Global OTT households to reach 265MN by 2022 | OTT | News | Rapid TV News
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The number of households worldwide with an over-the-top video service subscription will exceed 265 million by 2022, according to research firm Parks Associates.

Parks chart 14 june 2018The analyst said in its Global Connected Living Outlook: Expanding IoT Momentum report that 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.

“53% of US broadband households own a smart TV, and both smart TVs and streaming media players are continually improving the user experience to accommodate the shifting habits of consumers, including integration with voice-based digital assistant ecosystems,” noted Kristen Hanich, research analyst at Parks Associates . “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.”

The report also revealed that consumers now own an average of 8.6 connected CE products in their home, an 87% growth in the average volume of devices since 2010.

“With IoT expansion comes added expectations of interoperability,” said Jennifer Kent, director, Research Quality & Product Development, Parks Associates. “Consumers prioritise general device interoperability over staying within a specific brand ecosystem when considering a purchase; three-fourths of consumers find it important to consider any smart-home product brand that will work with other products in their home and 49% find this very important.”

The Global Connected Living Outlook: Expanding IoT Momentum report also found that more than 70% of US broadband households have an internet-connected entertainment device, while 17% own both a smart home device and an internet-connected entertainment device.

Parks Associates estimates over 265 million households worldwide will have a total of more than 400 million OTT video service subscriptions by the end of 2022.