Connected TV Market Forecast: From USD 15.42 Billion in 2023 to USD 36.95 Billion by 2030

Connected TV Market Industry was valued at 15.42 Billion USD for the year 2023 and is expected to grow at a CAGR of 13.3 % to become a 36.95 Billion USD market by the year 2030.

Connected TV Market Overview:

The Connected TV (CTV) market has experienced significant growth, driven by the increasing adoption of smart TVs and streaming services. Consumers are shifting from traditional cable television to internet-based viewing platforms, leading to a surge in demand for CTV devices. This transition is facilitated by advancements in internet infrastructure, providing users with seamless access to a variety of content. As a result, the CTV market has become a central component of the entertainment industry, influencing content consumption patterns and advertising strategies.

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Connected TV Market Dynamics:

• Shift from Linear TV to Streaming: There is a notable decline in traditional TV viewership, with consumers increasingly opting for on-demand streaming services that offer greater flexibility and content variety.
• Advancements in Technology: Continuous improvements in CTV hardware and software, including enhanced display technologies and user interfaces, contribute to a more engaging viewing experience.
• Advertising Opportunities: The rise of CTV has opened new avenues for advertisers, allowing for targeted and interactive advertising experiences that are more appealing to consumers.
• Content Diversification: The proliferation of streaming platforms has led to a diverse range of content offerings, catering to various viewer preferences and expanding the CTV user base.

Connected TV Market Outlook and Future Trends :

• Integration of Artificial Intelligence: AI is being utilized to personalize content recommendations and enhance user interfaces, improving overall user satisfaction.
• Expansion of Ad-Supported Streaming Models: The popularity of free, ad-supported streaming services is increasing, providing consumers with more options and advertisers with broader reach.
• Growth in International Markets: Emerging economies are experiencing a rise in CTV adoption, driven by improving internet access and the availability of affordable devices.
• Enhanced Cross-Platform Compatibility: Efforts to improve interoperability between CTV devices and other smart home technologies are making it easier for users to integrate their viewing experiences across multiple platforms.

Key Recent Developments:

• Strategic Partnerships: Companies in the CTV ecosystem are forming alliances to expand their content offerings and enhance advertising capabilities, aiming to provide more value to both consumers and advertisers.
• Regulatory Considerations: Governments are evaluating policies to address issues related to data privacy and advertising standards within the CTV landscape, ensuring a fair and secure environment for users.
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• Technological Innovations: The development of new technologies, such as 5G connectivity and advanced display panels, is expected to further enhance the CTV viewing experience, offering higher quality content and more interactive features.

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Connected TV Market Segmentation:

by Device Type

Smart TVs
Set-top Boxes
Streaming Sticks
Gaming Consoles
Media Streaming Devices

by Operating System

Roku OS
Android TV
webOS
Tizen
Fire TV OS

by Screen size

Less than 30 inches
30 inches to 50 inches
50 inches to 70 inches
Above 70 inches

by Screen

technology LED
OLED
QLED

by Resolution Type

4K
8K
1080p

by Sales Channel

Online retailer
Offline retailers
Hypermarkets and Supermarkets
Direct sales

by End-User

Residential
Commercial

Some of the current players in the Connected TV Market are:

1.Roku (California, United States)
2.Amazon Fire TV (Washington United States)
3.Google Chromecast (California, United States)
4. Apple TV (California, United States)
5. Samsung Smart TVs (South Korea)
6.LG Smart TVs (Seoul, South Korea)
7. Sony Android TVs (Tokyo, Japan)
8. Xiaomi (China)
9.TCL (Guangdong, China)
10.Hisense (Shandong, China)
11.Skyworth (Guangdong, China)
12. Huawei (Guangdong, China)
13. NVIDIA Shield TV (California, United States)
14.Vizio Smart TVs (United States)
15. Panasonic Smart TVs (Osaka, Japan)
16.Philips Android TVs (Amsterdam, Netherlands)
17.Sharp Smart TVs (Sakai, Osaka, Japan)
18.Roku TV (California, United States)
19.Amazon Fire TV Edition (Washinton, United States)
20.Google TV (California, United States)
21.Android-based smart TVs (Various manufacturers worldwide)
22. Sony PlayStation consoles (Tokyo, Japan)
23.Microsoft Xbox consoles (Washington, United States)
24. AT&T TV (California, United States)
25.Comcast Xfinity X1 and Flex (Philadelphia, Pennsylvania, United States)

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