Internet connected TVs to reach 650 million by 2017
Smart TVs are quickly becoming a mainstream product with Juniper Research predicting more than 650 million connected televisions worldwide by 2017.
The number of residential TVs which are connected directly to the internet wirelessly or on wi-fi or through a Blu-ray player, set-top box or gaming console will see strong growth in the next five years.
Juniper Research’s report sees the uptake of smart TVs following the same trajectory as smartphone and tablet adoption despite the fact that replacement cycles of TVs are a lot longer than mobile devices.
The report finds the demand for content will be another factor that will increase demand for smart TVs.
New video content services are continually being added to the latest smart TV offerings to meet the rising consumer demand.
Content aggregators have already emerged including Quickflix and Netflix along with platform providers like Apple and Google also coming to the table.
And that’s for good reason – smart TV revenues will exceed $60b by 2017 – up from the current $25b this year according to Juniper Research’s figures.
Report author Nitin Bhas says that while the cost of these connected devices will fall over the forecast period – the value of connectivity will rise.
“The consumer electronics industry along with key players, such as the content aggregators and platform providers, needs to clearly define this device ecosystem and start working towards driving this phase of growth and turn it into a revenue opportunity,” said Bhas.