Rising Demand for OTT Content Fuels Growth in Connected TV Market : Powering Innovation and Expansion in the Connected Television (TV) Market by 2025

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What Is the Expected CAGR for the Connected Television (TV) Market Through 2025?
Recent years have seen a swift expansion in the size of the connected television (TV) market, which is predicted to rise from $15.53 billion in 2024 to $17.55 billion in 2025 with a 13.0% compound annual growth rate (CAGR). The considerable growth observed in the historic period can be ascribed to several factors such as a fast-growing middle-class population, enhancements in internet infrastructure, escalating popularity of streaming services, increased usage of smart TVs, and the emergence of over-the-top (OTT) services.

What's the Projected Size of the Global Connected Television (TV) Market by 2029?
In the coming years, the market for connected television (tv) is anticipated to experience a significant expansion. The market is projected to reach a value of $29.31 billion in 2029, with a compound annual growth rate (CAGR) of 13.7%. The rise in this projection period can be accredited to the integration of voice assistants, an increased demand for customized viewing experiences, a surge in investments in Ad-supported streaming services, a heightened demand for versatile media access, swift industrialization, and a growth in home refurbishment. Noteworthy trends during this prediction period incorporate advancements in display technology, a preference for versatile media access through smart devices, the application of artificial intelligence and machine learning in connected TVs, the incorporation of blockchain technology in Connected TVs, and the employment of cloud-based services in connected TVs.

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Top Growth Drivers in the Connected Television (TV) Industry: What's Accelerating the Market?
The expansion of the connected TV market is predicted to be driven by growing consumption of over-the-top (OTT) content. OTT content, including audio, video, and other media, bypasses standard delivery methods like cable or satellite TV, instead being delivered directly to the consumer. This demand for OTT content is on the rise, mainly due to customers valuing ease and adaptability, the rampant existence of high-speed internet and smart devices, and the ever-increasing scope of streaming platforms. A combined platform is offered by connected TV for accessing a plethora of streaming content and various services without the requirement of extra devices or memberships. For instance, data from the Business of Apps, a renowned UK-based business-to-business media and data platform, points to Netflix (a subscription streaming service showcasing a broad spectrum of films, TV series, documentaries, and tailored programming), witnessing a considerable subscriber growth, zooming from 220.6 million in 2022 to 238.3 million in 2023, marking up an increase close to 8.04%. Consequently, the growing demand for an improved over-the-top (OTT) content viewing experience is accelerating the connected television (TV) market's growth.

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What Are the Key Trends Driving Connected Television (TV) Market Growth?
Prominent businesses in the connected television sector are incorporating AI-focused features into their TVs to secure a competitive edge. AI-focused feature TVs are those which utilize artificial intelligence to amplify various aspects of watching TV. For example, Samsung, an electronics firm based in South Korea, launched the Samsung Neo QLED 8K TV series in April 2022. This series boasts enhancements like Mini LED backlighting technology, AI-enabled upscaling, and built-in smart home control. The Neural Quantum Processor 8K with Real Depth Enhancer applies AI-powered deep learning to detect and refine objects, producing a three-dimensional depth. This offers consumers unparalleled image quality, advanced upscaling abilities, and effortless integration with smart home gadgets.

What Are the Main Segments 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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Which Top Companies are Driving Growth in the Connected Television (TV) Market?
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

Which Regions Will Dominate the Connected Television (TV) Market Through 2029?
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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