New research out this week from the Consumer Electronics Association suggests a growing number of consumers are embracing flat panel televisions as the wave of the future. This, with other types of televisions thrown in as well, comes in to the estimated tune of $22 billion worth of TVs shipping before year’s end.
The CEA’s numbers, said the trade group, indicate that while only 17 percent of consumers currently own a flat panel display, 49 percent say their next television purchase will be some type of flat panel technology. It was found that about half of consumers are familiar with the term â€œflat panel TVâ€, but plasma is the most recognized flat panel technology. Additionally, many consumers were unsure what technology they currently own and the differences between the newer available technologies.
“Thin is in when it comes to TVs,” said CEA Director of Industry Analysis Sean Wargo, in a statement. “The current TV market is in the midst of a massive upgrade cycle. Flat panel shipments now comprise of 36 percent of total revenues and growth is assured with FPD reaching 63 percent of revenues by 2009 – despite and because of continual price declines in this category. All of this growth brings the opportunity for attached purchases, such as mounts, cabling, universal remotes and even furniture. In fact, this may end up being more lucrative than set sales themselves and is a tremendous opportunity for retailers.”