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Connected TV Market Analysis

  • Report ID: GMI5879
  • Published Date: May 2023
  • Report Format: PDF

Connected TV Market Analysis

Based on screen size, the connected TV market is segmented into less than 30 inches, 30 inches to 50 inches, 50 inches to 70 inches, and above 70 inches. The 50 inches to 70 inches segment held a market value of over USD 35 billion in 2022 as more people bought larger TVs to enjoy films in a theater-like setting. The screen size-to-price value for consumers is driving the segment growth. The demand for full HD & 4K connected TVs is rising as the prices are falling. Customers can now buy larger TVs due to advantageous payment options such as EMIs and credit card payments.

Global Connected TV Market Revenue, By End-use, 2021 – 2032, (USD Billion)

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Based on end use, the connected TV market is segmented into entertainment, education, home use, and others. The home/residential  segment held a market share of around 35% in 2022 and is expected to ship around 100 million units by 2032. The industry is extensively used in the home use segment as it offers a range of benefits and entertainment options to consumers. Connected TVs often have personalized content recommendations and user profiles, thereby catering to the preferences and viewing histories of each household member. This enhances the user experience by providing relevant & tailored content suggestions.

Global Connected TV Market Volume Share, by Technology, 2022

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Based on technology, the connected TV market is segmented into LED and OLED. The LED segment held a dominant market share in terms of volume in 2022 and is anticipated to grow at a CAGR of over 5% by 2032. LED technological advancements have resulted in the development of various types of LED displays such as OLED and QLED. These technologies are energy-efficient and widely used in commercial displays by manufacturers. Mini-LED and micro-LED are two other emerging LED technologies. Although mini-LED and micro-LED are relatively new technologies yet to penetrate the global market, they are expected to grow in the coming years.

China Connected TV Market Size, 2020 – 2032, (USD Billion)

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Asia Pacific is the dominant region in the global connected TV market, with over 30% share in 2022. The increasing net disposable income of Asian consumers has played a significant role in the demand for smart TVs. Furthermore, the growing popularity of OTT platforms, such as Amazon Prime Video, Netflix, and HOOQ, in this region is driving market growth. Furthermore, the rising internet penetration is driving smart TV sales, further fueling market growth. The households in India are undergoing a transition, and there is a growing preference for smart TV sets over traditional TV sets. The changing lifestyles of the middle-income population can be attributed to rising income levels, increased awareness, the adoption of new technologies, and increased internet penetration.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

Market size for connected TV was valued at over USD 80 billion in 2022 and is anticipated to record a CAGR of over 6% between 2023 and 2032, on account of the rising demand for enhanced viewing experiences on Over-The-Top (OTT) services, along with advanced features on smart TVs including voice control, screen mirroring & sharing, and video calling.

The 50 inches to 70 inches segment held a market value of over USD 35 billion in 2022, backed by the consumer preference for larger TVs for theater-like feeling, demand for full HD & 4K TVs, and availability of flexible payment options such as EMIs and credit card.

Asia Pacific held over 30% share in global connected TV market in 2022 and will showcase similar growth trend over 2023 to 2032, owing to increasing net disposable income of Asian consumers, growing popularity of OTT platforms, and rising internet penetration.

Philips N.V., LG Electronics, Panasonic Corporation, Samsung Electronics Co. Ltd., Sharp Corporation, Hisense International, Sony Corporation, TCL Corporation, Vizio Inc., and Xiaomi Corporation.

Connected TV Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 15
  • Tables & Figures: 668
  • Countries covered: 17
  • Pages: 250
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