Short-Term Saturation Could Hit Smart TVs After Strong Pandemic Lift: Parks
Smart TV ownership, along with smart speakers/displays and desktop PCs, grew during the COVID-19 pandemic due to higher “perceived value,” said Parks Associates Wednesday. Smart TV adoption is at an all-time high, though there may be some “short-term saturation and…
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conservatism in effect” as buying “settles” after strong increases during the pandemic, said analyst Paul Erickson. Smart TVs and smart speakers/displays have shown “durability in sustaining growth” and are expected to maintain elevated adoption over the next few years, he said. That's notable since "the aggregate trend across categories has been a very gradual decline in overall usage since 2017,” Erickson said. Smart TVs are the entertainment hub for the home, and they offer future integration opportunities for smart home and connected health ecosystems, he said. Despite downturns over the past six months for the top three brands -- Samsung, LG and Vizio -- Sony smart TV purchases grew, likely on release of new Google TV Bravia models; Sony edged Vizio out of third place, said the analyst.