Demand for high resolution TVs was limited in 2013 and stayed relatively flat this year, with some analysts projecting no growth at all. However, the panels are getting cheaper and shipments are expected to pick up fast.

FutureSource Consulting found that growth remains slow in Europe, but there’s movement in other parts of the world.

"4K adoption is forecast to grow quickly from 2015 onwards with over 100 million shipments projected in 2018, representing 38% of the total TV market," said David Tett, research analyst at Futuresource Consulting.

The market share of UHD TV sets in Europe currently stands at about 10% and in North America it is hovering around the 8% mark. However, demand is expected to grow at a compound annual growth rate (CAGR) of 72% over the next four years.