Connected TV Market Size, Share & Industry Analysis, By Technology (LED, OLED, QLED, and Others), By Screen Size (Below 30 Inches, 30-50 Inches, 50-70 Inches, and Above 70 Inches), By Operating System (Android TV, Tizen OS, Web OS, and Others), By End-User (Household, Hotels, Offices, and Others), By Distribution Channel (Specialty Stores, Brand Stores, Online Channels, and Others), and Regional Forecast, 2025-2032

The global connected TV market size was valued at USD 229.09 billion in 2024. The market is projected to grow from USD 246.85 billion in 2025 to USD 371.17 billion by 2032, exhibiting a CAGR of 6.00% during the forecast period.

Connected TVs offer the advantages of on-demand online streaming, personalized content recommendations, and the ability to stream content across multiple devices. Such products offer cost-effective viewing options compared to traditional cable-based TVs and subscription fees. Technological advancements in models with upgraded screen resolution, graphics, voice-control features, and other AI-based features are encouraging tech savvy consumers to purchase such products, driving global CTV market growth. In January 2025, Samsung Electronics Co., Ltd. unveiled its flagship Neo QLED 8K QN990F, an upgrade to its Lifestyle TVs and future display technologies, at the CES 2025 First Look event.

Key companies operating in the global market include Samsung Electronics Co. Ltd., LG Electronics, Inc., TCL Technology Group Corp., Hisense Group Co., Ltd., and Sony Group Corporation. These players focus on conducting R&D activities related to the product designs to launch upgraded technology-based products. Additionally, they establish partnerships with emerging AI technology companies to develop innovative products.

MARKET DYNAMICS

MARKET DRIVERS:

Rising Adoption of Streaming Devices and OTT Platforms to Drive Product Demand

The rising adoption of streaming content servicing devices and OTT platforms is encouraging consumers to replace their existing traditional TVs with connected TVs, driving the global connected TV market growth. According to the Press Information Bureau (PIB), Government of India, as of 2024, OTT streaming platforms are serving around 600 million users in India. India’s Media & Entertainment (M&E) sector is projected to grow from USD 28.19 billion in 2024 to USD 33.83 billion in 2027. In addition, shifting consumer preferences toward buying IoT-based devices that deliver personalized content experiences to consumers, including smartphones, tablets, laptops, and TVs are favoring product revenue growth across many countries. Besides, the rising ad spend by brands to scale up the connected TV advertising and reach targeted audiences is also favoring market growth.

MARKET RESTRAINTS:

Data Security Concerns to Restrain Market Growth

Smaller established CTV platforms may offer services with weaker data privacy protection, which could lead to data theft issues. Increasing data security concerns regarding the use of such platforms are reducing the need for installing smart TVs, thereby restraining global market growth. In addition, the growing incidence of device hijacking through ad fraud schemes and other illegal activities is hampering product demand across many countries.

MARKET OPPORTUNITIES:

Rising Demand for Smart Housing Facilities to Increase Product Installation Rate

Rising demand for smart housing facilities increases consumer demand for installing smart TVs and accessories, creating new market growth opportunities. In addition, the growing number of single-person households opting for compact-sized connected TV (CTV) sets in their living spaces is driving product sales across many countries. Additionally, the evolving consumer’s product replacement rate for installing the latest technology-based products is positively contributing to market expansion.

CONNECTED TV MARKET TRENDS:

Increasing Number of Gamers Preferring TVs Compatible with Latest Gaming Platforms to Augment Market Growth

Video gamers seek connected TVs that are compatible with gaming platforms, including Google Stadia, Xbox Cloud Gaming, NVIDIA GeForce, and others. Users can easily connect their consoles to smart TVs and play video games seamlessly. The increasing number of video gamers opting for TVs compatible with gaming platforms is driving global market growth. In addition, consistent efforts by manufacturers to develop televisions integrated with gaming GPUs and NVIDIA G-Sync & AMD FreeSync technology systems are creating new industry growth prospects.

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MARKET CHALLENGES:

High Cost of Connected TVs Compared to Traditional Models to Challenge Market Expansion

The high cost of connected TVs with advanced features compared to traditional models is posing challenges to key players in building product revenues from this product category. Additionally, the high cost of repairing smart TVs and the need for consumers to invest in OTT platform subscription service packages are negatively impacting product demand among middle-income consumer groups.

Segmentation Analysis

By Technology

Cost-Effectiveness and Wider Adoption of LED TVs Led Dominance of LED Segment

By technology, the market is segmented into LED, OLED, QLED, and others.

The LED segment exhibited a leading global market share of 53.61% in 2024. The dominance of the LED segment is attributed to the cost-effectiveness and broader price-sensitive consumer base of LED TVs across many countries. In addition, the wide availability of LED televisions in different screen sizes, compared to counterpart technology models, is generating considerable revenues from this segment.

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The others segment, including various technology models such as Micro-LEDs, Mini-LEDs, and Dual-Cell Models, is projected to grow at the fastest CAGR of 13.02% during the forecast period of 2025-2032. The segment’s fastest growth is attributed to the rising demand for innovative LED technology, advanced backlighting systems, and foldable screen technology-based models in the hospitality and official facilities sectors globally. Furthermore, consistent advancements in the development of mini-LED screen models are favoring segmental revenue growth.

By Screen Size

High Households’ Preference for Compact-Sized Televisions Led Dominance of 30-50 Inches Segment

By screen size, the market is segmented into below 30 inches, 30-50 inches, 50-70 inches, and above 70 inches.

The 30-50 inches segment exhibited a leading global market share of 56.63% in 2024. Households with compact TV space requirements primarily prefer TVs measuring 30 to 50 inches. The segment’s dominance is attributed to the high demand from households for Televisions of 30-50 inches in size. Additionally, increasing consumers' access to 30-50-inch television models featuring 4K Ultra HD content availability is driving segmental revenue growth.

The above 70 inches segment is projected to grow at the fastest CAGR of 10.63% from 2025 to 2032. Its fastest growth is attributed to increasing consumer preferences for immersive home theater experiences, which necessitate the installation of television sets equipped with high-end technologies such as 4K/8K resolution, OLED, and MicroLED displays, exceeding 70 inches. Furthermore, the rising luxury home renovation trends are accelerating the demand for television sets with screen sizes above 70 inches among households globally.

By Operating System

Wider Consumer Base of Android-based TV Users Led Android TV Segment to Hold a Leading Market Share

Based on the operating system, the market is segmented into Android TV, Tizen OS, Web OS, and others.

The Android TV segment exhibited a leading global market share of 46.15% in 2024. The segment is projected to grow at a fastest rate of 6.97% during 2025-2032. Android-based television models offer a wider range of applications that can be accessed on larger screens. The growing internet connectivity and high consumer demand for online streaming services, including Netflix, YouTube, and others, as well as fitness applications, is generating considerable product revenues from this segment. Furthermore, the smoother performance, user-friendly interface, and regular software updates of Android systems are encouraging consumers to purchase Android-powered products, positively contributing to the segment’s growth.

The others segment covering the analysis on various operating system segments, including Amazon Fire TV, Roku OS, HarmonyOS, and Linux, is slated to grow at a fastest CAGR of 6.08% during the forecast period of 2025-2032. The segment’s fastest growth is attributed to the consistent other operating system-based television makers with retail ecosystems and content partners globally.

By End-User

High Smart TV Penetration Led to Dominance of Household Segment

Based on end-user, the market is segmented into household, hotels, offices, and others.

The household segment exhibited a leading global market share of 84.46% in 2024. The segment is projected to grow at a fastest rate of 6.26% during the forecast period of 2025-2032. Connected television sets are an integral part of home systems. The segment’ leading global market share is attributed to the wider adoption of smart television sets among households globally. Furthermore, the growing demand for housing apartments, condominiums, and other forms of housing facilities, which require the installation of smart television sets, is favoring segmental growth.

The offices segment is projected to grow at the second-fastest CAGR of 5.60% during the forecast period of 2025-2032. The rising adoption of larger screen-sized television sets compatible with digital signage tools, video conferencing, presentations, and virtual meetings is primarily driving the segmental growth. Furthermore, the growing number of corporate facilities and governmental assistance in building corporate infrastructural hubs is positively contributing to the segment’s growth.

By Distribution Channel

Product Demonstrations and Superior Expert Advice Led Dominance of Specialty Stores Segment

Based on distribution channel, the market is segmented into specialty stores, brand stores, online channels, and others.

The specialty stores segment held a leading global market share of 44.69% in 2024. The segment’s leading share is due to the consistent provision of hands-on product demonstrations and expert advice by specialty stores, generating considerable product sales from these stores. Furthermore, consistent base expansion activities by specialty retailers are strengthening product sales internationally and favoring segmental revenue growth.

The rising adoption of online shopping for luxury home systems among households is primarily driving the online channels segment at a rate of 7.68% during 2025-2032. Furthermore, improved logistics, payment methods, and return policies related to online shopping are positively contributing to the growth of online product sales.

Connected TV Market Regional Outlook

By geography, the market is categorized into North America, Europe, Asia Pacific, South America, and Middle East & Africa.

ASIA PACIFIC

The Asia Pacific region exhibited a leading global connected TV market share of 38.58% in 2023. The region’s market size is estimated to reach USD 89.46 billion in 2024 and is projected to grow at a fastest rate of 7.23% during 2025-2032. A wider household consumer base across China, India, and Southeast Asia led to considerable product revenue generation from the region. Rising residential & commercial infrastructure settings, along with the increasing adoption of connected technology-based home devices among middle- and upper-income household groups, are favoring the region’s market growth.

The Chinese market size reached USD 34.05 billion in 2025. Robust electronic manufacturing facilities, a widespread consumer base, and consistent governmental initiatives aimed at promoting the electronic manufacturing industry and digital transformation are generating product revenues across China. The proliferation of AI-based TVs compatible with 5G technologies is favoring the growth of the Chinese market.

NORTH AMERICA

The North America region exhibited a second leading global market position in 2024. The wider adoption of online streaming services and high consumer demand for televisions featuring voice control and enhanced resolution are generating product revenues across the U.S. and Canada. In addition, the growing infrastructure facilities related to specialty electronic retailers and brand outlets are positively contributing to product sales across Canada and Mexico.

The U.S. market size reached USD 47.18 billion in 2024. The high demand for AI-powered home systems and consistent efforts by manufacturers to launch innovative products are positively contributing to the U.S. market expansion. In addition, the growing home renovation trends are expected to increase households’ demand for the newer technology-based products, favoring U.S. market growth.

EUROPE

The European region held a third-leading global market share in 2024. The increasing consumer preference for immersive home entertainment experiences and the rising demand for energy-efficient television sets among household and hospitality consumers are favoring Western European market growth. Furthermore, the growth of hospitality and official infrastructural facilities is positively contributing to product demand across Russia and the Eastern European region.

SOUTH AMERICA and MIDDLE EAST & AFRICA

Over the global market forecast period, the market in the South America and Middle East & Africa regions is expected to witness a moderate growth rate from 2025 to 2032. The South America market in 2025 is set to reach a valuation of USD 14.91 billion. Increasing urbanization and the growing number of middle-income households in Brazil, Colombia, Argentina, and are mainly driving the South American market growth.

The expansion of hospitality & corporate infrastructure facilities, along with the rising number of upper-income household groups across the UAE, Saudi Arabia, Qatar, and South Africa, is driving product demand in these countries. In the Middle East & African market, the UAE is expected to reach a market value of USD 3.71 billion by 2025.

COMPETITIVE LANDSCAPE

Key Industry Players:

Consistent Product Innovation and Retail Base Building to Help Key Players Maintain Competitive Market Position.

The global market is highly competitive, with leading players including Samsung Electronics Co., Ltd., LG Electronics, Inc., TCL Technology Group Corp., Hisense Group Co., Ltd., and Sony Group Corporation. These players exhibit considerable market shares across global markets. These players focus on strengthening the innovative product portfolio by investing in R&D activities. In addition, they establish partnerships with global specialty retailer firms or open new brand outlets to increase product reach across global markets. For instance, in March 2023, Samsung Electronics Co. Ltd. opened a network of 1,700 brand stores located across India. These stores offer a wide range of premium home products, including televisions, smartphones, and other electronic devices.

LIST OF KEY CONNECTED TV COMPANIES PROFILED:

• Samsung Electronics Co. Ltd. (South Korea)
• LG Electronics, Inc. (South Korea)
• TCL Technology Group Corp. (China)
• Hisense Group Co., Ltd. (China)
• Sony Group Corporation (Japan)
• Xiaomi Corporation (China)
• Skyworth Group Co., Ltd. (China)
• VIZIO Inc. (U.S.)
• Koninklijke Philips N.V. (Netherlands)
• Panasonic Corporation (Japan)

KEY INDUSTRY DEVELOPMENTS:

• July 2025: Movistar Plus+ launched Titan OS-powered Philips Smart TVs in the Spanish market. Through such an offering, Spanish households will gain access to premium entertainment content from the television’s operating systems.
• September 2025: VIDAA International Holdings B.V. established a partnership with Hisense and Deutsche Telekom's MagentaTV service. The partnerships enable the company to eliminate external hardware requirements by integrating television programming and streaming services into smart TV operating systems.
• May 2025: Samsung Electronics Co., Ltd. launched the ultra-premium 2025 models of Neo QLED 8K, Neo QLED 4K, OLED, and QLED TVs, as well as the Frame lineup in India. These products are equipped with Vision AI technology, which delivers a seamless home entertainment experience to users.
• January 2023: Xumo, a streaming platform, established a joint venturing agreement with Comcast and Charter to develop next-generation 4K streaming devices and smart TVs.

REPORT COVERAGE

The global connected TV market analysis provides an in-depth study of market insights, size, and forecast by all the market segments included in the report. In addition, the report on the market outlooks, market dynamics and market trends expected to drive the market during the forecast period is also included. It offers information on the technological advancements, new product launches, key industry developments, and details on partnerships, mergers & acquisitions. The research report also encompasses a detailed competitive landscape with information on the market share and profiles of key operating players.

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Report Scope & Segmentation