Retail volume sales of home video are set to bounce back to modest growth in 2023 and accelerate during the remainder of the forecast period, supported by strong population growth, urbanisation, and rising levels of disposable income. LCD TVs will remain the main driver of growth as, alongside a smartphone, LCD TVs are the gadgets perceived to be most in-demand by Nigerian consumers.
Contrastingly, demand for OLED TVs will remain very limited, even among the country’s most affluent consumers. However, it is thought that the launch of different screen sizes by Fouan (the local distributor of LG and the dominant player in OLED TVs) as well as special promotional and price discounting strategies will lead to much improved retail volume growth rates.
The entrant of new players such as Infinix (already a strong player in the smartphone category) into the home video category is expected to lead to growing innovation in the category and more competitive pricing. Although consumers are expected to see improved purchasing power when compared with the review period, many will continue to look for special deals, valuing more affordable prices as well as decent quality.
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Understand the latest market trends and future growth opportunities for the Home Video industry in Nigeria 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 Nigeria, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Home Video includes televisions and video players.See All of Our Definitions
This report originates from Passport, our Home Video research and analysis database.
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