Expanding Reach of Smart TVs... "Over Half of Global Households to Use by 2026"
[Asia Economy Reporter Jeong Hyunjin] As smart TV sales increase in the global TV market, it is expected that by 2026, more than half of households worldwide will be using smart TVs.
On the 21st, market research firm Strategy Analytics (SA) stated in a forecast report that at the end of last year, 34% of households worldwide, or 665 million households, owned smart TVs, and it is expected that by 2026, this proportion will reach 51%, with the number of households at 1.1 billion. According to SA, last year’s smart TV shipments increased by 7.4% year-on-year to 186 million units, accounting for 79% of the total flat-panel TV market. Next year, smart TV shipments are expected to exceed 200 million units.
By region, North America showed the most remarkable growth. It is expected that nearly all households in North America will be using smart TVs by 2026. This is followed by Western Europe, South America, Central and Eastern Europe, Asia-Pacific, and the Middle East and Africa in terms of smart TV adoption. SA explained, "(In North America) government stimulus measures allowed consumers, who spent more time at home due to COVID-19 restrictions, to increase spending on home entertainment."
The TV manufacturer with the highest smart TV sales last year was Samsung Electronics, marking its ninth consecutive year in first place. Chinese company TCL took second place, surpassing LG Electronics for the first time, according to SA. The combined market share of Samsung Electronics, TCL, and LG Electronics was reported to exceed 40% of the smart TV market.
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Edouard Bouffard, Senior Analyst for Connected Home Devices at SA, said, "Smart TVs are the most common type of flat-panel TV today, and households with older TVs will gradually replace them with smart TVs," adding, "Smart features can no longer be a differentiating factor, so smart TV manufacturers are maintaining their own software and application ecosystems or partnering with others to create software platforms."
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