The global installed base of connected TV devices has now passed one billion and will double over the next five years to exceed two billion units by 2018, according to new research.
StrategyAnalytics’ ‘Connected CE Devices Market Forecast: Global 2009-2018’ claims that global households own an average of 2.8 connected CE devices with the US having the highest levels of ownership at 7.7 devices.
It also predicts that global retail spend on Consumer Electronics products will exceed US$1 trillion (€735 billion) for the first time in 2017.
“On a global scale, IP-enabled flat panel TVs are the most common Connected TV device in living rooms today, occupying close to 30% of the installed base of such devices, a figure that is set to rise towards 50% by 2018,” said StrategyAnalytics connected home devices analyst, Eric Smith.
“However, that is not to say that IP-enabled TVs will necessarily become the default device that consumers use to access OTT content as there will continue to be various device options available to consumers.”
StrategyAnalytics includes smart TVs, games consoles, Blu-ray players, digital media adapters and set-top boxes in its definition of connected TV devices, and said that average global retail spend per household on all consumer electronics (CE) products grew 2.9% in 2013 reaching US$485.
It also noted that IP-enabled CE devices accounted for 87% of all CE devices shipped in 2013.
“The growth in ownership of Connected TV devices is having a profound effect on the way in which people access and consume media content on the TV set. Furthermore they are helping to provide opportunities for companies outside of the traditional TV industry such as Google, Apple and Amazon to compete for a share of the TV audience,” said David Watkins, service director for StrategyAnalytics’ connected home devices division.