The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

 

The Business Research Company’s Connected Television (TV) Global Market Report 2024 offers crucial insights into the connected television (TV) market help businesses analyse and build stronger strategies.

 

Recent Market Expansion

• The connected TV market has experienced rapid growth.
• Market size increased from $13.67 billion in 2023 to $15.53 billion in 2024.
• Compound annual growth rate (CAGR) of 13.6%.

Historic Growth Drivers

• Rapidly expanding middle-class population.
• Improving internet infrastructure.
• Increasing popularity of streaming services.
• Growing adoption of smart TVs.
• Rise of over-the-top (OTT) services.

 

Read The Full Connected Television (TV) Market Report Here:
https://www.thebusinessresearchcompany.com/report/connected-television-tv-global-market-report

 

Future Market Projections

Expected Growth

• The market size is projected to reach $26.12 billion by 2028.
• Forecasted CAGR of 13.9%.

Drivers of Future Growth

• Integration of voice assistants.
• Increasing demand for personalized viewing experiences.
• Growing investment in ad-supported streaming services.
• Growing demand for versatile media access.
• Rapid industrialization and growth in house renovation.

Major Trends

• Advancements in display technology.
• Demand for versatile media access via smart devices.
• Use of artificial intelligence and machine learning in connected TVs.
• Use of blockchain technology in connected TVs.
• Adoption of cloud-based services in connected TVs.

Enhanced Viewing Experience of OTT Content Drives Connected TV Market Growth

Impact of OTT Content

• The rising demand for over-the-top (OTT) content propels market growth.
• OTT content refers to media delivered directly to users via the internet.
• Driven by consumer demand for flexibility and convenience.

Example: UK SVoD Subscriptions

• UK homes subscribing to SVoD services increased from 60% in 2021 to 67% in 2022.
• Demonstrates the growing preference for enhanced viewing experiences.

Key Players in the Market

• Apple Inc.
• Samsung Electronics Co. Ltd.
• Sony Corporation
• Hitachi Ltd.
• LG Electronics Inc.
• Panasonic Corporation
• Haier Group
• Xiaomi Corporation
• Toshiba Corporation
• TCL Technology Group Corporation
• Westinghouse Electric Corporation
• Hisense Visual Technology Co Ltd
• Konka Group Co. Ltd.
• JVC Kenwood Corporation

Technologically Advanced Products Driving Growth of Connected TV Market

Innovative Features

• Companies are integrating AI into TVs to enhance the viewing experience.
• AI-integrated TVs utilize deep learning for superior picture quality and smart functionalities.

Example: Samsung’s Neo QLED 8K TV

• Features Mini LED backlighting, AI-powered upscaling, and smart home integration.
• Enhances picture quality and user experience through AI-based technologies.

AppLovin Enhances Growth With Acquisition Of Wurl

Strategic Acquisition

• AppLovin Corporation acquired Wurl for $430 million in August 2023.
• Focuses on expanding performance marketing into the connected TV domain.
• Wurl specializes in content distribution and monetization solutions for connected TVs.

Market Segmentation

By Screen Type

• Curved
• Flat

By Platform Type

• Android
• Roku
• Other Platforms

By Screen Size

• Less Than 30 Inches
• 30 Inches To 50 Inches
• 50 Inches To 70 Inches
• Above 70 Inches

By Distribution Channel

• Company Owned Websites
• Specialty Stores
• Online Retailers
• Other Channels

By End Use

• Residential
• Commercial

Regional Insights

• Asia-Pacific was the largest region in the connected TV market in 2023.
• Expected to remain the fastest-growing region through the forecast period.

In conclusion, the connected TV market is poised for substantial growth driven by technological advancements, increasing demand for personalized content consumption, and expanding internet connectivity. As consumers continue to embrace digital entertainment and smart technologies, the market landscape for connected TVs is set to evolve with innovative features and enhanced viewing experiences.

 

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The Connected Television (TV) Global Market Report 2024  provides a comprehensive outlook of the connected television (TV) market for the historic years (2010 – 2021) and ten years forecast (2023 – 2032). The connected television (TV) market forecast offers a thorough analysis on connected television (TV) market size, connected television (TV) market share, prominent players and their strategies.

 

The Table Of Content For The Connected Television (TV) Market Include:
1. Connected Television (TV) Market Executive Summary
2. Connected Television (TV) Market Segments
3. Connected Television (TV) Market Size And Connected Television (TV) Market Growth Rate
4. Key Connected Television (TV) Market Trends
5. Major Connected Television (TV) Market Drivers
……
25. Key Mergers And Acquisitions In The Connected Television (TV) Market
26. Top Connected Television (TV) Companies
27. Connected Television (TV) Market Opportunities And Strategies
28. Connected Television (TV) Market, Conclusions And Recommendations
29. Appendix

 

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