumers who want higher resolutions also want larger screens
                                                              • Figure 23: Reasons for most recent TV purchase, by reasons for most recent TV purchase, May 2016
                                                            • Interest in hardware specifications remains with general desire to upgrade
                                                              • Figure 24: Reasons for most recent TV purchase, by reasons for most recent TV purchase – just felt like upgrading, May 2016
                                                          • Important Factors when Purchasing Televisions

                                                            • Trust in brand ahead of customer reviews in purchase factors
                                                              • Figure 25: Importance of TV purchase influencers (NET summary), May 2016
                                                            • Asian consumers less likely to think advertising is important
                                                              • Figure 26: Importance of television and online advertisements in TV path to purchase, by race, May 2016
                                                            • Importance of traditional advertising rises with household income
                                                              • Figure 27: Importance of television and online advertisements in TV path to purchase, by household income, May 2016
                                                          • Consumer Behaviors when Purchasing New Televisions

                                                            • Bright future for connected home entertainment
                                                                • Figure 28: Behaviors when buying televisions, May 2016
                                                              • Most age groups prioritize screen size
                                                                  • Figure 29: Behaviors when buying televisions, by age, May 2016
                                                                • Opportunity to promote high-end televisions alongside children’s media devices
                                                                    • Figure 30: Behaviors when buying televisions, by age of children in household, May 2016
                                                                  • Black TV purchasers looking for deals
                                                                    • Figure 31: Behaviors when buying televisions, by race, May 2016
                                                                • Consumers' Attitudes Toward Televisions and Connected Devices

                                                                  • Considerable room to expand in connected media devices market
                                                                      • Figure 32: Attitudes toward televisions, May 2016
                                                                    • Multiple device support a strong engagement incentive for 18-34s
                                                                        • Figure 33: Attitudes toward televisions, by gender and age, May 2016
                                                                      • Parents divided in whether they need a television set
                                                                          • Figure 34: Attitudes toward televisions, by parental status, May 2016
                                                                        • Higher income households show greater need for universal control
                                                                            • Figure 35: Attitudes toward televisions, by household income, May 2016
                                                                        • Appendix – Data Sources and Abbreviations

                                                                          • Data sources
                                                                            • Sales data
                                                                              • Consumer survey data
                                                                                • Consumer qualitative research
                                                                                  • Direct marketing creative
                                                                                    • Abbreviations and terms
                                                                                      • Abbreviations
                                                                                        • Terms
                                                                                        • Appendix – Market

                                                                                            • Figure 36: Total US retail sales and forecast of televisions, at current prices, 2011-21
                                                                                            • Figure 37: Total US retail sales and forecast of televisions, at inflation-adjusted prices, 2011-21
                                                                                        • Appendix – Consumer

                                                                                            • Figure 38: Types of televisions owned (screen types), 2012-2016
                                                                                            • Figure 39: Brands of televisions owned, 2012-2016
                                                                                            • Figure 40: Brands of televisions owned, by demographics, February 2015-March 2016 (part 1)
                                                                                            • Figure 41: Brands of televisions owned, by demographics, February 2015-March 2016 (part 2)

                                                                                        Companies Covered

                                                                                        To learn more about the companies covered in this report please contact us.

                                                                                        Televisions - US - August 2016

                                                                                        £3,174.67 (Excl.Tax)