LCD-TVs will become the largest segment of the consumer electronics industry within the next four years, according to analyst iSuppli.

The market watcher revealed global OEM factory revenue for LCD-TVs will increase to $110.8bn in 2012, almost double the $61m achieved in 2007.

Main drivers for this growth include the global transition to digital broadcast, rapidly declining prices and consumer preferences for high-definition displays and thin form-factor sets.

Sheri Greenspan, senior analyst at iSuppli, said: “Consumers want their electronics in good times and in bad. Because of this, the consumer-electronics market will continue its incremental growth over the next four years, driven by LCD-TVs, along with consumer appliances, digital set-top boxes (STBs), digital still cameras and video games consoles.”

Rising in parallel with the LCD-TV market is the expansion of the digital STB segment, iSuppli predicted. Revenue for STBs is expected to grow to $25.6bn by 2012, rising at a compound annual growth rate (CAGR) of 11 per cent, compared to $15.2bn in 2007.

Greenspan added: “Consumers continue to upgrade their televisions with new premium services such as high definition and video on demand, requiring new STBs.”