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Connected TV Market Trends

Report ID: GMI5879
Published Date: Jun 2024
Report Format: PDF

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Connected TV Market Trends

Connected TVs are increasingly being integrated with smart home ecosystems, allowing seamless control through voice assistants like Amazon Alexa, Google Assistant, and Apple Siri. This integration enhances the user experience by providing centralized control over various smart home devices. AVOD services are gaining traction as an alternative to subscription-based models, offering free content with advertisements. Platforms like YouTube, Pluto TV, and Tubi are becoming popular among cost-conscious consumers. Innovations in display technology, such as OLED, QLED, and MicroLED, are improving picture quality with better color accuracy, contrast, and brightness. Additionally, the adoption of 4K and 8K resolution is enhancing the viewing experience. With the rise of cloud gaming services like Google Stadia, Nvidia GeForce Now, and Microsoft Xbox Cloud Gaming, connected TVs are becoming central to the gaming experience. Enhanced graphics, lower latency, and controller compatibility are key features.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

Global industry size for connected TV was valued at USD 78.2 billion in 2023 and is anticipated to register 9.5% CAGR between 2024 and 2032 due to the technological advancements and growing smart home integration trends.

The LED segment in the connected TV market held 60% revenue share in 2023 due to its affordability, energy efficiency, and long lifespan.

North America market is expected to reach USD 47.3 billion by 2032 due to tech innovation, smart features, and widespread high-speed internet availability.

Amazon, Apple, Google, Hisense Group, LG Electronics, Panasonic Corporation, Philips, Roku, Inc., and Samsung Electronics, among others.