Consumer demand has already resulted in more than six million 4K UHD TVs being sold through April 2016, according to The NPD Group. And now the research firm is predicting rapid growth in sales throughout this year and beyond.
In late January/early February, more than half (52 percent) of individuals surveyed in “The NPD Group Connected Intelligence Connected Home Entertainment Report” said they were aware of 4K Ultra-High Definition (UHD) TVs. That awareness reportedly increases among men, and hits 73 percent among consumers that own an internet-connected TV. More than 5,000 U.S. consumers, ages 18 and older, were reportedly surveyed.
The report also marks consumer interest as strong with one-third of individuals saying they are very or somewhat likely to use a 4K UHD TV in the future. As with consumer awareness, interest spikes among men and those that own an internet connected TV. NPD further notes that interest is much stronger among Millennials.
“While sales are spiking and demand is high, 4K UHD TVs remain an early adopter product,” John Buffone, executive director, industry analyst at NPD Connected Intelligence, explains. “Our data shows that just eight percent of consumers say they have used a 4K UHD TV. But, all of the trends point towards rapid growth during 2016 and beyond.”
Increased consumer desire for and awareness of 4K streaming video services such as those from Netflix and Amazon has accompanied the growing adoption of 4K TVs, according to the research firm. About one-third (32 percent) of people surveyed by NPD are already aware of 4K streaming services, and awareness increases to 42 percent among 18- 34-year-olds, with 32 percent also interested in using the services.
“Streaming video providers have been leading the market in terms of delivering 4K UHD content, and we expect them to continue to increase their programming array to satisfy growing consumer demand,” Buffone says.