US Smart TV Penetration (2021–2024)
The advancement of technology has brought about the rising integration of internet connectivity in consumers’ everyday lives. Among these advancements, smart TVs have enjoyed significant growth, as they transform the way we consume entertainment.
In this article, we delve into the rise of smart TV penetration in the United States in recent years and look at what’s driving this growing trend.
What is a smart TV?
A smart TV is a television set with integrated internet capabilities, allowing users to stream content directly from the internet, access apps, browse the web, and connect to various smart home devices. Unlike traditional TVs, smart TVs eliminate the need for additional streaming devices.
US smart TV penetration rates: Table
|
Year |
Percentage of US population owning a smart TV |
|
2021 |
61% |
|
2022 |
62% |
|
2023 |
70% |
|
2024 |
72% |
US smart TV penetration: 2021–2023
A recent study shows that from 2021 to 2023, smart TV penetration in the US saw a steady increase. In 2021, the penetration rate was 61%, representing just over three in five consumers, before rising slightly to 62% the following year.
In 2023, there was a significant jump, with smart TV penetration reaching 70%. This surge can be attributed to the increasing availability of affordable smart TVs and the continuous improvement in internet infrastructure across the country.
US smart TV penetration in 2024
Experts estimate that smart TV penetration in the US is projected to reach 72% in 2024, translating to approximately 207 million users and underscoring the increasing popularity and accessibility of smart TVs.
According to analysts, the growing smart TV penetration in the US can be attributed to several key factors:
- Enhanced connectivity: Improved internet speeds and broader availability of high-speed internet have incentivized US consumers to adopt smart TVs.
- Diverse content offerings: The rise of streaming services and exclusive online content has driven consumers toward smart TVs, which provide easy access to these platforms.
- Seamless integration with other smart home devices: Smart TVs are becoming central hubs in smart home ecosystems, allowing users to control various devices through their TV screens.
Rising TV revenues in the US
The growing smart TV penetration in the US parallels the rise in the country’s television revenues. In 2021, television revenue was $17.35 billion. This figure has risen consistently over the past few years and is anticipated to reach $18.19 billion in 2024. The upward trend is expected to continue, with projections estimating revenues of $18.76 billion by 2028.
This steady growth in revenue highlights the resilience and adaptability of the television industry in the face of changing consumer habits. The integration of smart technology into television sets has not only sustained but also expanded the market, attracting a broader audience and driving higher sales.