"The public has really taken to high-definition, attracted by falling prices for impressive looking sets," says author of the report, Adam Thomas.

"But the problem remains that once people get these sets home from the showroom, they can be disappointed with the results. First they have to subscribe to a content service and even then there can be relatively little to watch," he added.

According to the report, of the 48.2 million HD households at the end of 2006, only a third had the necessary set-top box (or integrated HDTV set) to enable content to be viewed. i.e. they are actually viewing HD content, rather than simply having the potential to do so.

But by 2011, Informa expects HD programming to be much more readily available, with some 70 percent of HDTV set homes receiving content - or 105 million homes.

One of the reasons cited for this is industry regulation in countries such as Australia in the US.

"There is some evidence that in the US, Japan and Australia the case for HDTV has been strengthened by regulation. Broadcasters have, for example, been set targets for delivering a quota of programming in HD," said co-author of the report, Simon Dyson.

"If the scarcity of content in other markets continues for much longer, that option must be seriously considered elsewhere," he added.