Home video is set to see a slight recovery in retail volume terms in 2021, as consumers return to physical stores after lockdown.
In response to the ever-increasing popularity of gaming in Saudi Arabia, leading brands including Samsung, Sony and LG have been advertising some of their products as ‘gaming televisions’. These are set to boost upcoming gaming consoles as they support a high frame rate and fast response time via HDMI inputs, delivering premium performance and maximum gaming experience.
In 2021, Samsung expects to maintain its industry-leading market position with the introduction and expansion of core products and by incorporating proprietary technology and features across all TV ranges. This includes Samsung’s new Neo QLED range along with Samsung’s MICRO LED, Lifestyle TVs and a company-wide alignment of operations through long-term sustainability programs.
Home video is expected to see modest retail volume decline throughout the forecast period as replacement cycles lengthen in a more price-sensitive climate. Televisions are unlikely to be used outside the main room of the house, as younger generations and are increasingly turning to smartphones and wireless speakers for their entertainment.
LCD TVs are set to witness declining sales and penetration over the forecast period as many consumers focus on streaming services on smartphones and wireless speakers for their entertainment. Although LCD TVs are likely to remain some of the most popular consumer electronics products, unit sales are anticipated to fall below six figures as early as 2022, with ongoing declines over the rest of the forecast period.
Electronics and appliance specialist retailers are expected to remain the most important distribution channel for home video products over the forecast period. This will be due to consumer confidence and trust in these retailers, which can offer a wide range of products at competitive prices, coupled with strong service and advice, which will be particularly relevant given the rapid pace of the introduction of new products and technology.
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This report originates from Passport, our Home Video research and analysis database.
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