Connected TV Market Size

Connected TV Market Size

Connected TV Market was valued at USD 78.2 billion in 2023 and is estimated to grow at a CAGR of 9.5% during the forecast period. The rise of streaming platforms like Netflix, Hulu, Amazon Prime Video, and Disney+ has significantly increased demand for connected TVs, which provide easy access to these services. Many consumers are moving away from traditional cable and satellite TV subscriptions in favor of streaming services, driving demand for smart TVs that support these platforms.

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Improvements in TV technology, including higher resolution displays (4K, 8K), better HDR capabilities, and enhanced sound systems, make connected TVs more attractive to consumers. Increased access to high-speed internet, including broadband and fiber-optic connections, supports the use of connected TVs for streaming and other online services. A broad range of price points and features allows consumers to find connected TVs that fit their budget and preferences, increasing market penetration. Connected TVs that integrate with smart home systems (like Google Home, Amazon Alexa, and Apple HomeKit) appeal to consumers looking for cohesive and convenient home automation solutions which drives the demand for these Tvs.

With numerous streaming services available, consumers may find it difficult to access all their desired content on a single platform. This fragmentation can lead to frustration and decreased user satisfaction. The performance of connected TVs heavily relies on a stable and high-speed internet connection. In regions with poor internet infrastructure, this can limit the functionality and appeal of connected TVs.