Smart TV market will usher in huge development opportunities in Latin America

The smart TV market has ushered in huge development opportunities in Latin America. According to media market research company Dataxis, by the end of 2020, the number of smart TV installations in Latin America will reach 111 million, accounting for 41.4% of the total number of TV devices in the region.

There are many reasons for the rapid growth of the smart TV market in Latin America. Since 2016, Internet access has become a basic feature of most TV devices sold. In addition, in some developing countries, such as Brazil and Mexico, the replacement rate of TV sets has gradually accelerated due to the gradual disappearance of free analog TV services, and people have to switch to new TV reception devices.

Another powerful driving force behind the rapid development of the smart TV market is the continuous advancement of OTT services. Dataxis predicts that by the end of this year, the number of households using SVoD (subscription video on demand) OTT products is expected to reach 109.4 million. The growth of OTT services has led to 76% of smart TVs being effectively connected to the Internet.

Dataxis estimates that by the end of 2019, there were 7.2 million streaming media player devices in Latin America. Google's Chromecast has become the most popular streaming media player device in the region, accounting for 65% of the local market. In addition, as an alternative product, Android TV's supporting dongles and set-top boxes have also occupied 26% of the market. As a supplement to pirated pay TV, Android TV is currently the fastest growing streaming media alternative.