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Connected TV Market Trends

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

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Connected TV Market Trends

The growing trend of Video-on-Demand (VoD) is likely to spur market expansion as connected TVs support several well-known video platforms that provide on-demand content. Customers can browse the internet and also use other supported applications that provide educational insights for kids on connected TVs. Connected TVs can also support the interactive elements found in educational software including remote cursors and voice input. Additionally, producers are garnering the attention of customers by creating affordable products and offering services at competitive prices. Manufacturers create connected TVs with different features according to the requirements of customers at all price points. High-end connected TVs are made with premium display panels and components, significantly raising their cost.

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.