The launch of new consoles PlayStation 5 and Xbox Series X this year will lead to increased TV shipment next year, according to market research firm Omdia.
The year 2020 is the second time that Sony and Microsoft has launched their gaming console in the same year.
PlayStation 4 and Xbox One were both launched in November 2013. This led to a 32% increase in console shipment the following year and 5% increase in TV shipment, Omdia said. A similar increase is expected in 2021, it said.
TV makers such as Samsung and LG has launched TVs that support 8K resolution and 120fbps. Both PlayStation 5 and Xbox Series X support the features.
TV shipments between 2011 and 2013 were dropping before the launch of the two gaming console, Omdia said, making next year’s shipment outlook to be optimistic.
There was an exception to this back in 2011, the firm said. Gaming console shipment rose 1% in 2011 but TV’s fell by 7%. This was due to the Japanese government giving eco-point incentive for TV purchases and Western European countries completing their transition to digital, which increased global TV shipment substantially. As most consumers already bought their new TV in 2010, this led to less shipment in 2011, Omdia said.
The firm expects the two consoles will ship 31% more next year compared to this year.