The number of households worldwide with an over-the-top video service subscription will exceed 265 million by 2022. The popularity of services like Netflix, Amazon, and Hulu has driven a steady increase in adoption of smart TVs and streaming media players since 2010. The rise of these digital assistants is another key trend over the last few years, with Apple Siri, Amazon Alexa, Google Assistant, Microsoft Cortana, and Samsung Bixby, among others, now on the market. Both smart-home and connected-entertainment developers are working to integrate this functionality into their products.
Consumers now own an average of 8.6 connected consumer electronics products in their home, an 87 percent growth in the average volume of devices since 2010, according to the research firm Parks Associates. With IoT expansion comes added expectations of interoperability.
Consumers prioritize general device interoperability over staying within a specific brand ecosystem when considering a purchase; 3/4th of consumers find it important to consider any smart-home product brand that will work with other products in their home and 49 percent find this very important. Over 265 million households worldwide will have a total of more than 400 million OTT video service subscriptions by the end of 2022.