Consumer demand for 4K streaming video services will be quick to follow with one in five consumers already expressing interest, according to NPD Connected Intelligence
Port Washington, New York, June 1, 2016 – Despite adoption of 4K Ultra-High Definition (UHD) TVs only beginning to ramp up in 2015, over half (52 percent) of individuals surveyed said they were aware of these products, according to The NPD Group Connected Intelligence Connected Home Entertainment Report.
That statistic increases among men, and spikes to 73 percent among consumers that own an internet-connected TV. Consumer interest is also strong with one-third of individuals saying they are very or somewhat likely to use a 4K UHD TV in the future. As with consumer awareness, interest spikes among men and those that own an internet connected TV. Additionally, interest is much stronger among Millennials. Consumer demand has already resulted in over six million 4K UHD TVs being sold through April 2016*.
“While sales are spiking and demand is high, 4K UHD TVs remain an early adopter product,” said John Buffone, executive director, industry analyst, NPD Connected Intelligence. “Our data shows that just eight percent of consumers say they have used a 4K UHD TV. But, all of the trends point towards rapid growth during 2016 and beyond.”
Along with growing hardware adoption there continues to be more 4K UHD content available on TV, Blu-ray Disc and from market leading streaming services such as Netflix and Amazon. Increased consumer desire for and awareness of 4K streaming video services has accompanied the growing adoption of 4K TVs. One-third, 32 percent, of individuals surveyed are already aware of 4K streaming services, reports NPD Connected Intelligence. Awareness increases to 42 percent among 18- 34-year-olds, with 32 percent also interested in using the services.
“Demand for 4K video is only beginning to proliferate,” said Buffone. “Streaming video providers have been leading the market in terms of delivering 4K UHD content, and we expect them to continue to increase their programming array to satisfy growing consumer demand.”
*Source: The NPD Group / Retail Tracking Service
Connected Home Survey
More than 5,000 U.S. consumers, ages 18 and older, were surveyed in late January/early February. They reported on over 12,000 TVs installed within over 33,000 household rooms.
About Connected Intelligence
Connected Intelligence provides competitive intelligence and insight on the rapidly evolving consumer’s connected environment. The service focuses on the three core components of the connected market: the device, the broadband access that provides the connectivity and the content that drives consumer behavior. These three pillars of the connected ecosystem are analyzed through a comprehensive review of what is available, adopted, and consumed by the customer, as well as reviewing how the market will evolve over time and what the various vendors can do to best position themselves in this evolving market. For more information: http://www.connected-intelligence.com.
About The NPD Group, Inc.
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