Skip to main content

Connected TV Market is Expected to Witness a CAGR of 13.2% to Reach US$ 38.1 billion by 2031: TMR Report

WILMINGTON, DE / ACCESSWIRE / May 25, 2023 / Transparency Market Research Inc. - The global connected TV market was valued at US$ 12.5 Bn in 2022 and is projected to expand at a CAGR of 13.2% from 2023 to 2031 and reach US$ 38.1 Bn by the end of 2031. Rise in disposable income and increase in purchase of electronic entertainment devices are fueling the connected TV market.

Transparency Market Research inc., Thursday, May 25, 2023, Press release picture

Furthermore, focus of companies in the connected TV market to meet the rise in demand for game consoles, cellphones, set-top boxes, digital media players, Blu-ray players, and other network-connected interactive devices with television-type display outputs is creating value-grab opportunities.

Connected TV enables users to stream a variety of content such as movies, sports, TV channels, and entertainment through a single device. Connected TV enables consumers to browse the internet, stream music and video, and view images on a standard television set that has an integrated Internet connection and interactive Web 2.0 features. The combined technological ability of digital TV, computers, and digital media players has led to the creation of smart TVs.

To Remain Ahead of Your Competitors, Request for a Sample:

Market Scope:

Report Coverage Details
Market Revenue USD 12.5 Bn
Estimated Value USD 38.1 Bn
Growth Rate - CAGR


Forecast Period 2023 - 2031
No. of Pages 160 Pages
Market Segmentation Screen Size, Platform Type, Screen Type, Usage, Resolution Type, Display Type, End-use, Distribution Channel
Regions Covered North America, Europe, Asia Pacific, Middle East & Africa, Latin America
Key Players Furrion, LLC, LG Electronics Inc., Panasonic Corporation,, Samsung Electronics Co., Ltd., Sansui Electric Co., Ltd., Sanyo Electric Co., Ltd., Sony Group Corporation, TCL Technology, Vizio Inc., Xiaomi Corporation

Key Findings of Study

Technological Innovations in Connected TV Industry Fuels Growth - Rise in television viewership and growth in demand for online video via web platforms, apps, and other Internet platforms are likely to boost the connected TV market value. Furthermore, manufacturers are engaging in R&D activities to offer technologically advanced high-resolution products. This is likely to boost their market share.

Focus of key players on innovations and upgrades such as curve design and connection options is creating lucrative business opportunities for companies operating in the connected TV market. This, along with shift in consumer preference for OLED and QLED displayers, is anticipated to trigger market development in the next few years.

Share Your Precise Requirements for Customized Sample:

Rapid Urbanization and Changing Lifestyle Boosting Connected TV Market Size - Rapid urbanization and rise in economic prosperity have led to a shift in consumer preference for smart products in commercial and residential spaces. Additionally, rise in adoption of smart TVs in the IoT ecosystem due to features such as automatic user assistance and ambient intelligence is bolstering connected TV market growth.

According to recent connected TV market trends, television viewership and popularity of online video platforms such as web TV platforms and other internet platforms, which are available for different age groups, is gaining traction.

High Demand for 30 inches to 50 inches Screen Size- Based on screen size, the 30 inches to 50 inches segment dominates the global market. This is the standard size of connected TVs that is majorly preferred by education and entertainment industries. Furthermore, 30 inches to 50 inches connected TVs are cost-effective compared to other screen sizes.

Growth Drivers

  • Key advantages of connected TV to enable users to browse the internet, stream music and videos, and view images on a standard TV set with an integrated Internet connection and interactive Web 2.0 features boosts demand
  • Increase in economic prosperity and rise in purchase of electronic entertainment devices are fueling the connected TV market

Regional Landscape

Asia Pacific is anticipated to lead the global connected TV market during the forecast period. Rapid urbanization that entails house renovation and growth in premium hotel and restaurant development projects are fueling the market size in the region.

Furthermore, rise in disposable income in emerging economies is significantly influencing market demand in Asia Pacific. Increase in popularity of OTT platforms, such as Amazon Prime, Netflix, and HOOQ, is also accelerating growth in the connected TV market in the region.

Competitive Analysis

The connected TV market is consolidated, with a few large-scale vendors holding majority share. Key players are investing significantly in R&D activities to introduce advanced connected TVs. M&As and expansion of product portfolio are key strategies adopted by major players in the connected TV market.

Key players in the connected TV market include Furrion LLC, Panasonic Corporation, Sansui Electric Co. Ltd., Sony Group Corporation, Vizio Inc., LG Electronics Inc., Samsung Electronics Co. Ltd, Sanyo Electric Co. Ltd., TCL Technology, and Xiaomi Corporation.

Browse the Full Report with Facts and Figures of the Connected TV Market:

The connected TV market is segmented as follows:

Global Connected TV Market, by Screen Size

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

Global Connected TV Market, by Screen Type

  • Curved
  • Flat

Global Connected TV Market, by Resolution Type

  • 8K
  • 4K
  • 1080 p
  • Others

Global Connected TV Market, by Display Type

  • QLED
  • OLED
  • LED
  • Others

Global Connected TV Market, by Platform Type

  • Android
  • Roku
  • Others

Global Connected TV Market, by Usage

  • Indoor
  • Outdoor

Global Connected TV Market, by End-use

  • Entertainment
  • Education
  • Home Use
  • Others

Global Connected TV Market, by Price

  • Low
  • Medium
  • High

Global Connected TV Market, by Distribution Channel

  • Online
  • E-commerce Websites
  • Company-owned Websites
  • Offline
  • Hypermarkets and Supermarkets
  • Specialty Stores
  • Factory Outlets
  • Independent Retailers
  • Other Retail Based Stores

Global Connected TV Market, by Region

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • South America

About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.


Nikhil Sawlani
Transparency Market Research Inc.
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453

SOURCE: Transparency Market Research inc.

View source version on

Data & News supplied by
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.