Over one billion consumer video devices shipped in 2012

1.2 billion consumer video devices totalling over $360 billion were shipped in the US last year, according to a report carried out by research firm Frost & Sullivan.

The ‘Analysis of the Consumer Video Devices Market’ report revealed that smartphones currently account for almost half of total market units and will continue to push market expansion, with the adoption of tablets and Smart TVs also adding significantly to the overall growth.

By 2017, the research forecasts that device sales will surpass three billion.

“Consumer appetite for online and personalised content, including both on-demand and live TV, anytime and on multiple screens simultaneously, is going to remain the number one driver of the consumer video devices market,” said Frost & Sullivan digital media industry manager Avni Rambhia.

Despite internet video disrupting the Pay TV industry once, Rambhia says that the wide range of consumer video devices, such as Blu-ray players, games consoles, set-top boxes and smart devices, are forcing a “remolding” of business models across the board.

Rambhia added that a personalised, convenient and intuitive user experience is vital to achieving service popularity, and that vendors who craft compelling services that are consistently available across all major devices will find that users are willing to pay for such experiences.

“A strategy that straddles both price and feature sets is most likely to succeed in the long term,” she says.