88 million smart TVs will be shipped worldwide this year, representing around 41.2% of the worldwide LCD TV market, according to Taiwan’s MIC.
Smart TV penetration has exceeded 50% in Japan, thanks to consumers’ adoption of high-end products, says MIC analyst Cindy Gu. Meanwhile, penetration is just below 40% in Western Europe, where broadcasters have deployed open standard platforms like HbbTV. The Chinese market has also expanded quickly, thanks to vendors’ promotions. The country has about a 60% share of the global smart TV market.
By comparison, uptake in the USA has been low, due to the availability of other devices that can be used to access internet TV. These include STBs like the Apple TV and consoles like Microsoft’s Xbox and Sony’s Playstation. Smart TV penetration is still above 30% in the USA, though, as vendors like Samsung and Vizio have integrated these functions into their mainstream models.
Emerging markets have been slow to adopt smart TVs. This is due to both their lower consumption power and an incomplete broadband market. Penetration is around 20% in emerging markets. MIC expects these regions to increase adoption as their broadband infrastructure improves. Meanwhile, brands will continue to make their products more attractive with lower prices and more features.