Connected TV Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2025 - 2034

The Global Connected TV Market was valued at USD 85.4 billion in 2024 and is estimated to grow at a CAGR of 9.1% to reach USD 203.8 billion by 2034. This surge reflects a dramatic shift in consumer behavior, where traditional TV viewership is being rapidly replaced by internet-based television. As digital content becomes more accessible and affordable, connected TVs are transforming the way people consume entertainment. Consumers today are moving away from expensive cable or satellite subscriptions and gravitating toward flexible, on-demand platforms. This has led to a significant uptick in the popularity of streaming giants like Netflix, Hulu, Amazon Prime Video, and Disney+, which now serve as primary content hubs. The growing availability of high-definition and 4K content, combined with smart features such as voice control and AI-based recommendations, is boosting user engagement. As more households prioritize convenience, personalization, and variety in their viewing habits, the demand for connected TVs is expected to expand at a remarkable pace. Manufacturers are responding with innovations that offer immersive experiences and intuitive interfaces, further driving market momentum. The widespread penetration of high-speed internet and the rollout of 5G are also catalyzing this growth, especially in urban areas where digital infrastructure is robust.

The market is categorized by screen size, with the 30 to 50-inch segment leading in market share, valued at USD 35.4 billion in 2024. This screen size range hits the sweet spot for many consumers, offering the perfect balance between affordability and immersive viewing. It caters to a wide audience, particularly those furnishing living rooms, bedrooms, or mid-sized spaces. By 2034, this segment is expected to reach USD 88.1 billion as more users choose this category for its value-for-money proposition. Streaming platforms are continuously enhancing content resolution, making this screen size ideal for full HD and 4K content consumption.

Based on technology, the LED segment held a dominant 60% share in 2024. LED TVs continue to appeal to cost-conscious buyers due to their affordability, energy efficiency, and availability across various screen sizes. They remain a preferred choice for mass-market consumers seeking dependable performance. On the other hand, OLED TVs offer a premium viewing experience with superior contrast, deeper blacks, and wide-angle clarity. While OLED adoption is increasing, its high price tag keeps it from capturing a larger share at this stage.

The U.S. Connected TV Market generated USD 20.1 billion in 2024. American consumers are tech-savvy and prioritize smart features that elevate their home entertainment experience. The demand for TVs that support 4K/8K HDR content and integrate voice assistants like Alexa, Google Assistant, and Siri is on the rise. These features enhance interactivity and convenience, driving more users toward connected TVs.

Major players in the Global Connected TV Market include Samsung Electronics, TCL Technology, Hisense Group, Sony Corporation, Roku, Inc., Vizio Inc., Apple, LG Electronics, Panasonic Corporation, Skyworth Group, Philips, Sharp Corporation, Xiaomi Corporation, Google, and Amazon. These companies are investing in R&D, smart OS platforms, and content partnerships to capture user loyalty and expand global reach.