In 2023, connected TV (CTV) advertising spending in the United States was expected to grow by 21.2 percent, to reach an expenditure of 25.09 billion U.S. dollars. Advertising on CTVs is a growing trend combining the ease of online advertising and reach of TV. Tailored, skippable ads can be served to target audiences while they are streaming video content on their TVs.

In 2022, 111 million households in the United States used connected TVs at least once per month. The forecast suggests that CTV consumption will further increase in the years to come, with 121 million U.S. households having CTVs, such as smart TVs, streaming devices, or gaming consoles, by 2027.

The Report Covers Connected TV Companies Statistics, and It is Segmented by Device (smart TV, Streaming Media Player) and Geography (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa). The Market Size and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

Around seven in 10 American consumers watch television or video content via connected TV, according to a September 2024 survey. Baby boomers were the most likely generation to use the device, with 76 percent of them watching programming via CTVs.

In 2024, connected TV (CTV) advertising spending in the United States amounted to 28.79 billion U.S. dollars. Advertising on CTVs is a growing trend combining the ease of online advertising and the reach of TV. Tailored, skippable ads can be served to target audiences while they are streaming video content on their TVs. At the current pace, CTV ad spend is expected to grow to 46.89 billion dollars by 2027. Marketers shift finances into CTV amid brand safety concerns U.S. marketers have been duly following the CTV boom, with nearly 40 percent of them reallocating budgets from non-video digital ads in favor of CTV. However, not all is rosy in CTV-land, with four out of 10 American marketers citing brand safety as a concern with the medium. Who are the largest CTV spenders? In 2023, the largest share of CTV ad spend in the U.S. was claimed by Disney-owned Hulu, with YouTube and Roku on its heels. While these three key platforms collectively nabbed almost 40 percent of ad spending, CTV ad views were ruled by Roku, with its devices securing almost half of the ad views originating from CTV devices across the country.

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Access connected TV data for broadcast media and entertainment professionals worldwide with Success.ai. Includes verified contact numbers, email addresses, and location data from 700M+ profiles. Best price guaranteed.

The connected TV penetration rate in the United States rose to an all time high in 2023, with 88 percent of American households owning at least one internet-connected TV device. Since 2014, there has been consistent growth, except for the year 2019. However 2020 indicates the growth returning, with an increase of six percentage points from 2019 to 2020.

As of 2023, the number of households in India that owned connected TV sets amounted to 32 million. An increase from the previous year, the trend was projected to continue until 2025. Connected TV or CTV refers to a television or device directly connected to the internet and can stream content, such as smart TVs, streaming media player devices, gaming consoles, and internet-enabled set-top-boxes. What is Connected TV? A connected TV refers to any television set that can connect to the internet, enabling users to stream content from various online platforms and services. There are two main types of connected TVs: smart TVs and TVs with external streaming devices. Smart TVs come with built-in internet connectivity and pre-installed apps, allowing users to access streaming services such as Netflix and YouTube directly, without the need for any additional devices. In contrast, TVs with external streaming devices are standard televisions that connect to the internet through external devices like Roku, Amazon Fire Stick, or Apple TV, which provide access to streaming services and applications. Shifting television landscape The number of households with internet access has increased significantly over the years and is expected to continue rising. Correspondingly, the number of households with connected TVs in India has also increased. This increase in connected TV households coincides with a decline in traditional pay TV subscriptions. In 2023, cable television subscriptions dropped to 62 million, and direct-to-home services also saw a slight decrease. This shift can be attributed to viewers transitioning to free TV options, digital streaming platforms, and connected TVs. Additionally, smart TVs were the most commonly used devices for consuming television content in India as of 2023.

The US Smart TV Market Report is Segmented by Screen Size ((Diagonal) Up To 45 Inches, 45-55 Inches, 55 Inches and Above), Resolution Type (4K and Above UHD TV, Full HD TV, HDTV), Panel Type (LCD/LED, OLED, QLED), Pricing Range (Under USD 1000, USD 1000 To USD 2000, USD 2000 To USD 3000, USD 3000 and Above), Operating Segment (Android, Tizen, Webos, Roku, Other Operating Systems). The Market Size and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

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Smart TV Market Size 2025-2029

The smart TV market size is forecast to increase by USD 149.5 bn at a CAGR of 16.8% between 2024 and 2029.

The market is experiencing significant growth, driven by technological advancements in TV resolution and the increasing influence of digital media on advertising and marketing. With the rise of high-definition and 4K TVs, consumers are demanding more advanced features, leading to innovations in display technology. Additionally, the digital media landscape is shifting towards streaming services and on-demand content, making smart TVs an essential device for accessing this content. However, concerns over security and privacy are emerging as challenges for the market. Smart TVs, with their internet video streaming capabilities, operating systems, and voice command features, have become essential devices for engaging viewing experiences. As consumers become more aware of data collection and usage, manufacturers must prioritize measures to protect user information and ensure transparency. Moreover, the ongoing evolution of technology and the increasing popularity of OTT services are driving demand for smart TVs, making it an exciting and competitive market to watch. Overall, the market is poised for continued growth, with technological innovations and changing consumer preferences shaping its future trajectory.

What will be the Size of the Smart TV Market During the Forecast Period?

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The market is experiencing significant growth as consumers increasingly seek engaging, convenient home entertainment solutions. This market encompasses over-the-top (OTT) services, TV content creators, and various OTT and streaming platforms. Smart TVs, characterized by their internet connectivity and advanced features like voice command, screen mirroring/sharing, and video calling, dominate this sector. Movie producers and movie theaters are also embracing this technology, offering high-dynamic range (HDR) content and theater-like viewing experiences. Key trends include the adoption of large-screen television sets with high-definition picture quality, Dolby Atmos sound, and wide viewing angles. Consumers are drawn to the screen size-to-price value, with discount offers and price differences influencing buying decisions.
The integration of OTT services and the ability to access a vast array of content from various platforms have further fueled the market's growth. Overall, the market is dynamic and evolving, catering to consumers' increasing spending capacity and demand for premium home theater experiences.

How is this Smart TV Industry segmented and which is the largest segment?

The smart TV industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Distribution Channel

  Offline
  Online


Application

  Below 32 inches
  32 to 45 inches
  46 to 55 inches
  56 to 65 inches
  Above 65 inches


Type

  4K
  Full HD
  HD
  8K


Display Type

  LED
  OLED
  QLED


Geography

  APAC

    China
    India
    Japan
    South Korea


  Europe

    Germany
    UK
    France


  North America

    Canada
    US


  South America



  Middle East and Africa

By Distribution Channel Insights

The offline segment is estimated to witness significant growth during the forecast period.

The market is experiencing significant growth due to the increasing popularity of Over-the-top (OTT) services and content creators. OTT platforms and streaming services have expanded the TV content landscape, providing consumers with a wider range of options beyond traditional movie producers and movie theaters. Affordable products, including entry-level smart TVs, have made high-definition picture quality and detailed image resolution accessible to a larger consumer base. High-end smart TVs with larger screen sizes, 8K TV segment, Dolby Atmos sound, and high-dynamic range (HDR) offer added depth and a premium feel.

Screen mirroring/sharing, video calling, and educational applications further enhance the functionality of these devices. The market's growth is driven by the increasing affordability of smart TVs, reduced price disparity between distribution channels, and the growing spending capacity of consumers. New market entrants continue to innovate, offering various screen sizes, shapes, and installation options, including walls and home theaters. Despite the competition, the market remains dynamic, with ongoing advancements in display panels, parts, and product prices. The market is poised for continued growth, fueled by technological advancements, consumer demand, and the increasing affordability of high-end products. The integration of OTT services, voice command, and other advanced features has transformed the TV viewing

As of 2022 ad expenditure on connected TV or CTV in India amounted to more than 50 million U.S. dollars. The trend was projected to follow an upwards trajectory over the next five years, with CTV ad spends almost touching 400 million U.S. dollars by 2027.

Connected TV refers to a television connected to the internet that allows consumers to stream content. It includes devices such as smart TVs or Amazon firesticks.

In 2024, connected TV programmatic advertising spending in the United States was projected to reach 25.3 billion U.S. dollars. In the same year, total programmatic ad expenditures in the U.S. were expected to stand at 244 billion U.S. dollars.

The penetration rate of smart TVs in the United States amounted to 79 percent as of 2024 and was thus more popular than streaming media players. The penetration rates of both smart TVs and connected streaming devices in U.S. TV households increased compared with 2021.

About 39.4 million households in Japan owned internet-connectable televisions in fiscal year 2023. The number of households owning such TVs, which in this case also included TVs that can be connected via other devices, such as Blu-ray players and gaming consoles, was expected to increase to more than 50 million by fiscal year 2030.

In 2023, connected TV (CTV) advertising spending in Spain amounted to 79 million euros. In 2023, CTV ad spending in Spain increased by 98.6 percent compared to the value reported in the previous year.

A survey conducted in the United States in 2023 revealed that most CTV viewers were between the ages of 18 and 34 years, with nearly two thirds of respondents using these devices on a daily basis. Meanwhile, 27 percent of people aged over 55 years watched videos via connected TVs every day.

Connected TV advertising revenue worldwide was forecast to add up to 38.3 billion U.S. dollars in 2024, marking an increase from the previous year's value of 31.92 billion.

This statistic shows the number of connected TV users in the United States from 2015 to 2022. In 2019, it is projected that there would be 190 million connected TV users in the United States.

Roku was the leading streaming TV platform in the United States in the first quarter of 2019. During the measured period, Roku media streamers and Roku-based smart TVS accounted for the lion's share of over 30 percent of all connected TV device sales in the U.S.

The rise of Roku
A Roku is a digital media player device that allows users to stream content from a number of original channels, cable networks, entertainment apps, and third-party providers like Netflix and Hulu. These devices deliver OTT (over-the-top) video content via the users’ internet connection – to great success: in the United States, Roku Inc. reported close to 30 million monthly active users in the first quarter of 2019 and an annual revenue of over 325 million U.S. dollars in 2018.

Connected TV devices in the United States
Connected TVs (CTVs) are television devices that either have a build-in internet connection or are paired with an external web-enabled device like a Roku. This technology is enjoying great popularity in the United States, where an estimated 203 million people used connected TV devices in 2019. This figure is expected to increase in the following years, with roughly 45 percent of U.S. CTV users projected to stream content via a Roku device.