USD 85.4 billion
Report ID:
SQMIG25E2166 |
Region:
Global |
Published Date: March, 2025
Pages:
192
|Tables:
94
|Figures:
71
Connected TV Market size was valued at USD 85.4 billion in 2023 and is poised to grow from USD 92.23 billion in 2024 to USD 170.71 billion by 2032, growing at a CAGR of 8.0% during the forecast period (2025-2032).
The fast-growing over-the-top (OTT) streaming services like Netflix, Amazon Prime Video, Disney+, and YouTube are the key drivers in the connected TV market. There is a greater preference among customers for flexible and on-demand content as opposed to traditional broadcasting, and this factors the demand for smart TVs that come with hassle-free internet connectivity and high-definition streaming.
The global connected TV market is seeing explosive growth because of swift digitalization, the expansion of high-speed internet, and changing consumer preferences towards on-demand content. Connected TVs or smart TVs incorporate internet connectivity, where consumers can have access to streaming platforms, web browsing, social media, and gaming applications right from their TV sets. The transition from traditional cable and satellite TV to over-the-top (OTT) streaming services has greatly driven market growth, as customers increasingly prefer subscription-based, ad-supported, and personalized video content.
In addition, the development of display technologies like 4K, 8K, OLED, and QLED is improving viewing quality, and smart TVs are becoming increasingly desirable to consumers. Increased AI-based voice assistant penetration, including Amazon Alexa, Google Assistant, and Apple Siri, further enriches smart TV features, enhancing user experience through voice-controlled operation. Also pushing the uptake is the infusion of AI-driven suggestion, personal marketing, and in-real-time content analysis to lift user experience and drive adoption of connected TV devices. There is also emerging very strong demand underpinned by the uptake of Internet of Things (IoT) technology driving easy connect-and-play experiences from smart TV boxes to other connected home appliances.
Additionally, increased investment from manufacturers in partnerships with content providers, telecom companies, and streaming platforms is strengthening the ecosystem for smart TV content delivery. Emerging technologies like cloud gaming, social networking integration, and interactive commercials further define the connected TV future by turning it into a multi-tasking entertainment hub. Cybersecurity risks, huge upfront prices, and uneven distribution of internet networks across different geographies can restrain market growth, though. Nevertheless, ongoing technological advancements, increasing consumer knowledge, and competitive pricing will be anticipated to maintain the global connected TV market's upward path in the forthcoming years.
Key Market Attributes
Guggenheim analyst Michael Morris hypothesized, in December 2024, a possible The Trade Desk and Roku merger based on The Trade Desk's launch of Ventura, a new connected TV operating system. The theoretical merger would bring together The Trade Desk's sophisticated advertising technology with Roku's enormous streaming platform to form a more formidable competitor to industry giants Amazon and Alphabet. If achieved, this action would be able to hasten advancements in programmatic advertising, personalized content streaming, and ad-supported streaming models and transform the connected TV space considerably in the next 4-5 years. The speculation alone highlights the market’s rapid evolution and consolidation trends.
In August 2023, AppLovin Corporation expanded its presence in the connected TV market with the $430 million acquisition of Wurl, a company specializing in content distribution and monetization for smart TVs. This deal is AppLovin's strategic move beyond mobile advertising, bringing Wurl's technology to bring performance marketing to the connected TV realm. Through Wurl's large network, AppLovin seeks to revolutionize advertising strategy, deepen audience targeting, and maximize content monetization for publishers. Over the next 4-5 years, this move is expected to drive greater adoption of AI-powered, data-driven advertising models in connected TV, benefiting both advertisers and content providers.
In August 2023, LG Electronics unveiled the LG SIGNATURE OLED M (model 97M3), the world's first wireless OLED TV. Initially rolling out in South Korea, LG intends to expand this revolutionary technology to strategic markets, such as North America and Europe. The 97-inch screen has no conventional cables but uses an additional Zero Connect box to deliver video and audio signals wirelessly. This breakthrough has the potential to revolutionize home entertainment systems by providing unmatched flexibility and style. During the coming 10 years, these advances are likely to shape industry norms, compelling competitors to start making comparable wireless display technology.
In September 2024, Amazon announced plans to increase advertisements on its Prime Video platform starting the following year. Following an initial fear of subscriber outrage, Amazon saw no material decline in subscriptions since opening up to advertising eight months earlier. The move is designed to entice even more brands through the provision of extra ad slots and the unveiling of interactive, "shoppable" ads where viewers can connect with products on their screens themselves. With global ad reach around 200 million potential viewers a month, this move is all set to change the face of streaming. In the course of the next decade, the adoption of interactive advertising is expected to be a universal feature among streaming services, raising viewership interaction and opening new avenues of revenue.
Market snapshot - 2025-2032
Global Market Size
USD 85.4 billion
Largest Segment
OLED
Fastest Growth
LCD
Growth Rate
8.0% CAGR
To get more reports on the above market click here to Buy The Report
Global Connected TV Market is segmented by Screen Size, Technology, Screen Type, Resolution, Operating System, Connectivity Features, Smart Features, Distribution Channel, End-Use and region. Based on Screen Size, the market is segmented into < 40 inches, 40-48 inches, 48-55 inches and > 55 inches. Based on Technology, the market is segmented into LCD, OLED and QLED. Based on Screen Type, the market is segmented into Flat and Curved. Based on Resolution, the market is segmented into HD, Full HD, 4K and 8K. Based on Operating System, the market is segmented into Android TV, Tizen OS, webOS, Fire TV OS and Roku OS. Based on Connectivity Features, the market is segmented into Wi-Fi, Bluetooth, Ethernet, HDMI and USB. Based on Smart Features, the market is segmented into Voice Control, Gesture Control, Content Streaming, Gaming and Smart Home Integration. Based on Distribution Channel, the market is segmented into Online and Offline. Based on End-Use, the market is segmented into Residential and Commercial. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Analysis by Panel Type
As per categorization by panel type, the market is classified as LCD, OLED, and QLED. Among these, OLED earned the largest share and continues to hold the dominant global connected TV market share. OLED technology is transforming the global connected TV market with its high-quality display, blacks, and power efficiency. Major brands like LG, Sony, and Samsung are advancing OLED innovation with wireless OLED TVs, flexible panels, and AI-enhanced displays. OLED dominates due to its self-emissive pixels, which provide unmatched contrast, vibrant colors, and ultra-thin designs. As consumer demand for premium, immersive viewing experiences grows, OLED remains the top choice for high-end smart TVs, shaping the market’s future.
LCD panel technology is set to be the fastest-growing segment in the global connected TV market due to its cost-effectiveness, scalability, and continuous advancements. As Mini-LED and QLED technologies emerged, LCDs are now providing better contrast, brightness, and energy efficiency at competitive levels compared to OLEDs while being affordable. Original equipment manufacturers such as Samsung, TCL, and Hisense are aggressively pushing high-resolution 4K and 8K LCD smart TVs at reasonable price points for consumers. Moreover, the prevalence of ad-supported streaming platforms and smart TV integration is fueling demand for low-cost, high-performance LCD TVs, which guarantees long-term market growth and affordability.
Analysis by Connectivity Features
Wi-Fi connectivity is a core innovation in the global connected TV market, enabling seamless streaming, smart home integration, and interactive entertainment. As Wi-Fi 6 and 6E take off, smart TVs are now supporting quicker speeds, less latency, and improved multi-device connectivity, facilitating improved 4K/8K streaming and cloud gaming. Samsung, LG, and Sony incorporate AI-driven Wi-Fi optimization to ensure smoother performance. Wi-Fi is the clear winner with its wire-free installation, wide compatibility, and growing use in smart homes, rendering Ethernet obsolete. As IoT ecosystems and streaming grow, Wi-Fi smart TVs will keep fueling market expansion and consumer convenience.
Ethernet connectivity is poised to be the fastest-growing feature in the global connected TV market due to its superior stability, high-speed data transfer, and low latency compared to Wi-Fi. With the advent of Wi-Fi 6 and 6E, smart TVs today provide faster speeds, reduced latency, and improved multi-device connectivity, which boosts 4K/8K streaming and cloud gaming. Major brands like Sony, Samsung, and LG are enhancing Gigabit Ethernet ports to support data-intensive content. As more consumers demand uninterrupted, high-quality streaming experiences, especially in smart homes and gaming setups, Ethernet’s reliability and security advantages will drive its rapid adoption in next generation connected TVs worldwide.
To get detailed analysis on other segments, Request For Free Sample Report
New America is at the forefront of the global connected TV market with high smart TV penetration, robust broadband infrastructure, and a thriving streaming sector. The U.S. and Canada are powering innovation through AI-driven content, ad-supported models for streaming, and next-generation display technologies to ensure continued leadership in the market in the region.
The U.S. leads the way due to its mass consumer base, robust streaming platform (Netflix, Hulu, Amazon Prime), and fast-paced advancements in AI-driven content suggestions. With growing support for ad-sponsored streaming and the next-generation of display innovations, the U.S. continues to drive the connected TV market, setting the stage for its future worldwide direction.
Europe is the region with the most rapid growth in the global connected TV market on account of accelerating smart TV penetration, robust 5G rollout, and heightened demand for ad-supported streaming services. Germany, the UK, and France are driving innovation through sophisticated display technology, AI content, and digital transformation support by regulatory frameworks.
Germany dominates Europe’s connected TV market due to strong consumer demand for smart home integration, advanced broadband infrastructure, and a thriving streaming ecosystem. With major players like Samsung, LG, and local broadcasters investing in digital platforms, Germany is driving the region’s rapid adoption of smart, AI-powered, and high-resolution connected TVs.
Asia-Pacific is a growing region in the global connected TV market due to fast-paced urbanization, rising disposable incomes, and large-scale adaptation of smart home technologies. China, India, and Japan are spearheading with low-cost smart TVs, 5G rollout, and AI-driven streaming platforms. The growth is also being driven by heightened OTT platform penetration and official support for digital infrastructure, and hence Asia-Pacific is a high-growth marketplace for connected TV innovations.
The Middle East & Africa is experiencing steady growth in the connected TV market, driven by rising internet penetration, increasing smartphone connectivity, and growing demand for digital entertainment. Countries such as Saudi Arabia, the UAE, and South Africa are spearheading smart city projects, 5G rollouts, and higher adoption of OTT platforms. With streaming services and cheap smart TVs taking off, the region is poised to become an important emerging market for connected TVs.
South America is experiencing robust connected TV market growth driven by increasing digital adoption, enhanced broadband infrastructure, and growing demand for streaming content. Nations such as Brazil, Argentina, and Colombia are at the forefront with value-smart TV offerings, OTT platform growth, and digital transformation government policies. With internet penetration and mobile connectivity set to grow further, South America will be a vital connected TV adoption and innovation market in the years to come.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Connected TV Market Drivers
Increasing Adoption of Streaming Services
Advancements in Display Technologies
Connected TV Market Restraints
Limited Internet Connectivity in Developing Regions
Fragmentation in Smart TV Operating Systems
Request Free Customization of this report to help us to meet your business objectives.
The global connected TV market is intensely competitive, and top players concentrate on innovation, AI-based features, and high-end display technology. The prominent players are Samsung, LG, Sony, TCL, and Hisense, who are selling OLED, QLED, and 8K TVs with high-end smart features. Other streaming titans such as Amazon (Fire TV), Google (Android TV), and Roku are also influencing competition. Strategic collaborations, content bundling, and AI-driven user experiences are some of the main drivers determining the future development of this market.
Top Player’s Company Profiles
Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the global connected TV industry is on a dynamic growth trajectory, fueled by the increasing adoption of streaming services, AI-driven smart features, and next-generation display technologies. The shift from conventional broadcasting to on-demand, personalized content continues to redefine consumer tastes, with technological advancements like OLED, AI-driven recommendations, and cloud gaming fueling market growth.
Furthermore, strategic acquisitions and investments like those of The Trade Desk with Roku reflect the quick consolidation in the industry. Although cybersecurity vulnerabilities and infrastructure inequalities present challenges, innovations in smart connectivity, interactive advertising, and IoT integration promise continued market evolution. With growth in regional markets in Asia-Pacific, Europe, and South America, the connected TV future looks to be even more innovative, richer in user experience, and universally accessible.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 85.4 billion |
Market size value in 2032 | USD 170.71 billion |
Growth Rate | 8.0% |
Base year | 2024 |
Forecast period | 2025-2032 |
Forecast Unit (Value) | USD Billion |
Segments covered |
|
Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
|
Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the Connected TV Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Connected TV Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Connected TV Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Connected TV Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Connected TV Market size was valued at USD 247.66 Billion in 2023 poised to grow from USD 285.38 Billion in 2024 to USD 887.04 Billion by 2032, growing at a CAGR of 15.23% in the forecast period (2025-2032).
The global connected TV market is intensely competitive, and top players concentrate on innovation, AI-based features, and high-end display technology. The prominent players are Samsung, LG, Sony, TCL, and Hisense, who are selling OLED, QLED, and 8K TVs with high-end smart features. Other streaming titans such as Amazon (Fire TV), Google (Android TV), and Roku are also influencing competition. Strategic collaborations, content bundling, and AI-driven user experiences are some of the main drivers determining the future development of this market. 'Samsung Electronics (South Korea)', 'LG Electronics (South Korea)', 'Sony Corporation (Japan)', 'TCL Technology (China)', 'Hisense Group (China)', 'Panasonic Corporation (Japan)', 'Vizio Inc. (USA)', 'Philips (Netherlands)', 'Sharp Corporation (Japan)', 'Skyworth Group (China)', 'Haier Group (China)', 'Amazon (Fire TV) (USA)', 'Google (Android TV) (USA)', 'Apple Inc. (Apple TV) (USA)', 'Roku Inc. (USA)'
The sudden growth of OTT services such as Netflix, Disney+, and Amazon Prime is a key driver of the global connected TV market growth. Customers are abandoning traditional cable to move toward ad-supported, subscription-based, and on-demand streaming, making requirements for built-in Wi-Fi in smart TVs, high-resolution panels, and harmonious content aggregation.
Surge in Ad-Supported Streaming Services: Rising popularity of AVOD platforms is transforming the global connected TV market trends. Industry leaders such as Roku, Amazon, and YouTube are scaling up their ad-supported free content, which draws more viewers and advertisers. The trend is leading to increased ad revenues and forcing content providers to implement hybrid monetization strategies by blending subscription-based (SVOD) and ad-supported offerings to achieve maximum audience reach.
New America is at the forefront of the global connected TV market with high smart TV penetration, robust broadband infrastructure, and a thriving streaming sector. The U.S. and Canada are powering innovation through AI-driven content, ad-supported models for streaming, and next-generation display technologies to ensure continued leadership in the market in the region.
Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
Feedback From Our Clients
Report ID: SQMIG25E2166
[email protected]
USA +1 351-333-4748