OLED TVs are taking over Europe's premium TV market. Omdia expects OLED TVs to reach a 55% market share in 2022 and 66% next year, reports ETNews.
Market research firm Omdia defines the premium TV market as TVs costing more than $1500, which actually excludes many 55-inch OLED TVs such as LG B1 and LG C1 and even some 65-inch models.
There are currently three TV display technologies available on the consumer market: LCD (often mistakingly referred to as LED or QLED), LED (such as microLED), and OLED (WOLED and QD-OLED).
OLED has grown its share (in terms of units) of Europe's premium market from 32.1% in 2019 to 47.7% in 2021, and is expected to increase to 55% this year and 66% next year.
LCD TVs are still popular in the 75- to 85-inch segment where OLED TVs remain expensive, although 77-inch OLED TVs are getting more affordable. The first 83-inch 4K OLED TVs were launched about a year ago and the first 97-inch 4K OLED TV will launch later this year.
Europe premium TV market share. Source: Omdia
Europe is the largest TV market
Europe's sales accounted for roughly 23% of the global TV market of 213.5 million units last year. This makes Europe the world's largest TV market as North America accounted for 22%. European consumers typically buy more premium products.
Around 2.9 million OLED TVs were sold in Europe last year (44% of worldwide sales), which is expected to increase to 3.4 million units this year.
LG Electronics, Sony, and Philips had 65.8%,17%, and 11% sales shares of OLED TVs in Europe, respectively.
- Source: ETNews, Omdia
