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Historical Growth of the Connected Television (TV) Market: Insights into Expanding Industry Size
There has been a substantial increase in the size of the connected television (TV) market in the recent past. Looking forward, it is estimated to expand from a market worth $15.53 billion in 2024 to command a market size of $17.55 billion in 2025, reflecting a compound annual growth rate (CAGR) of 13.0%. The significant growth witnessed during the historical period is largely a result of a rapidly increasing middle-class populace, improved internet infrastructure, growing popularity of streaming platforms, wider acceptance of smart TVs, and the emergence of over-the-top (OTT) services.
The market size of connected television (tv) is set to witness a significant increase in the coming years, anticipated to hit $29.31 billion in 2029 at a compound annual growth rate (CAGR) of 13.7%. This expected increase in the forecast period can be linked to the incorporation of voice assistants, rising requirement for customized viewing experiences, an uptick in funding in Ad-backed streaming platforms, an escalating need for versatile access to media, swift industrialization, and a climb in home renovation. Key trends during the forecast period comprise advancements in display technology, a demand for versatile access to media through smart gadgets, the application of artificial intelligence and machine learning in connected TVs, the use of blockchain technology in Connected TVs, and the employment of cloud-based services in connected TVs.
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Which Primary Drivers Are Boosting the Connected Television (TV) Market's Performance?
The growth of the connected TV sector is predicted to be fuelled by soaring demand for over-the-top (OTT) content. OTT content, encompassing audio, video and other media, is delivered straight to consumers, eliminating the need for traditional providers such as cable or satellite TV. Consumer demand for flexibility and convenience, increasing ownership of smart devices, rapid internet speeds, and the growth of streaming platforms is leading to a surge in demand for OTT content. Connected TV offers a consolidated platform, allowing access to a wide selection of streaming services and content without the need for further devices or subscriptions. The Business of Apps, a leading business-to-business media and information platform in the UK, reported that subscription-based service Netflix saw substantial growth in their subscriber base, rising from 220.6 million in 2022 to 238.3 million in 2023, an increase of about 8.04%. Therefore, the increasing interest in a superior viewing experience for OTT content is propelling the expansion of the connected TV market.
Which Key Segments Are Driving Growth in the Connected Television (TV) Market?
The connected television (tv) market covered in this report is segmented -
1) By Screen Type: Curved, Flat
2) By Platform Type: Android, Roku, Other Platforms
3) By Screen Size: Less Than 30 Inches, 30 Inches To 50 Inches, 50 Inches To 70 Inches, Above 70 Inches
4) By Distribution Channel: Company Owned Websites, Specialty Stores, Online Retailers, Other Channels
5) By End Use: Residential, Commercial
Subsegments:
1) By Curved: 4K Curved TVs, 8K Curved TVs, LED Curved TVs, OLED Curved TVs
2) By Flat: 4K Flat TVs, 8K Flat TVs, LED Flat TVs, OLED Flat TVs
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What are the Key Trends Forecasted to Reshape the Connected Television (TV) Industry Structure?
Key players in the connected television (TV) market are innovating AI-enhanced TVs to bolster their competitive standing.
AI-enhanced TVs are televisions integrated with artificial intelligence to elevate multiple aspects of the user's viewing experience. For example, in April 2022, Samsung, an electronics company from South Korea, introduced the Samsung Neo QLED 8K TV series. This series includes cutting-edge features like Mini LED backlighting technology, AI-enabled upscaling and in-built smart home management. Its Neural Quantum Processor 8K, equipped with a Real Depth Enhancer, leverages AI-driven deep learning to recognize and enhance objects, producing a three-dimensional depth. This offers customers an unmatched picture quality, superior upscaling abilities, and a seamless pairing with smart home appliances.
Which Geographies Are Leading the Expansion of the Connected Television (TV) Market?
Asia-Pacific was the largest region in the connected television (TV) market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the connected television (TV) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Who Are the Top Companies Dominating the Connected Television (TV) Market in 2025?
Major companies operating in the connected television (TV) market report are Apple Inc.; Samsung Electronics Co. Ltd.; Sony Corporation; Hitachi Ltd.; LG Electronics Inc.; Panasonic Corporation; Haier Group; Xiaomi Corporation; Toshiba Corporation; Koninklijke Philips N.V.; Sharp Corporation; TCL Technology Group Corporation; Westinghouse Electric Corporation; Hisense Visual Technology Co Ltd; Konka Group Co. Ltd.; JVC Kenwood Corporation; Vizio Inc.; OnePlus Technology (Shenzhen) Co. Ltd.; Bang & Olufsen A/S; Skyworth Digital Holdings Limited; Element Electronics Corporation; Pioneer Corporation; Insignia Systems Inc.; Sansui Electric Co. Ltd.; Leshi Internet Information & Technology Corp. Beijing
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