The global market for consumer electronics ended the year 2018 with a 6% increase in sales while total sales of around €138 billion were recorded.
All regions were able to make significant gains, according to the latest figures released by GfK. The market research company predicts growth of around 4% for 2019. There is still potential in smart devices equipped with upmarket features and integrated voice assistants, according to GfK.
The demand for consumer electronics on markets across the globe is influenced by major global trends, such as the increasing demand for premium devices. Almost half of consumers prefer to own fewer, but higher quality technological devices, according to GfK.
With a sales volume of more than €100 billion in 2018, the market for television equipment accounted for around three quarters of consumer electronics turnover globally and grew by more than 5%. This growth was largely due to high-end devices with a screen size of at least 50 inches. More than half of global TV revenues came from this segment in 2018.
In this regard, display panels with organic light diodes (OLED) are becoming increasingly popular. OLED is the leading display technology in the premium segment, with growth rates above 100%. OLED devices’ share in total TV revenues currently amounts to between 5 and 10%, and an increasing number of manufacturers are entering this market, causing prices to fall.
In Western Europe, the leading OLED region globally, the average price has fallen in the last year by around €300 to just under €2,100. The most frequently purchased models are already available for around €1,500.
Regarding screen resolution, 4K is still on the rise and the first 8K models are already on the market.