UK research firm Juniper Research is forecasting that the number of residential TVs connected to the Internet via different platforms such as Blu-ray players, set-top boxes and consoles, and also via built-in wireless or Ethernet connectivity, will reach almost 650mn worldwide by 2017.
Despite TV replacement cycles being longer than those for other tech products such as smartphones, smart TVs have begun to emerge as a mainstream consumer product, according to Juniper, which adds that this growth is being driven by increasing demand from consumers for over-the-top video services such as Netflix, LoveFilm and YouTube.
“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 Nitin Bhas, author of the report.
The Indian subcontinent is expected to account for the lowest proportion of connected TV sets throughout the forecast period, due to the lack of fixed broadband connections. Smart Home revenues meanwhile are predicted to reach almost US$ 60bn by 2017, rising from US$ 25bn this year.