The popularity of LCD TVs has increased during 2021, because of COVID-19 resulting in having to spend more time at home. Moreover, many sport events have taken place in 2021, such as the Ice Hockey World Championship, the European Football Championship or the Summer Olympics in Tokyo.
Despite OLED TVs being available for a significantly higher price compared with LCD TVs, more consumers have been willing to purchase them due to their superior picture quality. OLED TVs is a fairly new category, which consumers are exploring and it is recording strong sales growth from a low base in 2021.
The category of video players keeps losing ground in Hungary as consumers perceive these devices as not necessary. Even with people spending much more time at home due to COVID-19 restrictions, the demand for video players has not increased.
The projected volume sales growth of LCD TVs is expected to be led by consumers shifting towards having two or more LCD TVs in their household. Consumers are also likely to purchase cheaper TVs for their leisure cottages.
With higher availability of OLED TVs and a growing number of promotions, the category is expected to grow rapidly in popularity. The rising competition will lead to price decreases, which will attract consumers, and it is likely that more players, especially Chinese manufacturers, will enter the category.
Overall, home video is expected to record further volume growth over the forecast period, improving on the review period performance. Despite the negative economic impact of COVID-19 affecting consumer confidence and disposable incomes, the increasing popularity of on-demand services and the shift to larger televisions and higher definition to enhance the viewing experience will drive sales.
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Understand the latest market trends and future growth opportunities for the Home Video industry in Hungary with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Home Video industry in Hungary, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Home Video research and analysis database.
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