Television screens are noticeably getting bigger these days. South Korea’s average screen size is a staggering 54 inches today compared to its 2010 average screen size – which was a more modest 44.5 inches.
The US and China expect to have an average screen size of 52 and 54.1 inches by the end of 2020. In it’s December issue, IHS Markit has reported that globally, the shipments of 60-inch-plus TVs had seen an increase of more than 40% in Q3 of 2018 alone.
This solidifying trend has two explanations that make sense, one being that TV manufacturers are expecting larger revenues and lower manufacturing costs squeezed by competition, and the other one being that the shift in increasing screen sizes is linked to social, cultural, and technological trends.
The marginal development seen in the recent history for TVs is off it losing the focal point in homes due to the rise of smartphones and tablets. As smartphones and tablets work as solitary devices used in bedrooms, the television in the living room has grown to be more a communal centre, leading its size trend being pushed upwards.
Paul Gray, the Research and Analysis Director for IHS Markit’s TV division explained to Forbes that this process has been helped by market declines for second and third TV sets. “There is something in your idea about tablets and smartphones, we see that the secondary set market is definitely shrinking, and this removal of small sets from the mix also accelerates average size growth,” he says.
IHS Markit affirms that one of the reasons for the increase in size can be linked to “substantial over-investment in capacity in China.”
Additionally, the LCD industry is able to generate more revenue per meter square if they build bigger screens. When looking at it through the technological aspect, it can be seen that the addition of new-visual technologies ranging from Ultra HD to a Higher dynamic range is a driving force for consumers.
“Screen size and picture quality are driving consumer purchase decisions, instead of price,” said Stephen Baker of the NPD Group in a published report about TV ownership and trends.
This new age technological development can also be seen from the content space, with Netflix and Amazon Video’s growth in streaming services. These platforms are pumping millions of dollars to churn out high-quality content with a cinematic scope that makes consumers want to watch it on a screen that will do justice to the content.
Another factor that is pushing rapid content consumption in the upward direction is the increasing culture of “staying in.”
A study by Mintel from June 2018 showed that 55% of Americans would rather prefer to drink at home versus going out. Adding to this, restaurants in the US have seen a surge in the number of customers choosing home deliveries compared to dining out.
So just how big is big enough? Probably when there’s no space for the couch? Until then, expect bigger screens in the future. This trend is here to stay.