Strategy Analytics: Global Household Smart TV Ownership to Surpass 50% by 2026 | Business
BOSTON – (BUSINESS WIRE) – July 20, 2021–
Over 665 million households globally owned a Smart TV by the end of 2020. This equates to 34% of global households, a figure expected to rise to 51% by 2026 when Smart TV ownership reaches 1 , 1 billion households. Smart TV sales increased 7.4% in 2020 to 186 million units, accounting for 79% of all flat screen TVs sold. The report notes that sales growth over the past year has been the strongest in North America, where government stimulus controls have helped boost spending on home entertainment products as consumers find themselves skipping past more time at home due to Covid-19 restrictions. Samsung was the leading Smart TV maker in terms of annual sales units for the ninth consecutive year in 2020, while TCL overtook LG and came in second place for the first time. Meanwhile, the smart TV market continues to cluster around a handful of TV streaming platforms or operating systems. Samsung’s Tizen is leading the way, but major third-party software platforms like Android TV and Roku TV OS have made great strides in recent years. The four major smart TV operating systems accounted for over 50% of total sales in 2020, up from 33% in 2015.
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Figure 1. Global Smart TV Household Penetration by Region (Graphic Business Wire)
Strategy Analytics’ full Connected Home Devices report, Global Smart TV Forecasts for 88 Countries 2011-2026, can be found here:
“Smart TV is a standard feature of most flat panel TVs sold today and therefore household smart TV penetration will inevitably continue to increase as consumers replace old TVs with new, modern smart versions.” , says Edouard Bouffnie, Senior Analyst, Connected Home Devices. “As smart functionality is no longer a point of differentiation but has become a checkbox necessity, smart TV manufacturers have had to choose between maintaining their own software and application ecosystems or licensed from a platform. software form from a third-party partner. While many have decided to partner with Google’s Android TV and Roku in order to avoid the ongoing costs of maintaining their own platform, several brands, including Samsung, Vizio, and LG, are going it alone and are looking to capitalize on the rapid growth of Connected. Television advertising company.
“The use of smart TV is growing and is fast becoming the preferred platform for accessing online video content,” comments David Watkins, vice president, Media and Intelligent Home Practice. “However, today’s smart home TV landscape is incredibly complex, and consumers can choose from multiple devices in multiple configurations. Take into account the different viewing habits among different household members and it is clear that TV streaming platform providers face a significant challenge in generating engagement and ensuring that viewers stay on their platform and do not switch to another source. Smart TV operating system vendors should seek to influence the viewer journey through enhanced content discovery capabilities, advanced analytics and advertising platforms, and the development of an intuitive and user-friendly user interface.
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Strategy Analytics, Inc. is a global leader in supporting businesses throughout their planning lifecycle with a range of customized market research solutions. Our multidisciplinary capabilities include: industrial research consulting services, customer insights, user experience design and innovation expertise, tracking of mobile consumers on devices, and business-to-business consulting skills. With expertise in the following areas: smart devices, connected cars, smart home, service providers, IoT, strategic components and media, Strategy Analytics can develop a solution to meet your specific planning needs. For more information, visit us at www.strategyanalytics.com.
Source: Strategy Analytics, Inc.
For more information on Strategy Analytics
View source version on businesswire.com:https://www.businesswire.com/news/home/20210720005976/en/
CONTACT: Report contacts:
David Watkins, +33 1 57 97 58 23, dwatkins @ strategyanalytics.com
Edouard Bouffenie, +44 1908 423676, ebouffenie @ strategyanalytics.com
KEYWORD: UNITED STATES NORTH AMERICA MASSACHUSETTS
INDUSTRY KEYWORD: HOME GOODS INTERNET MARKETING COMMUNICATIONS CONSUMER ELECTRONICS TECHNOLOGY ONLINE RETAIL DETAIL
SOURCE: Strategic analysis
Copyright Business Wire 2021.
PUB: 07/20/2021 12:09 / DISC: 07/20/2021 12:09
Copyright Business Wire 2021.