2022
9
UK Televisions Market Report 2022
2022-06-11T04:07:55+01:00
OX1104609
2195
152081
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Report
en_GB
"After a couple of strong years on the back of COVID-19, the TV market faces a challenging 2022, as the cost of production rises and household budgets are squeezed. The…

UK Televisions Market Report 2022

£ 2,195 (Excl.Tax)

Description

The UK Televisions Market Report identifies consumers’ attitudes towards TVs and operating TV brands, the impact of the cost of living crisis and technology innovation in the TV market. This report covers the TV market size, market forecast, market segmentation and industry trends for the UK television market.

Current Market Landscape 

Within the television market, there has been a fluctuation in demand, with the pricing of products as well as COVID-19 influencing sales. When this is combined with the cost of living crisis, there is concern that the increasing price of TVs is putting pressure on the television market.

However, there is still a demand for a new TV from consumers. This was especially exacerbated during the two years of the pandemic when consumers relied on in-home entertainment instead of socialising. As a result, the rising costs for TVs and increased competition means a challenging landscape for brands to increase their TV market share.

 

Market Share and Key Industry Trends

There has been increased consumer expenditure for the household, including TVs, but the cost of living crisis is constricting household budgets, and is impacting the TV market margins. This means that consumers may be forced to trade down to cheaper models or delay new purchases.

  • 25% of consumers plan to buy a new TV in the next 12 months.
  • 69% of TV owners say they are encouraged to buy a TV based on picture quality.
  • 32% of UK TV owners have two televisions.
  • 48% of UK TV owners would be encouraged to buy from a brand they haven’t heard of if a longer warranty was provided.

 

Future Trends in the UK TV market

Financial pressures will continue for consumers, and the component shortages of materials will mean the television market will not necessarily benefit from the downward trend of prices in the past.

The future advancement of technology will personalise the TV experience, and connectivity standards will enhance interoperability with other devices.  Despite the predicted benefits from newer panel technologies and AI creating a personal experience for the home, there is still consistent flat growth in the TV market size.

Read on to discover more details or take a look at all of our UK Technology Market Research.

Quickly Understand

  • The television market recovery post-pandemic.
  • The impact of the cost of living crisis on the TV market.
  • Purchase drivers of new TVs.
  • Consumer attitudes towards different TV brands.
  • Innovations of companies operating in the TV market.
  • Explores TV market size and TV market share.

Covered in this Report

Products: Televisions.

Brands:  Samsung (Samsung Freestyle), Sony (Playstation 5), LG, Toshiba, Hisense (L9G TriChroma Laser TV Projector), Philips, Panasonic, Microsoft (Xbox), Sky (Sky Glass), Currys PC World, Argos, NOW TV, TCL (Nxtwear Air), FIFA.

Expert Analysis from a Specialist in the Field

This report, written by Joe Birch, a leading analyst in the Technology sector, delivers in-depth commentary and analysis to highlight current trends and add expert context to the numbers.

“After a couple of strong years on the back of COVID-19, the TV market faces a challenging 2022, as the cost of production rises and household budgets are squeezed. The emergence of hardware and software bundled together in TV sets, is one area that can see TVs evolve and drive further personalisation of services. Meanwhile, wider adoption of connectivity standards will enhance interoperability with other connected devices, making the TV a digital hub for the home.”

Joe Birch
Consumer Technology Analyst

 

 

Table of Contents

  1. Overview

    • Key issues covered in this Report
    • Market context
    • Products covered in this Report
  2. Executive Summary

    • The five-year outlook for televisions
      • Figure 1: Category outlook, 2022-27
    • The market
    • Market size and forecast
    • Post-pandemic correction and increased costs will dampen TV market
      • Figure 2: Market forecast for televisions value, 2017-27
      • Figure 3: Market forecast for televisions volume, 2017-27
    • Inflation is the key concern for 2022 for consumers, brands and the economy
    • Discount days will continue to be an opportunity for retailers to push new purchases
    • Companies and brands
    • Brands look to integration of software within TVs
    • Sony and Samsung look to QD-OLED as the next battleground in picture quality
    • Samsung is an aspirational brand whereas Sony and LG are deemed fun
    • Sky’s huge marketing campaign for Sky Glass product sees advertising spend rocket in early 2022
    • The consumer
    • Promote TV solutions as part of consumer’s focus on spending on the home
      • Figure 4: Locations of TVs in the household, 2022
    • Household make-up can be a driver of additional TV-set purchasing
      • Figure 5: Number of TVs in the household, 2022
    • Samsung continues market dominance as most owned and used brand
      • Figure 6: Brands of TV in the household and brand of main TV in the household, 2022
    • Growing household numbers can build need for additional sets
      • Figure 7: Intentions to purchase a new TV set, 2022
    • Sound performance is more important for older consumers compared to younger ones
      • Figure 8: Purchase drivers for new TV set, 2022
    • Guide consumers to the right choice
    • Hardware and software to be the bedrock of the future TV experience
      • Figure 9: Attitudes towards televisions, 2022
  3. Issues and Insights

    • Inhibited spending power, rising costs for TVs and post-pandemic hangover will dampen market performance in 2022
    • Put televisions as the curator of consumers’ digital lives
  4. Market Size and Performance

    • Manufacturing improvements have led to falling prices and steadily declining volumes
    • Televisions were a pandemic ‘winner’
      • Figure 10: Value of the UK market for televisions, 2016-21
      • Figure 11: Volume of the UK market for televisions, 2016-21
  5. Market Forecast

    • The next couple of years will be challenging for the TV market
      • Figure 12: Category outlook, 2022-27
    • Post-pandemic market correction and increased costs will dampen TV market
    • Global supply-chain pressures will increase prices for TVs
    • Retailers and manufacturers raise the likelihood of increased prices in 2022
    • Longer-term production prospects will see TV market stabilise
    • Growth in households will keep TV sales momentum up over the long term
      • Figure 13: Market forecast for televisions value, 2017-27
      • Figure 14: Market forecast for televisions volume, 2017-27
    • Learnings from the last income squeeze
    • Market drivers and assumptions
      • Figure 15: Key drivers affecting Mintel’s market forecast, 2016-26
    • Forecast methodology
  6. Market Drivers

    • The conflict in Ukraine will hurt the UK economy
    • Production of OLED chips looks set to be hit due to ongoing manufacturing pressures
    • Wider supply-chain issues can impact domestic TV market
    • Inflation is the key concern for 2022 for consumers, brands and the economy
    • TVs face competition from other devices for the role of watching TV
    • Switch-off from streaming services may also have a knock-on effect on new TV set sales in the short term
    • Consumers’ financial sentiment has slipped from its recent high point
      • Figure 16: Household financial sentiment index, 2016-22
    • Discretionary spending on higher-priced technology goods can suffer as households look to curb spending
      • Figure 17: Potential areas of consumer spending cutback, 2022
    • Discount days offer an opportunity to push new purchases
      • Figure 18: Black Friday electrical purchases, 2020 and 2021
    • The transition to an 8K world is still a long way off
  7. Launch Activity and Innovation

    • Brands look to build additional features into TVs
    • Sky launches Sky Glass combining hardware and software for the first time
    • Microsoft announces Xbox to be built into TVs
    • Screen innovations will drive the next viewing experience
    • Sony and Samsung look to QD-OLED as the next battleground in picture quality
    • LG introduces new technologies in its mainstream 2022 models
    • Samsung introduces new Neo QLED 4K and 8K line-up
    • Hisense unveils mini Led TV with Google TV
    • Top brands use gaming to promote flagship 2022 TVs
    • Samsung’s 2022 line-up features cloud gaming tie-up
    • Sony optimise Bravia sets for PlayStation 5 gaming
    • Hisense announce U7H TV designed for gaming
    • TV goes beyond the panel to projectors, lasers and headsets
      • Figure 19: TCL Nxtwear Air wearables, January 2022
  8. Brand Research

    • Brand map
      • Figure 20: Attitudes towards and usage of selected brands, 2022
    • Key brand metrics
      • Figure 21: Key metrics for selected brands, 2022
    • Brand attitudes: Samsung is seen as a brand worth paying more for
      • Figure 22: Attitudes, by brand, 2022
    • Brand personality: Sony and LG’s strong gaming pedigree marks them out as fun brands
      • Figure 23: Brand personality – macro image, 2022
    • Cross-category success marks Sony out as a prestigious brand
      • Figure 24: Brand personality – micro image, 2022
    • Brand analysis
    • Samsung, the world’s largest TV manufacturer, is the most aspirational TV brand
    • Sony has the lowest proportion of consumers who would reject the brand outright
    • LG is seen as offering good value
    • More consumers have used Panasonic in the past than in the last 12 months
    • Philips struggles for differentiation and has the lowest levels of endorsement out of all the brands
    • Toshiba’s lack of consumer-facing brands means it lacks personality
    • Hisense has work to do outside of sponsorship to establish a brand identity
  9. Advertising and Marketing Activity

    • Advertising spend rebounds in 2021
      • Figure 25: Total above-the line, online display and direct mail advertising expenditure on Televisions, 2017-21
    • Sky powers advertising spend in 2021 and 2022 for its Glass TV
    • Digital spending falls in 2021 as cinema, radio and OOH rebound
      • Figure 26: TV advertising spend of the leading advertisers, by media type, 2021
    • Sky’s ongoing Glass campaign sees 2022 revenues eclipse 2019 and 2020’s total in just four months
      • Figure 27: Total above-the line, online display and direct mail advertising expenditure on Televisions, by media type, 2018-2022
    • Nielsen Ad Intel coverage
  10. Television Ownership and Locations in the Home

    • Still room for organic growth for additional TV sets for growing number of households
      • Figure 28: Locations of TVs in the household, by age, 2022
    • Promote TV solutions as part of consumers’ focus on spending on the home
    • The broadening of viewing occasions and accessing media can help TVs further their footprint in the home
      • Figure 29: Locations of TVs in the household, 2022
    • City dwellers could be warm targets for bedroom TVs
    • Household make-up can be a driver of additional TV-set purchasing
      • Figure 30: Number of TVs in the household, 2022
  11. Television Brand Ownership

    • Samsung continues market dominance as most owned and used brand
    • New screen technologies can help main brands consolidate market position
    • Smaller players can play a disruptive role in the TV landscape
      • Figure 31: Brands of TV in the household and brand of main TV in the household, 2022
    • Samsung’s premium brand appeal could protect it from cost of living squeeze
    • LG’s reputation for gaming appeals to younger males
      • Figure 32: Customer profiles of the leading TV brands, 2021
  12. Type of TVs Owned

    • 4K TV sets now in nearly three in 10 households
      • Figure 33: Type of TV set used most often in the household, by generation, 2022
    • 8K TVs will take a decade to reach significant audience numbers
      • Figure 34: Type of TV set used most often in the household, 2022
    • A quarter of 4K/UHD sets owned are LG
      • Figure 35: Main brand of TV set by type of TV set used most often in the household, 2022
  13. Intentions to Purchase

    • Appeal to young families to drive TV-set purchasing
    • Cater to the spontaneous consumer with flash sales and last chance offers
      • Figure 36: Intentions to purchase a new TV set, 2022
  14. Purchase Drivers

    • Longer-term consideration of TV purchases is more thought-out process
      • Figure 37: Factors most important in buying a new TV by length of time
    • Some consumers will be driven primarily by discounting, but still want a brand name
    • Older consumers prioritise sound quality of new TV purchases
      • Figure 38: Purchase drivers for new TV set, by age, 2022
      • Figure 39: Purchase drivers for new TV set, 2022
    • Total reach maximised by brand and sound quality
      • Figure 40: TURF Analysis – televisions, March 2022
      • Figure 41: Table – TURF Analysis – televisions, March 2022
  15. Attitudes towards TVs

    • Keep things simple to help consumers choose
      • Figure 42: Attitudes towards televisions, 2022
    • Target the social young professionals in 2022
      • Figure 43: Television behaviours – CHAID – Tree output, March 2022
    • Good appetite for bundling services and hardware in TVs
    • TVs can also be a hub of connectivity for the smart home
      • Figure 44: Attitudes towards televisions, 2022
    • Financial concerns are an opportunity for challenger brands and to promote older stock
      • Figure 45: Attitudes towards televisions, 2022
    • Give viewers something in return for their data
      • Figure 46: Attitudes towards televisions, 2022
  16. Appendix – Data Sources, Abbreviations and Supporting Information

    • Abbreviations
    • Consumer research methodology
    • TURF Analysis methodology
      • Figure 47: TURF Analysis – Televisions, March 2022
      • Figure 48: Table – TURF Analysis – Televisions, March 2022
    • CHAID analysis methodology
      • Figure 49: Television Behaviours – CHAID – Tree output, March 2022
      • Figure 50: Television Behaviours – CHAID – Table output, March 2022
  17. Appendix: Forecast Methodology

    • Market forecast and prediction intervals
      • Figure 51: Mintel televisions market value forecast, 2022-27
      • Figure 52: Mintel televisions market volume forecast, 2022-27
    • Market drivers and assumptions
    • Forecast methodology

About the report

This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.

Market

Mintel provides a range of market information, frequently through the category level, including market size and forecasting, complete with market drivers that illustrate the forces that shape a category or market.

Consumer

Mintel’s proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.

Brand/Company

Mintel provides overviews of the top brands and manufacturers, and uses consumer research to explore attitudes and reactions to brands, as well as insight into what will resonate with consumers.

Data

Market reports provide appendices of data to support the research and insight produced. Our databooks* are easily manipulated and downloadable to support your research needs and covers factors from consumer attitudes to market forecasts.

*databooks not available with UK B2B Industry reports.

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