Global Shipments of Smart TVs Poised to Make a Slow Recovery, According to IDC

Worldwide smart TV shipments are on track to decline 5.5% year over year in 2023, according to the International Data Corporation (IDC) Worldwide Quarterly Smart Home Device Tracker. However, the market is expected to recover with flat growth forecast in 2024 followed by slow growth in the following years. Global shipments are forecast to achieve a compound annual growth rate (CAGR) of 3.3% over the 2023-2027 forecast period.

"With the backdrop of high inflation and long refresh cycles, much of the growth with the smart TV market is relegated to emerging markets," said Jitesh Ubrani, research manager for IDC's Mobility and Consumer Device Trackers. "However, within mature markets, TVs are quickly transitioning from media consumption screens to ecosystem gateways, enticing brands such as Amazon, Roku, and others to compete on price while providing meaningful features that integrate with the broader smart home."

"Weak consumer demand in places like North America has put significant downward pressure on shipments in 2023, which is likely to persist into most of 2024," said Adam Wright, research manager, Smart Home and Office Devices at IDC. "Many vendors expect that persistent economic headwinds will continue to hamper the market through the first half of next year, but for now are relying on sales of premium televisions to help buoy their bottom lines. Whether that strategy is sustainable long-term remains to be seen."

* Table Note: All values are forecast estimates.

IDC's Worldwide Quarterly Smart Home Device Tracker provides insightful analysis, quarterly market share data, and a five-year forecast for the smart home device market.

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For more information about IDC's Worldwide Smart Home Device Tracker, please contact Jackie Kliem at 508-988-7984 and jkliem@idc.com.

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International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,300 analysts worldwide, IDC offers global, regional, and local expertise on technology, IT benchmarking and sourcing, and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a wholly owned subsidiary of International Data Group (IDG), the world's leading tech media, data, and marketing services company. To learn more about IDC, please visit www.idc.com. Follow IDC on Twitter at @IDC and LinkedIn. Subscribe to the IDC Blog for industry news and insights.

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Worldwide smart TV shipments are on track to decline 5.5% year over year in 2023 but are forecast to recover slowly over the next several years, according to the IDC Worldwide Quarterly Smart Home Device Tracker.