Connected Tv Market Size, Share, Industry Trends and Forecast to 2030

Connected Tv Market Size & CAGR in 2021

The global connected TV market is expected to witness a growth rate of 8.5% CAGR from 2021 to 2026. The market size is anticipated to reach USD 175.5 billion by the end of 2026. Connected TVs, also known as smart TVs, are televisions that are internet-enabled, allowing users to stream content from various online platforms.

COVID-19 Impact on the Connected Tv Market

The COVID-19 pandemic has significantly accelerated the adoption of connected TVs worldwide. With lockdowns and restrictions in place, people turned to streaming services for entertainment at home. This led to a surge in demand for smart TVs, boosting the connected TV market.

Connected Tv Dynamics

The connected TV market is driven by factors such as the increasing popularity of OTT platforms, rising demand for high-quality video content, and advancements in technology. Smart TVs offer features like voice control, smart home integration, and personalized recommendations, enhancing the viewing experience for users.

Segments and Related Analysis

1. By Device Type

a. Smart TVs

b. Set-Top Boxes

c. Gaming Consoles

2. By Content Type

a. Video on Demand

b. Live Streaming

c. Others

By Region Analysis

1. North America

North America is a key region in the connected TV market, driven by the presence of major players like Apple, Roku, and Amazon. The high adoption of streaming services and technological advancements contribute to the market growth in this region.

2. Europe

Europe has a significant market share in the connected TV market, with countries like the UK, Germany, and France leading in adoption. The region's strong broadband infrastructure and increasing demand for online content drive market growth.

3. Asia Pacific

The Asia Pacific region is witnessing rapid growth in the connected TV market, fueled by the increasing penetration of smart devices and rising disposable incomes. Countries like China, Japan, and India are major contributors to the market expansion.

Key Market Players and Competitive Landscape

Some of the key players in the connected TV market include Samsung, LG Electronics, Sony Corporation, Xiaomi, and TCL. These companies focus on innovations, partnerships, and product launches to strengthen their market position and meet consumer demands.

Recent happenings in the Connected Tv Market

1. In April 2021, Samsung introduced its new range of smart TVs with enhanced features for seamless connectivity and user experience.

2. LG Electronics announced a partnership with Google to integrate the Google Assistant into its smart TV models, offering users voice control and smart home integration.

3. Sony Corporation launched its Bravia smart TV series with advanced picture quality enhancements and a wide range of streaming options for users.

4. Xiaomi unveiled its Mi TV lineup with AI-powered features and content recommendations, catering to the evolving needs of consumers in the connected TV market.

5. TCL introduced its 8K QLED TV models with cutting-edge technology and innovative design, targeting tech-savvy consumers looking for premium viewing experiences.