SCOTTSDALE, AZ -Â A growing set of consumer electronics (CE) devices, ranging from Web-enabled TVs to Blu-ray players and over-the-top set-top boxes, support TV widgets. Â These TV applications enable users to view YouTube videos, access Netflix, or obtain weather forecasts directly on the TV using a broadband Internet connection. The rapid growth of Web-enabled CE devices, which market research firm In-Stat projects will reach 83.4 million by 2014, is the foundation of a vibrant TV widget market.
“Consumers want new and unique TV functionality,” says Keith Nissen, In-Stat analyst.Â “For example, there is strong interest for TV widgets that let the viewer control the camera angle being displayed on screen.”
Other research findings include:
- By 2013, TV applications have the potential to generate more than $1.7 billion in annual revenue.
- Households with adults under 40 years of age have the highest interest in using TV widgets.
- Screen control, news and entertainment information have broad appeal across all age groups.
- Certain TV widgets, such as multisession games, are highly valued by small user segments.Â These represent a significant revenue opportunity.
- There is substantial interest in TV widgets that enable local online purchases, such as pizza delivery or movie tickets.
- Viewing YouTube videos on the TV is favored only by households in the 18-24 age group.