Having declined marginally during 2020, with the economic shock of the pandemic partly counterbalanced by the fact that consumers were spending more time at home and seeking entertainment and distraction, retail current value sales of home video will see strong growth during 2021, as economic conditions stabilise, boosting consumer confidence. The fact that two big international sporting events (the Olympic games and the UEFA European Championships) were postponed from 2020 and 2021 will also have a positive impact on demand for televisions.
While LG and Samsung dominate retail volume sales of home video (they will account for almost two thirds of retail volume sales in 2021), Chinese brands like HiSense, Xiaomi and TCL are an emerging threat to them. Xiaomi in particular has been aggressively launching new products at very competitive prices.
While LCD TVs account for the bulk of retail volume sales of home video, demand for OLED TVs expanded rapidly during the review period (albeit for quite a low base). OLED TVs were introduced to Portugal just before the beginning of the review period, with LG the only player until 2017.
Retail current value sales of home video will decline during 2022, partly because the big sporting events that took place during 2021 led some local consumers to bring forward replacement purchases. The fact that restrictions on movement are likely to be eased as the country’s COVID-19 vaccination rate increases will also play a role in this, as many consumers are likely to spend less time at home watching television during the year.
OLED TVs are set to perform particularly strongly during both 2022 and the forecast period as a whole. Apart from an improved economic environment, the re-opening of physical stores will also play a role in this.
By the end of the forecast period, retail volume sales of video players will be negligible. Ongoing growth in the popularity of streaming services like Netflix, HBO, Disney+ and Amazon Prime will be the main driver of this.
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Understand the latest market trends and future growth opportunities for the Home Video industry in Portugal 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.
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This report originates from Passport, our Home Video research and analysis database.
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