Internet connectable devices will account for 70% of revenues of Consumer Electronic (CE) industry in 2011, according to a study from the Strategy Analytics Connected Home Devices (CHD) service.
Connected TVs represent one of the biggest growth opportunities over the next five years as major vendors, such as Samsung, LG and Sony, push their Smart TV initiatives, according to the report, ‘Global Connected Consumer Electronics (CE) Devices Market Forecast.’
Worldwide connected TV device revenues will surpass $95bn in 2015, representing more than 25% of the overall connected device market.
Strategy Analytics director Peter King said while connected flat panel TVs, set-top boxes and DVRs still represent a small portion of their respective product segments, 68% of all CE devices sold this year will be connectable to the Internet.
Digital Consumer Practice senior analyst Jia Wu said 67% of all FPTV units sold in 2015 will be Connected TVs.
"This represents a 38% compound annual growth rate over the next five years. Although growth in the overall TV market will be modest, the market value of connected TVs will more than double during the same period," Wu said.
