China is now dominating the smart TV market, with over three quarters of television shipments equipped with smart functionality, according to the latest IHS report.
The report, ‘TV Design and Features Tracker’ found that worldwide shipments of smart TVs in 2015 broke the 100 million mark for the first time.
It estimates smart TV shipments will reach 109 million in 2016, rising to 134 million in 2020.
The popularity of Netflix and other services is reinforcing the demand for smart functionality, say IHS.
“Consumers increasingly regard smart functions as essential,” said Paul Gray, principal analyst, IHS Technology.
“The market dynamic has shifted from seeding the market to self-sustaining demand for built-in internet streaming functions.”
Compared with China, North America saw a surge in smart TV shipments from 36 per cent to 48 per cent in 2015.
Europe “appear to have reached a plateau”, say IHS, with small declines in 2015.
“Smart TV will continue to grow at a more gradual rate,” Gray said. “China, the dominant engine of smart TV growth, has little extra room to grow.
“Other developed markets are increasingly saturated, while lack of broadband internet connections remains an issue in emerging regions.”