Market Review 2023

The TV market continued to grow in 2023, with global shipments reaching 225 million units. This represents a growth of 6% over 2022. The growth was driven by a number of factors, including the continued popularity of streaming services, the rising popularity of gaming, and the increasing availability of affordable 4K and 8K TVs. 

Key Trends 

One of the key trends in the TV market in 2023 was the continued growth of OLED TVs. OLED TVs offer superior image quality to LCD TVs, with deeper blacks, brighter colors, and wider viewing angles. As a result, OLED TVs are becoming increasingly popular with consumers, particularly those who want the best possible picture quality for watching movies, TV shows, and gaming. Another key trend in the TV market in 2023 was the increasing popularity of large-screen TVs. Large-screen TVs are becoming increasingly affordable, and they offer a more immersive viewing experience. As a result, the demand for large-screen TVs is growing, particularly for 65-inch and 75-inch models. One of the most notable new technologies in the TV market in 2023 was the introduction of microLED TVs. MicroLED TVs offer the same advantages as OLED TVs, such as deep blacks, bright colors, and wide viewing angles. However, microLED TVs are also brighter than OLED TVs, and they have a longer lifespan.MicroLED TVs are still in their early stages of development, but they have the potential to revolutionize the TV market. MicroLED TVs are expected to be more affordable in the future, which could make them a more popular choice than OLED TVs.

The Samsung MicroLED 110-inch TV was one of the standout microLED models of 2023. It offered a stunning picture quality with deep blacks, vibrant colors, and sharp details. The TV also had a sleek design and was relatively affordable for a microLED TV.

Top Selling Brands

The top three selling TV brands in 2023 were Samsung, LG, and Sony. Samsung continued to be the market leader, with a global market share of 25%. LG was the second-largest seller, with a market share of 22%. Sony was the third-largest seller, with a market share of 14%. 

  

Standout TV Model

One of the standout TV models of 2023 was the LG OLED C2. The LG OLED C2 offered a number of improvements over the previous generation, including improved image quality, a new processor, and a new design. The LG OLED C2 was praised by critics and consumers alike, and it quickly became one of the most popular TVs on the market. 

Conclusion

The TV market is expected to continue to grow in 2024. The continued popularity of streaming services, the rising popularity of gaming, and the increasing availability of affordable 4K and 8K TVs are all expected to drive growth. OLED TVs and large-screen TVs are also expected to continue to be popular trends in 2024.