The Connected TV Market Industry was valued at 15.42 Billion USD for the year 2023 and is expected to grow at a CAGR of 13.3 % to become a 36.95 Billion USD market by the year 2030.
Connected TV Market Overview:
The connected TV market has experienced substantial growth in recent years, driven by the increasing popularity of streaming services and the widespread adoption of internet-connected television sets. Connected TVs enable consumers to access a variety of content through applications, including video-on-demand, gaming, social media, and news, offering a seamless entertainment experience. This market is benefiting from the proliferation of high-speed internet, the rising penetration of smart TVs, and the demand for personalized content, making it a significant player in the broader television and entertainment industry.
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Connected TV Market Trends:
A major trend shaping the connected TV market is the shift toward hybrid streaming models, where users can access both free and subscription-based content. Free ad-supported streaming services, like Tubi and Peacock, are becoming more popular, as consumers look for cost-effective ways to access quality content without the burden of monthly subscription fees. These platforms are integrating seamlessly with connected TV devices, offering advertisers new opportunities to engage with audiences. The shift towards free ad-supported content is not only altering the content consumption landscape but also attracting a wider range of viewers, including budget-conscious consumers.
What are Connected TV Market Dynamics?
The growth of the connected TV market is driven by the rapid expansion of streaming services and the increasing consumer demand for high-quality, on-demand content. As more people move away from traditional cable TV subscriptions in favor of streaming platforms, connected TVs offer a more flexible and accessible option for content consumption. Additionally, the rise in disposable income in emerging markets is allowing more consumers to invest in smart TVs, further propelling the market’s growth. The combination of a growing number of internet-enabled devices and enhanced broadband connectivity is ensuring that the demand for connected TVs will continue to rise.
Connected TV Market Opportunities:
The connected TV market presents significant opportunities in advertising, with the growth of targeted and interactive advertising being one of the most promising areas. As connected TV usage increases, advertisers are leveraging data from user interactions to create highly targeted ad campaigns. The ability to deliver personalized advertisements based on viewing habits allows for more relevant content to be shown to users, enhancing the effectiveness of marketing efforts. This has led to the rise of connected TV as a key platform for digital advertising, especially in the age of precision marketing.
What is Connected TV Market Regional Insight?
The connected TV market is witnessing strong growth across all major regions, with North America leading the charge due to its early adoption of streaming services and smart home technologies. In the U.S., the penetration of smart TVs is incredibly high, and platforms like Netflix, Disney+, and Hulu continue to dominate the market. The region is also a key player in the development of new technologies such as voice assistants and artificial intelligence integration in connected TVs. The ongoing shift from traditional cable TV to streaming has cemented North America’s position as a leading market for connected TV adoption.
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What is Connected TV Market Segmentation?
by Device Type
Smart TVs
Set-top Boxes
Streaming Sticks
Gaming Consoles
Media Streaming Devices
by Operating System
Roku OS
Android TV
webOS
Tizen
Fire TV OS
by Screen size
Less than 30 inches
30 inches to 50 inches
50 inches to 70 inches
Above 70 inches
by Screen
technology LED
OLED
QLED
by Resolution Type
4K
8K
1080p
by Sales Channel
Online retailer
Offline retailers
Hypermarkets and Supermarkets
Direct sales
by End-User
Residential
Commercial
Some of the current players in Connected TV Market are:
1.Roku (California, United States)
2.Amazon Fire TV (Washington United States)
3.Google Chromecast (California, United States)
4. Apple TV (California, United States)
5. Samsung Smart TVs (South Korea)
6.LG Smart TVs (Seoul, South Korea)
7. Sony Android TVs (Tokyo, Japan)
8. Xiaomi (China)
9.TCL (Guangdong, China)
10.Hisense (Shandong, China)
11.Skyworth (Guangdong, China)
12. Huawei (Guangdong, China)
13. NVIDIA Shield TV (California, United States)
14.Vizio Smart TVs (United States)
15. Panasonic Smart TVs (Osaka, Japan)
16.Philips Android TVs (Amsterdam, Netherlands)
17.Sharp Smart TVs (Sakai, Osaka, Japan)
18.Roku TV (California, United States)
19.Amazon Fire TV Edition (Washinton, United States)
20.Google TV (California, United States)
21.Android-based smart TVs (Various manufacturers worldwide)
22. Sony PlayStation consoles (Tokyo, Japan)
23.Microsoft Xbox consoles (Washington, United States)
24. AT&T TV (California, United States)
25.Comcast Xfinity X1 and Flex (Philadelphia, Pennsylvania, United States)
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Key Offerings:
- Past Market Size and Competitive Landscape
- Connected TV Market Size, Share, Size & Forecast by different segment
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Connected TV Market Segmentation – A detailed analysis by Product
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysisx
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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