Connected TV Market

Connected TV Market Size

The global connected TV market was estimated at USD 85.4 billion in 2024. The market is expected to grow from USD 93.3 billion in 2025 to USD 186.4 billion in 2034, at a CAGR of 8%.

The increase in demand for connected TVs (CTVs) is attributed to the growth of streaming services including Netflix, Hulu, Amazon Prime Video, and Disney+. More customers are abandoning cable and satellite subscriptions as smart TVs make streaming services available to them. This change in the market has increased the rate of CTVs adoption.

The CTV market is competitive due to the new features included in televisions such as advanced sound systems, HDR specifications, 4K, and even 8K display resolution. These features provide consumers more value and as a result, more customers buy connected televisions with these features. In addition, the streaming of internet content via broadband and fiber optics reshaped the online streaming sector tremendously. Information from the Consumer Technology Association (CTA) shows that over 80% of households in the U.S. have access to broadband internet. This phenomenon has facilitated the rapid increase in CTVs adoption.

Besides, the proliferation of CTVs with varying capabilities has helped woo producers which further enabled better market penetration. There has also been significant increase in the use of smart televisions integrated with home automation tools like Google Home, Amazon Alexa, and Apple Home Kit. Such a blend appeals to gadget-savvy customers who appreciate convenience and integration in overall home automation.

Based on the report's statistics by the Consumer Electronics Association (CEA), during the anticipated timeframe, the smart home sector is projected to expand at a compound annual growth rate (CAGR) of more than 20 percent, in turn boosting the demand for connected televisions. These patterns emphasize the increasing significance of CTVs in contemporary households and their influence on the state of home entertainment in the future.

Connected TV Market Trends

• Voice commands integration through smart home assistants such as Apple Siri, Amazon Alexa and Google Assistant are increasingly embedding TVs into smart homes. This enables a link between multisensory devices in the house for easiness and comfort. The advent of AVOD monetization is being adopted as an alternative approach to revenue funded business models.
  
• There is an increasing user base of Tubi, Pluto TV, and YouTube among people who do not want to spend much. The progress in the technological panels, OLED, QLED and MicroLED, is enhancing the screen as a whole through color reproduction, contrast ratio, brightness and more.
  
•  The addition of 4K and even 8K resolution delivers further enhancement to each viewing experience. With cloud gaming becoming more commonplace, TVs are more common out in the living rooms. Google Stadia and Nvidia GeForce Now, alongside Microsoft Xbox Cloud Gaming, allow the user to shift focus from the consoles to the gaming PCs. Some of the most important concerns are having graphics, latency, and the interface with controllers.
  

Connected TV Market Analysis

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• The connected TV market by product type is segmented into less than 30 inches, 30 inches to 50 inches, 50 inches to 70 inches and above 70 inches.
  
• 30 to 50 inches TVs held the dominant market of USD 35.4 billion in 2024 and is expected to reach USD 80.1 billion by 2034.
  
• This range offers a combination of cost and the level of experience, reasonable enough for living rooms or relatively large sized rooms. This size bracket is appealing to many due to the expanding high-definition range of streaming services that are now accessible, which provide a pleasing balance in terms of cost and indulging content for the viewers.
  

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• The connected TV market by technology is segmented into LED, OLED and others.
  
• The LED segment accounted for a market share of around 60.5% in 2024 and is projected to grow by 2034.
  
• LED technology has the most notable market share because of its low price, energy saving features, and long lifespan. LED TVs are available in all sizes, features, and prices which appeal to a large market base. OLED displays are superior in picture quality because they provide high levels of contrast, deep blacks, and wide viewing angles. OLED TVs are usually priced higher than LEDs making them fall under the more expensive category of CTV market.
  

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• In the U.S., the connected TV market is growing at a rate of 8.3% each year. Consumers in the United States, for example, seem to have a high inclination towards modern appliances. In addition to supporting 4k/8k HDR content, Alexa, Google Assistant and Siri voice control integration in connected TVs makes the devices far more marketable.
  
• Germany is one of the major countries in the European region's market and is growing at a rate of 8.5% each year. Germany holds one of the most significant positions as far as connected Television is concerned in Europe. The development of the connected TV market is aided by Germany’s digitalization drive within the entertainment sector. The adoption of digital and smart home devices is rising. With Germany's booming economy and high purchasing powers, consumers are investing into sophisticated home entertainment systems including large connected TVs.
  
• In China, the market for connected TV is growing at a rate of 8.9% each year. The country has one of the highest rates of internet users and is aggressively rolling out 5G towers which provides the prerequisites for streaming and other forms of connectivity. This increases the demand for connected televisions. The strong presence of domestic streaming services such as iQiyi, Tencent Video, and Youku increases the demand for connected TVs because of the ease of access to these services.
  

Connected TV Market Share

The global connected TV industry is fragmented, with prominent players, such as Samsung Electronics, LG Electronics, Sony Corporation, Vizio Inc., TCL Technology, Hisense Group, Panasonic Corporation, Sharp Corporation holding a market share of 30%-40%.

• In the connected TV market, Samsung has the largest share due to its comprehensive product portfolio.
  
• Samsung has a strong presence within the connected TV sector and has the highest global sales because of holding advanced technology, a large assortment of products, and a positive brand reputation. Its Tizen OS platform is user-friendly and provides access to numerous streaming services as well as applications and AI features designed to increase user interaction with the smart TV. Cloud gaming service is also facilitated on the platform. On the other hand, Samsung continues to cement its positions with trusted superior picture displays by offering QLED and OLED panels.
  

Connected TV Market Companies

Major players operating in the connected TV industry are:

• Amazon
• Apple
• Google
• Hisense Group
• LG Electronics
• Panasonic Corporation
• Philips
• Roku, Inc.
• Samsung Electronics
• Sharp Corporation
• Skyworth Group
• Sony Corporation
• TCL Technology
• Vizio Inc.
• Xiaomi Corporation    
  

Connected TV Industry News

• In August 2023, LG Electronics (LG) displayed the wireless LG SIGNATURE OLED M (model 97M3) TV, during which LG claimed this to be the first wireless OLED TV in the world. This product was introduced in South Korea first, and the company aims to branch into other parts such as North America and Europe.
  
• In August 2023, Xiaomi expanded its market by launching its new range of Smart TV X Pro series in India. The series is available in four screen dimensions of 43, 50, and 55 inches. All screens have 4K resolution LED panels with a pixel dimension of 3840 by 2160. These screens also support Dolby Vision. The devices sport a 98% screen to body ratio and a quad core processor. These TVs also have the PatchWall+ firmware and work with Google TV software. Moreover, all models come with the PatchWall+ interface and operate on Google TV OS.
  
• In April 2023, Xiaomi India provided a new addition to their range by launching three more 4K smart TVs. The range is composed of three models which vary by size: 43 inches, 50 inches, and 55 inches. Compared to the previous X series, the X Pro models enhance the existing features with more colors, greater contrast, saturation, brightness, and wider color gamut.
  
• Roku showcased its first TV set manufactured by the company itself, dubbed Roku Select and Roku Plus Series, in January of 2023. Roku will produce 11 models from 24 to 75 inches, all running an inbuilt version of Rokus operating system. The television sets will be sold in the US from spring 2023.
  

This connected TV market research report includes in-depth coverage of the industry, with estimates & forecasts in terms of revenue (USD Billion) and volume (Thousand units) from 2021 to 2034, for the following segments:

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Market, By Screen Size Type

• Less than 30 inches
• 30 inches to 50 inches
• 50 inches to 70 inches
• Above 70 inches

Market, By Technology

• LED
• OLED
• Others

Market, By Screen Type

• Curved
• Flat

Market, By Resolution

• 8K
• 4K
• 1080p
• Others

Market, By End Use

• Residential
• Commercial

Market, By Distribution Channel

• Online
• Offline

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia 
• Latin America
  • Brazil
  • Mexico 
• MEA
  • Saudi Arabia
  • UAE
  • South Africa