Continuing this week’s insights around smart home entertainment, today’s chart explores the opportunity for marketers to sell ‘smart’ to TV Buyers.
These consumers are already enthusiastic about smart entertainment products; 4 in 10 say that they plan to purchase a smart home entertainment product in the next 6 months (a smart TV or wireless speakers), putting this audience 61% ahead of the global average for this figure. This suggests that some of this audience are clearly convinced by the benefits of ‘smart’, but that many are also in the market for entertainment add-ons, too.
In line with global ownership trends, it’s only a third of TV Buyers who currently own a smart TV, with those in Latin America the most likely to do so. Far less have invested in TV streaming sticks, but these devices have achieved greater figures in North America – most likely pushed by the success of Roku and Apple TV in the region.
The success of this type of device in North America highlights its market potential. There is an opportunity for streaming devices to push into other regions, especially as an alternative for those who may not be able to afford the jump to a smart TV.
With all of these consumers at least planning to purchase a flat-screen TV in the next 6 months, there is a big potential market for TV manufacturers to convince TV Buyers to make the transition into the ‘smart sphere’ with their future purchase.
The smart TV market is sure to expand even further in the coming years; price points will continue to fall as technology advances which will likely motivate growth in ownership globally. And, as online TV rises in popularity, we could see an increasing demand to watch these services on TVs that offer far bigger screens than other digital devices – a functionality also offered by TV streaming sticks.
TV Buyers are defined as internet users aged 16-64 who say they are planning to purchase a flat-screen TV within the next six months.