Smart TV revenue is expected to more than double in the decade from 2015 to 2025, growing from around 30 billion U.S. Dollars in 2015 to around 67 billion in 2025. The two largest brands in the smart TV market are Samsung and Vizio, which together account for over 60 percent of the smart TV market share among Wi-Fi enabled households in the United States. Internet enabled TV devices are the third most popular connected consumer device in the United States in terms of installed base, trailing only smartphones and portable wireless speakers.
The worldwide smart TV penetration rate is projected to grow from 11.5 percent in 2013 to a staggering 32 percent in just six years. Over 150 million Americans used connected TVs as of 2016, a number which is expected to increase to nearly 200 million by 2021. Similarly impressive growth is projected in the smart TV market in the United States with domestic smart TV users expected to grow from 62 million in 2016 to 114 million in 2021. Many consumers have begun to use their smart and/or connected TVs in unison with their other smart devices, showing that connectivity and compatibility are becoming crucial aspects the industry. Over 58 percent of consumers within the United States have used their voice assistant to control their television.