High definition television (HDTV) looks set to enjoy a boost in overall market value in the US, as manufactures are predicted to enjoy a surge in cumulative HDTV sales over the next few years, increasing market value to $65 billion by 2009.
According to Parks Associates new
Mobile Entertainment Platforms & Services study, consumers are growing less sceptical about HDTV, which in turn is creating a gradual demand for HD products and services.
The report claims that nearly 47% of television households in the US plan to buy a HDTV in the next twelve months, with the increase boosting sales by 30% and HD video services by 38% by the end of 2006.
Commenting on the findings, Deepa Iyer, research analyst at Parks Associates, said: “Consumers who were once hesitant to spend huge dollars on a HDTV are now reconsidering this product category.”
As a result of this, service providers, including broadcasters, cable and DBS operators are beginning to feel a push to expand their HD video services in order to attract more HD subscribers.
Iyer continued: “It is a chain reaction. An increase in HDTV sales will fuel the demand for other services including high-definition VOD, local content, primetime programming, and movies. However, this industry lacks a sense of urgency in its efforts to bring compelling HD services to consumers. It has to recognise that HDTV will become ubiquitous only if collateral forces within come together to embrace the change.”
Figures from JupiterResearch predict HDTV purchases to amount for 70% of TV sales in the US by the end of the decade (see HDTV To Dominate TV Sales By 2010).
According to Informa Telecoms & Media, 28.6 million high-definition television sets will be in homes world-wide by the end of 2005, increasing to a massive 106.2 million by 2010 (see HDTV To Reach 106.2 Million By 2010).
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