Connected TV Market Gains Traction as Global OTT Viewership Reaches New Heights

The global connected TV market was valued at USD 13,233.7 million in 2022 and is projected to grow from USD 14,841.2 million in 2023 to USD 32,517.2 million by 2030, exhibiting a CAGR of 12.18% during the forecast period. Market growth is driven by rising demand for smart home entertainment, increasing internet penetration, and advancements in streaming services. Read Complete Report Details: https://www.kingsresearch.com/connected-tv-market-374 Key Market Drivers and Trends Increasing Popularity of Streaming Services Growth of Netflix, Amazon Prime Video, Disney+, and other OTT platforms driving demand for connected TVs. Cord-cutting trend leading to a shift from traditional cable TV to internet-based content consumption. Technological Advancements in Display and Connectivity Development of 4K, 8K, OLED, and QLED screens for enhanced viewing experience. Integration of AI-driven voice assistants, IoT connectivity, and cloud gaming boosting adoption. Expansion of High-Speed Internet and 5G Networks Increasing availability of fiber-optic broadband and 5G enabling seamless streaming. Smart TVs with Wi-Fi 6 and improved connectivity options enhancing user experience. Growing Demand for Smart Homes and Connected Devices Rising adoption of home automation systems integrating connected TVs with smart assistants like Alexa and Google Assistant. Consumers seeking personalized content recommendations and multi-device synchronization. Affordability and Availability of Connected TVs Declining costs of high-resolution TVs and smart features making connected TVs more accessible. Availability of budget-friendly models from brands like Xiaomi, TCL, and Hisense increasing market penetration. Market Segmentation and Regional Insights By Screen Type: Flat Screens (Dominant Segment) – Preferred due to cost-effectiveness and widespread availability. Curved Screens – Growing niche segment offering immersive viewing experience. By End Use: Residential (Largest Segment) – High demand for home entertainment systems and smart TVs. Commercial – Growth in digital signage, hospitality, and corporate usage. By Screen Size: Less than 30 inches – Popular for secondary rooms and budget-conscious consumers. 30 inches to 50 inches – Dominates the market with versatile applications in homes and businesses. By Platform Type & Distribution Channel: Connected TVs with Android TV, Roku, Fire OS, and Apple TV integration gaining traction. Online retail channels experiencing higher sales due to convenience and discounts. Regional Insights: North America (Largest Market) – Strong demand for OTT content, smart home integration, and advanced TV technology. Asia-Pacific (Fastest Growing Market) – Driven by rising disposable income, internet expansion, and increasing smart TV adoption in China and India. Europe – Steady growth fueled by consumer preference for high-end smart TVs and streaming services. Latin America & Middle East – Increasing demand due to digital transformation and urbanization. Conclusion The connected TV market is set for significant growth, driven by advancements in display technology, expansion of streaming platforms, and increasing smart home adoption. As demand for immersive entertainment and personalized content rises, manufacturers and service providers will continue to innovate, shaping the future of the home entertainment industry.

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Added: 12-03-2025