• Russia: smart TV sales growth 2023

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After peaking at 19 percent in 2018 and 2019, sales growth of smart TVs in Russia was expected to gradually slow down. In 2020, the number of sold devices in the region was estimated to grow at a 14 percent rate, dropping further below 12 percent by 2023.

Smart TV market overview

Smart TV is one of the most employed smart devices in Russia to date. This is also reflected in the increased internet penetration of smart TVs in the region. In 2019, nearly 25.5 million smart TVs were sold in Russia, and this figure was forecast to increase further, exceeding 41 million sold devices by 2023. The Russian Smart TV market is highly competitive, and despite the positive trends, the market is expected to suspend its rapid development due to oversaturation.

Smart Homes in Russia

Russia has experienced substantial annual growth in the number of Smart Homes since 2017. The rapidly developing sector generated nearly 800 million U.S. dollars in revenues in 2020 and was projected to reach 2.75 billion U.S. dollars by 2025. The smart appliances segment was by far the most profitable in the market, accounting for the greatest average revenue per home. 