Connected TV Market

Market Definition

The market involves smart TVs and devices that stream internet-based content directly to TVs. It combines traditional TV with digital streaming, enabling personalized and on-demand viewing.

Key applications include advertising, video streaming services, interactive content, and data analytics for targeted marketing, which enhance viewer engagement and offer new revenue streams for broadcasters and advertisers. This report outlines the primary drivers of market growth, emerging trends, and evolving regulations shaping the industry.

Connected TV Market Overview

The global connected TV market size was valued at USD 10.35 billion in 2024 and is projected to grow from USD 11.40 billion in 2025 to USD 24.27 billion by 2032, exhibiting a CAGR of 11.04% during the forecast period. 

The market is expected to expand with smart TVs and streaming devices, shifting from traditional to personalized and on-demand content. Technological advancements like AI personalization, voice control, and multi-device integration enhance user experience, driving engagement and establishing connected TV as a go-to digital solution.

Major companies operating in the connected TV industry are Panasonic Corporation, SAMSUNG, Sony Corporation, Xiaomi, Hisense International, Koninklijke Philips N.V., Haier Inc., SANSUI, LG Electronics, TCL, VIZIO, Inc., SHARP CORPORATION, Apple Inc., Roku, Inc. and BOE Technology Group Co., Ltd.

The market is driven by the expansion of digital advertising opportunities, from traditional TV’s broad reach to precise and data-driven targeting. This shift enables advertisers to deliver personalized, measurable campaigns across streaming platforms, increasing efficiency and Return on Investment (ROI). 

Enhanced programmatic capabilities and interactive ad formats allow real-time optimization and deeper audience engagement. As more people watch on-demand and free, ad-supported content, connected TV becomes more popular. This shift creates new ways for advertisers to reach audiences and grow their revenue.

• In July 2024, Currys Connected Media partnered with Titan OS to offer Connected TV advertising on Philips and JVC CTVs in the UK and Nordics. The partnership delivers premium and brand-safe ad formats, enabling advertisers to reach and engage with the growing Smart TV audiences.

Key Highlights:

1. The connected TV industry size was valued at USD 10.35 billion in 2024.
2. The market is projected to grow at a CAGR of 11.04% from 2025 to 2032.
3. Asia Pacific held a market share of 35.05% in 2024, with a valuation of USD 3.63 billion.
4. The curved segment garnered USD 4.16 billion in revenue in 2024.
5. The LED segment is expected to reach USD 10.13 billion by 2032.
6. The 4K segment is anticipated to witness a CAGR of 11.32% during the forecast period.
7. The less than 30 inches segment is estimated to grow at a share of 29.96% in 2032.
8. The online retailers segment held a market share of 36.99% in 2024.
9. The residential segment is expected to reach USD 9.35 million by 2032.
10. North America is anticipated to grow at a CAGR of 11.50% during the forecast period.

Market Driver

Rise of Smart TVs and Streaming Devices

The connected TV market is driven by the rapid rise of smart TVs and streaming devices, building the shift from traditional broadcasting to internet-based viewing. Consumers increasingly prefer on-demand and personalized content, leading to the higher adoption of smart TVs with built-in streaming capabilities. This evolution has transformed home entertainment, making it more interactive and accessible. 

As device affordability improves and user interfaces become more intuitive, connected TV penetration continues to accelerate, expanding opportunities for content providers as well as advertisers.

• In May 2025, Samsung Ads unveiled the Samsung Television Network (STN) on Samsung TV Plus, offering brands exclusive access to premium FAST content including sports, music, and movies. Along with STN, new data-driven tools like Optimal Reach and Performance Conversion position Samsung Ads as a leader in performance-focused CTV advertising, utilizing its vast smart TV ecosystem to drive measurable results across screens.

Market Challenge

Limited broadband access in specific regions

Limited broadband access in the connected TV market restricts adoption by preventing reliable streaming of high-quality content, especially in rural and developing regions. Poor infrastructure, high costs, and geographic barriers limit internet availability, reducing viewership and revenue opportunities.

To address this, companies invest in adaptive streaming technologies that adjust video quality to connection speeds, offer offline content, and collaborate with telecom providers to improve networks. They also develop low-data usage apps and affordable smart TVs to expand access and drive growth despite broadband limitations in key markets.

Market Trend

Technological Advancement in Connected TV

The connected TV market is experiencing rapid technological advancement from basic streaming capabilities to AI-driven personalization, voice control, and seamless multi-device integration. These technologies improve the viewing experience by making it more convenient, interactive, and tailored to individual preferences. 

Advanced analytics, interactive features, and smarter ad delivery now enable more dynamic viewer interactions. This trend continues to shape how content is consumed, making connected TV vital in modern digital households.

• In June 2024, Albertsons Media Collective launched Collective TV, a platform that combines retail media with TV advertising. It helps advertisers target audiences, measure results, and optimize campaigns across streaming, digital video, and possibly traditional TV. It uses shopper data and works with partners like Google Display & Video 360, The Trade Desk, and LiveRamp to deliver more targeted and effective advertising.

Connected TV Market Report Snapshot

Segmentation	Details
By Screen Type	Curved, Flat
By Technology	LED, OLED, Others
By Resolution	1080p, 4K, 8K, Others
By Screen Size	Less than 30 inches, 30 inches to 50 inches, 51 inches to 70 inches, Above 70 inches
By Distribution Channel	Company Owned Websites, Specialty Stores, Online Retailers, Others
By End Use	Residential, Commercial, Industrial
By Region	North America: U.S., Canada, Mexico
	Europe: France, UK, Spain, Germany, Italy, Russia, Rest of Europe
	Asia-Pacific: China, Japan, India, Australia, ASEAN, South Korea, Rest of Asia-Pacific
	Middle East & Africa: Turkey, U.A.E., Saudi Arabia, South Africa, Rest of Middle East & Africa
	South America: Brazil, Argentina, Rest of South America

Market Segmentation

• By Screen Type (Curved, and Flat): The curved segment earned USD 4.16 billion in 2024, due to enhanced immersive viewing experiences and growing consumer demand for premium displays.
• By Technology (LED, and OLED): The LED segment held 42.13% of the market in 2024, owing to its cost-effectiveness, energy efficiency, widespread availability, and consistent performance across diverse consumer segments.
• By Resolution (1080p, 4K, 8K, and Others): The 1080p segment is projected to reach USD 7.99 billion by 2032, on account of its affordability, compatibility with content, and sustained demand in emerging and budget-conscious markets.
• By Screen Size (Less than 30 inches, 30 inches to 50 inches, 51 inches to 70 inches, and above 70 inches): The less than 30 inches segment is anticipated to grow at a CAGR of 11.00% due to its compact size, affordability, and suitability for small spaces and secondary viewing areas.
• By Distribution Channel (Company Owned Websites, Specialty Stores, Online Retailers, and Others): The online retailers segment held a market share of 36.99% in 2024, attributed to convenience, wider product variety, competitive pricing, and growing consumer preference for digital shopping experiences.
• By End Use (Residential, Commercial, and Industrial): The residential segment is expected to reach USD 9.35 million by 2032, due to the increasing smart home adoption, rising entertainment consumption, and the growing demand for personalized viewing experiences.

Connected TV Market Regional Analysis

Based on region, the market has been classified into North America, Europe, Asia Pacific, Middle East & Africa, and South America.

The Asia Pacific connected TV market share stood at around 35.05% in 2024, with a valuation of USD 3.63 billion. Asia Pacific is a dominating region in the market, driven by increasing internet penetration across urban and rural areas. Rapid growth in mobile connectivity and internet subscribers has created a broad base of digitally connected households, accelerating the adoption of connected TV. 

With a large part of the population now online, the demand for digital content on bigger home screens is increasing.This widespread connectivity is giving rise to advanced streaming experiences, making connected TV a key medium for entertainment and digital engagement across the region.

• In August 2024, the Ministry of Communication reported significant progress under Universal Connectivity and Digital India, with 95.15% of villages connected via 3G/4G. Internet users increased from 251.59 million in 2014 to 954.40 million in 2024, including 398.35 million rural users. This digital reach accelerates the growth of connected TV, empowering nationwide brand engagement beyond urban markets.

The North America connected TV industry is poised for significant growth at a CAGR of 11.50% over the forecast period. Advanced smart home integrations and enhanced connected TV functionalities are key factors driving North America’s rapid growth in the market. Increasing adoption of sophisticated software updates and the seamless integration of entertainment, fitness, and communication services on large screens are expanding user engagement. 

Enhanced security features and convenience in home access further boost consumer demand. These technological advancements are accelerating product penetration, making North America one of the fastest-growing regions in the market.

• In June 2024, Apple announced tvOS 18 and iOS 18 updates enhancing connected TV experiences with features like InSight, improved dialogue and subtitles, and upgraded Apple Fitness+, Music, and FaceTime capabilities. The Home app also adds guest access and hands-free unlock, boosting convenience and security. These updates, currently in developer beta, will be released as free upgrades, advancing smart home and entertainment integration.

Regulatory Frameworks

• In the U.S., the Federal Communications Commission (FCC) oversees connected TV regulations. As an independent federal agency, the FCC manages interstate and international communications, including television, cable, and satellite services, ensuring compliance across all 50 states.
• In India, connected TV regulation, including OTT and digital media, is primarily managed by the Ministry of Information and Broadcasting. The Telecom Regulatory Authority of India (TRAI) regulates tariffs, while the Central Board of Film Certification oversees content certification for films and television programming.
• In Japan, the Ministry of Internal Affairs and Communications (MIC) regulates connected TV by setting technical standards for broadcasting, including digital TV. The MIC also oversees telecommunications and internet sectors, ensuring comprehensive governance of connected TV infrastructure and services.

Competitive Landscape

Key players in the connected TV industry are driving growth through strategic initiatives including mergers and acquisitions, product launches, and technological partnerships. Companies are actively expanding their portfolios by acquiring innovative startups and integrating complementary technologies. 

Simultaneously, they are launching new smart TV models, streaming devices, and advertising solutions to capture market share. These developments aim to strengthen their market position, broaden offerings, and enhance ecosystem capabilities, reflecting a dynamic and competitive landscape focused on scaling connected TV adoption globally.

• In March 2025, ArabyAds expanded its exclusive advertising partnership with VIDAA and Hisense across the UAE and the Kingdom of Saudi Arabia ( KSA). With the use of VIDAA’s Smart TV platform and Hisense’s market presence, ArabyAds offers advertisers premium connected TV inventory with data-driven, targeted home screen placements and high-impact video ads, enhancing measurable advertising reach across millions of households in the region.

List of Key Companies in Connected TV Market:

• Panasonic Corporation
• SAMSUNG
• Sony Corporation
• Xiaomi
• Hisense International
• Koninklijke Philips N.V.
• Haier Inc.
• SANSUI
• LG Electronics
• TCL
• VIZIO, Inc
• SHARP CORPORATION
• Apple Inc.
• Roku, Inc.
• BOE Technology Group Co., Ltd.

Recent Developments (New Product Launch/ Partnerships)

• In May 2025, Samsung Electronics UK announced a strategic partnership with BAFTA, reinforcing its support for the UK’s creative sector. The partnership aligns with the launch of Samsung’s 2025 lineup of AI-powered TVs, projectors, and soundbars, now available for pre-order. Products will ship nationwide via Samsung.com and key retail partners including John Lewis, Currys, and Argos.
• In June 2024, Yahoo Advertising launched Unified TV Audiences, a blended dataset combining CTV and linear TV viewership across 108 million U.S. households. Integrated with Yahoo DSP’s 205 million logged-in users and powered by Yahoo ConnectID, this solution enables advertisers to efficiently plan, activate, and measure campaigns with comprehensive insights from automatic content recognition and set-top box data.
• In June 2024, MiQ partnered with Hoppr in Singapore to deliver guaranteed-view connected TV (CTV) advertising using Hoppr’s patented platform and MiQ’s advanced data-driven targeting. This partnership addresses TV fragmentation by enabling precise audience targeting and inventory planning, maximizing ad effectiveness. Both firms plan to expand Advanced TV solutions across linear, streaming, and YouTube in the Asia Pacific, enhancing programmatic video convergence.
• In March 2024, Teads expanded its exclusive partnership with LG Ad Solutions, securing premium CTV native advertising inventory across Germany, Austria, Switzerland, Australia, New Zealand, and 10 Asia Pacific countries. This extension builds on Teads’ existing presence in France and Belgium, establishing it as the sole partner for LG Smart TVs’ first touchpoint, enhancing advertiser reach on consumers’ largest screens.