According to the "China Laser TV Market Analysis Quarterly Report" released by RUNTO, the shipment volume of the laser TV market in Chinese mainland reached 280,000 units in 2021, an increase of 31.9% year-on-year, and sales of 4.7 billion yuan, an increase of 27.7% year-on-year.
Projection technology has become a track for both investment and industry in recent years. Projection products can be divided into two categories from the system side: intelligent and non-intelligent; from the light source can be divided into laser, LED, traditional bulbs, etc.; from the technology can be divided into LCD, DLP, LCOS, etc.; from the application scenario can be divided into home, commercial, engineering, cinema, education, office, etc. The definition of laser TV in this article is a home audio and video device that uses a laser light source to project a picture, with a projection ratio of less than 0.4, and a built-in intelligent operating system.
Scale: The market has maintained substantial growth
Driven by capital and technology, the industrial camp of laser display is growing day by day, and international well-known brands such as Samsung, LG, Sony, AOC, HP, and Epson have successively released laser TV products. The diversification of brands and products has pushed up the overall market sales scale.
Chinese mainland is currently one of the most important consumption areas for laser TVs in the world. According to RUNTO data, the compound annual growth rate of China's laser TV market from 2015 to 2021 is as high as 155.8%.
2015-2021 Chinese mainland laser TV market shipments changes
Source: LOTTO, Unit: 10,000 units, %
Competition: The market concentration exceeds 80%, showing a high-oligopoly pattern
In 2021, the head brand effect in the Chinese market will be further enhanced, the competitive advantage of oligopolies will continue to increase, and the brand concentration will continue to increase. According to RUNTO data, China's laser TV market still shows a high oligopoly pattern in 2021, with the CR3 index reaching 84%, an increase of 4 percentage points year-on-year.
Hisense is the only brand in the laser TV market with more than 100,000 units, an increase of 22.9% year-on-year, and its market share fell by 3 percentage points to 43%.
Fengmi is full of firepower in products and channels, and its shipments increased by 58.6% year-on-year, ranking second in the market. Changhong has covered the mid-to-high-end large-screen household consumer market by releasing more laser TVs, and its shipments have increased by 65.4% year-on-year, ranking third.
In 2021, the Chinese mainland the key brand share of the laser TV market
Source: LOTTO, in %
Price: Democratization and differentiation at both ends
In 2021, key brands will frequently release new products within 10,000 yuan. Changhong launched a 100-inch 4K laser TV, and the package price was pulled into the 9,000 yuan boundary. Fengmi released a series of laser TV products within 10,000 yuan, and the price constantly refreshed consumer cognition. RUNTO believes that the democratization of laser TVs is the key to the size of the market.
According to data from LOTTO Technology (RUNTO), the average price of laser TVs in 2021 is 16,800 yuan, down 3.2% year-on-year. In terms of price segments, the share of products below 10,000 yuan has increased significantly, increasing by 15.5 percentage points over 2020 to 23.6%; at the same time, the head brand has increased its product layout at the high end, making the market share of the price segment of more than 30,000 yuan reach 9.8%, an increase of 2.1 percentage points year-on-year.
In 2021, the price segment structure of the laser TV market Chinese mainland changed
Source: LOTTO, in %
Product: The independent qualities of the laser are rapidly and iteratively upgraded
The head brand will complete the construction of the product line echelon in 2021, and the products will be upgraded to high-definition, high-brightness and high-color for different groups of consumers to choose calmly.
Resolution has been from 2K to 8K full line lineup, according to LOTU technology (RUNTO) data show that in 2021, 4K resolution has gradually become the standard of laser TV, the market share reached 89.7%; in addition, with the launch of FHD products by xiaomi, Dangbei, Epson and other brands, the FHD share increased by 3.3 percentage points, the share to 9.8%. At CES in early 2022, Hisense launched an 8K laser TV, representing that laser TV has entered the 8K era and is also a milestone in the development of laser display.
In 2021, 3.5-4K lumens products occupied the mainstream of the market, which increased significantly compared with 2020, and the market share increased to 47.5%, an increase of 3.1 percentage points year-on-year.
Tri-color laser has become an important choice direction for laser TVs. In 2021, its sales volume continued to rise, accounting for 34.2% of the market size.
In addition, the laser TV product form has also been introduced, and many new black technology products such as curling screen laser TV and screen sound laser TV have entered the consumer market. Coupled with the social functions given by AI smart cameras, it has followed the progress of mainstream LCD TVs in intelligent human-computer interaction in many aspects. Although international brands are accelerating into the laser camp, Chinese laser TV companies represented by Hisense, Fengmi and Changhong have begun to define the blueprint and direction of a new generation of laser display technology.
Forecast: 450,000 units in 2022, an increase of 60.7%
The projection display in the home market has become another new entrance to home entertainment after LCD TVs, and the market size continues to expand. With the improvement of users' requirements for the viewing experience, large screens have become the main trend in the development of display devices. RUNTO believes that laser TV products have huge room for development at the level of consumer groups, technological breakthroughs, and scene applications.
In addition to home applications, laser TVs have also begun to penetrate into the commercial market in conference rooms, catering, entertainment, clubs, teaching and other environments. According to runto forecast data, in 2022, the shipment of Chinese mainland laser TVs will reach 450,000 units, an increase of 60.7% year-on-year.
More content and other categories are available in "Capturing the Ten Millions of Living Room Hardware Outlets: 2021 China Living Room IoT Smart Device Development White Paper".
RUNTO's China Laser TV MarketAnalysis Quarterly Report contains quarterly updates on the size of laser TV market shipments, sub-brand/brightness/resolution/technology, as well as market hotspot information, new product introductions, price trends and changes.