A new report shows that approximately 223 million TVs are expected to be shipped this year. This is a slight increase from last year’s total TV shipments, which is due to the coronavirus pandemic.

According to a report by TrendForce (via TheElec), TV shipments by 2021 will increase by 2.8% over last year.

The main reason for the market growth is the continuation of the COVID-19 pandemic and major sports events such as the Tokyo Olympics.

For those who don’t know, TV shipments dropped significantly at the beginning of last year due to the initial outbreak. Although, the industry recovered slightly in the second half of the same year.

In 2020, global TV shipments will be approximately 217 million units, a decrease of 0.3% from 2019. In addition, due to the shortage of chip supply in the fourth quarter, some TV manufacturers had to postpone shipments of their products.

And the last quarter of last year. However, TV shipments are expected to grow in 2021, while large TVs are expected to grow even higher this year.

As panel prices rise and the profitability of each TV declines, TV manufacturers will turn to large TVs, which will provide higher profits and better profits.

The decline in profitability will affect TVs between 32-inch and 55-inch models. It is worth noting that the shipment of 65-inch TVs in the second half of 2020 increased by 23.4% year-on-year, while the same period of 70-inch and above TVs increased by 47.8%. TrendForce predicts that 65-inch or larger TVs will also grow by about 30% again this year.