Global Smart TV ownership is projected to rise from 34% to 51% by 2026, from 665 million to 1.1 billion homes, according to a report by Strategy Analytics.
Smart TVs on the rise
Streaming video is already a booming business but it could become even bigger in the coming years as Smart TV ownership is projected to rise in all regions across the world.
- "More than 665 million homes worldwide owned a Smart TV by the end of 2020. This equates to 34% of global households, a figure that is set to rise to 51% by 2026 when Smart TV ownership will reach 1.1 billion homes. Sales of Smart TVs grew by 7.4% in 2020 to reach 186 million units, accounting for 79% of all flat panel TVs sold," the report from Strategy Analytics said.
By 2026, Smart TV ownership is expected to exceed 90% in North America, 80% in Western Europe, 60% in Central and Latin America, and 50% globally. The figures do not include streaming players such as Apple TV, Chromecast, and Roku.
Samsung in the lead
The report noted that Samsung's Tizen is the leading Smart TV platform but that TV platforms such as Android TV and Roku have "made strong gains in recent years".
The top four Smart TV platforms account for over 50% of sales, up from 33% in 2015.
- "As smart functionality is no longer a point of differentiation but has become a check box necessity, smart TV manufacturers have had to make a choice between maintaining their own software and application ecosystems or licensing a software platform from a third-party partner. While many have decided to partner with the likes of 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 fast growing Connected TV advertising business," said Edouard Bouffenie, Senior Analyst.
- Source: Strategy Analytics