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Connected TV Market Size

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

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Connected TV Market Size

Connected TV Market size was valued at over USD 80 billion in 2022 and is anticipated to grow at a CAGR of over 6% between 2023 and 2032.

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The rising demand for enhanced viewing experiences on Over-The-Top (OTT) services has propelled the connected TV industry expansion. Several TV content producers are constantly releasing new materials in a variety of genres to cater to the needs of viewers and are striving to establish exclusive partnerships with various OTT platforms. Leading streaming services including Amazon Prime, Netflix, and Disney Plus have created tailored applications for smart TVs, making it convenient for users. Furthermore, advanced features on smart TVs including voice control, screen mirroring & sharing, and video calling enhance user experience, increasing their demand.

Connected smart TVs are responsible for transforming the television industry by providing a wide range of innovative features through internet-connected services that traditional CRT televisions do not provide. These smart TVs include Wi-Fi or an Ethernet port, allowing users to stay connected to the internet.

Connected TVs, linked to other connected devices, are vulnerable to privacy and security risks. Concerns have been raised about data collection, unauthorized access to personal information, and potential privacy violations. Manufacturers and service providers must implement strong security measures to protect user data and address these concerns.

Connected TV Market Report Attributes
Report Attribute	Details
Base Year:	2022
Connected TV Market Size in 2022:	USD 80 billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	5%
2032 Value Projection:	USD 150 billion
Historical Data for:	2018 - 2022
No. of Pages:	250
Tables, Charts & Figures:	668
Segments covered:	Screen Size, Screen Type, Technology, Resolution Type, End-use
Growth Drivers:	Growing internet penetration and anticipated shift from conventional TVs Industry collaborations and favorable market conditions (shift from internet TV to smart TV) Demand for higher user experience for on-demand or interactive viewing Rapid urbanization in developing economies Adoption of mini LED and micro LED technologies in display products
Pitfalls & Challenges:	Lack of high-speed network infrastructure and internet access in rural areas Cost issues and competition from alternative mediums

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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.