The global connected TV market size was valued at USD 267.67 billion in 2024 and is projected to reach USD 530.90 billion by 2030, expanding at a CAGR of 12.80% between 2025 and 2030. Growth in this sector is largely fueled by the rising adoption of streaming platforms that provide consumers with a wide range of affordable, on-demand entertainment options.
As audiences continue to migrate from traditional cable and satellite TV toward digital platforms such as Netflix, Disney+, and Amazon Prime Video, the popularity of connected TV devices has grown significantly, positioning them as the centerpiece of modern home entertainment. Technological progress has been instrumental in driving this adoption. Manufacturers are equipping CTVs with advanced capabilities, including 4K/8K resolution, HDR, OLED and QLED displays, and AI-powered content curation. These innovations elevate the viewing experience and appeal to consumers who value premium, interactive entertainment. Added features like voice control, smart home connectivity, and personalized user interfaces further distinguish connected TVs from conventional models, accelerating their global adoption.
The market remains highly competitive, with established consumer electronics leaders such as Samsung, LG, and Sony, as well as technology majors like Amazon, Apple, and Google, driving innovation. Ongoing strategic partnerships, acquisitions, and technological improvements are expected to further boost industry momentum, solidifying connected TVs as a cornerstone of the digital entertainment ecosystem.
However, the connected TV (CTV) market also encounters certain hurdles. A key challenge lies in market concentration, as a few major tech companies—most notably Google and Amazon—dominate the operating system ecosystem. This concentration can suppress competition, inflate costs, reduce innovation, and limit consumer options, especially if self-preferencing practices occur.
Another restraint is the higher cost of connected TVs compared to traditional models. Premium pricing can discourage adoption in regions with limited purchasing power. Additionally, entrenched viewing habits and reluctance to move away from traditional TV formats slow down adoption in some demographics.
Key Market Highlights:
- Asia Pacific led the global market with a revenue share of 38.57% in 2024.
- By screen size, the 30 to 50-inch segment dominated, generating nearly USD 150 billion in 2024.
- By distribution channel, the online segment captured the largest revenue share in 2024.
- By technology, the LED segment is forecast to grow at a CAGR of 12.6% from 2025 to 2030.
Download a free sample PDF of the Connected TV Market Intelligence Study from Grand View Research.
Market Performance:
- 2024 Market Size: USD 267.67 Billion
- 2030 Projected Market Size: USD 530.90 Billion
- CAGR (2025–2030): 12.80%
- Asia Pacific: Largest market in 2024
Prominent Companies & Market Dynamics:
The connected TV (CTV) industry is characterized by intense competition, with global leaders and specialized manufacturers vying for market share. Companies such as Samsung Electronics, LG Electronics, Sony, Panasonic, and Philips dominate the Tier 1 space, leveraging broad product portfolios, advanced R&D, and international distribution networks. Their strategies focus on incorporating UHD displays, AI-enhanced recommendations, and smart home integration, ensuring sustained market leadership.
In contrast, Tier 2 players like TCL, Hisense, Vizio, and Roku target cost-sensitive consumers by offering competitively priced yet technologically advanced TVs and streaming devices. These firms often exploit regional advantages and local content partnerships to strengthen market penetration. Roku, for example, holds a strong position in the U.S. connected TV device market due to its widely adopted streaming ecosystem.
Industry competition is further influenced by next-generation display technologies (OLED, QLED, mini-LED), partnerships with content providers, and the growing adoption of programmatic advertising models. Moreover, sustainability initiatives and energy-efficient designs are becoming significant differentiators shaping consumer demand and innovation paths.
Key Companies:
- LG Electronics
- Sony Corporation
- Panasonic Corporation
- Philips
- TCL Technology
- Xiaomi Corporation
- Hisense Group
- Sharp Electronics
- Roku
- Skyworth
- Haier Group
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Conclusion:
The connected TV market is on a robust growth trajectory, driven by technological innovation, shifting consumer preferences, and the rapid expansion of digital streaming ecosystems. While challenges such as market concentration and pricing remain, ongoing innovation and strategic moves by leading players are expected to ensure strong long-term growth.
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