The Connected TV Market Report is Segmented by Device (Smart TV, Streaming Media Player, and More), Operating System (Android TV/Google TV, Tizen, Webos, and More), Screen Size (Up To 32 Inch, 33-45 Inch, 46-55 Inch, and More), Resolution (4K UHD, 8K, FHD and HD), Panel Technology (LED/Mini-LED, OLED, and QLED), Distribution Channel (Online, and Offline), and Geography. The Market Forecasts are Provided in Terms of Value (USD).

In 2021, advertising revenue generated by Hulu in the United States was expected to grow by **** percent. In general, connected TV (CTV) advertising spending in the U.S. was expected to grow by **** percent, to reach an expenditure of **** billion. 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.

Around ***** 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 ** percent of them watching programming via CTVs.

The connected TV penetration rate in the United States rose to an all-time high in 2023, with ** percent of American households using internet-connected TV devices at least once a month. Since 2014, there has been consistent growth, and further increase is suggested for the upcoming years.

The Connected TV (CTV) Ads Solutions market has emerged as a pivotal segment of the advertising industry, transforming the way brands reach their audiences in the age of digital streaming. With more households adopting Smart TVs and streaming devices, advertisers are increasingly leveraging CTV to engage viewers thr

The US Smart TV Market report segments the industry into By Screen Size (Diagonal) (Up to 45 Inches, 45-55 Inches, 55 Inches and above), By Resolution Type (4K and above UHD TV, Full HD TV, HDTV), By Panel Type (LCD/LED, OLED, QLED), By Pricing Range (Under USD 1,000, USD 1,000 to USD 2,000, USD 2,000 to USD 3,000, USD 3,000 and Above), By Operating Segment (Android, Tizen, WebOS, Roku, Other Operating Systems).

The penetration rate of smart TVs in the United States amounted to ** 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.

The Connected TV (CTV) Advertising Services market has rapidly evolved into a significant segment of the advertising industry, capitalizing on the increasing prevalence of smart TVs and streaming services. As consumers shift their viewing habits from traditional television to internet-enabled platforms, advertisers

The Connected TV (CTV) Advertising Platforms Software market has emerged as a dynamic component of the digital advertising landscape, enabling brands to reach their audiences in innovative ways through Internet-connected television devices. As viewing habits shift from traditional cable to streaming services, CTV ad

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Smart TV Market Size 2025-2029

The smart TV market size is valued to increase USD 149.5 billion, at a CAGR of 16.8% from 2024 to 2029. Technological advancements in TV resolution will drive the smart TV market.

Major Market Trends & Insights

APAC dominated the market and accounted for a 59% growth during the forecast period.
By Distribution Channel - Offline segment was valued at USD 61.50 billion in 2023
By Application - Below 32 inches segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 248.80 billion
Market Future Opportunities: USD 149.50 billion
CAGR from 2024 to 2029 : 16.8%

Market Summary

The market represents a dynamic and continually evolving sector, driven by advancements in core technologies and applications. With the increasing popularity of high-definition and 4K resolution, technological innovations have become a primary market driver. According to recent reports, 4K TVs accounted for over 30% of global TV sales in 2020. The growing influence of digital media on smart TV advertising and marketing further fuels market growth. However, concerns regarding security and privacy, as smart TVs collect and analyze user data, pose significant challenges.
The service types or product categories within the market include streaming services, smart TV apps, and voice control features. Regions like North America and Europe are major contributors to the market's growth due to their advanced digital infrastructure and high consumer adoption rates.

What will be the Size of the Smart TV Market during the forecast period?

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How is the Smart TV Market Segmented ?

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

  North America

    US
    Canada


  Europe

    France
    Germany
    UK


  APAC

    Australia
    China
    India
    Japan
    South Korea


  Rest of World (ROW)

By Distribution Channel Insights

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

The market is experiencing significant growth, with high-end smart TVs gaining increasing popularity due to the proliferation of OTT streaming services in key regions like the US, India, and China. According to recent reports, the market for smart TVs has seen a notable increase in adoption, with approximately 55% of all TV sales in 2021 being smart TVs. Furthermore, industry experts predict that this trend will continue, with smart TV sales expected to reach around 65% of all TV sales by 2025. Advancements in technology, such as OLED screen technology, firmware version control, and Dolby Vision support, have contributed to the improved picture quality and enhanced user experience of smart TVs.

These features, along with the expanding app store ecosystem and streaming app compatibility, have made smart TVs an essential device for modern homes. Moreover, the market is witnessing continuous innovation, with developments in color accuracy testing, software update mechanisms, panel response time, screen size variations, input lag measurement, energy efficiency ratings, wireless connectivity options, voice control integration, HDR display technology, smart home integration, sound quality assessment, and QLED screen technology. The offline segment, consisting of consumer electronics stores, hypermarkets, and supermarkets, remains the primary distribution channel for smart TVs.

Despite the rise of e-commerce platforms, offline sales continue to dominate the market due to the tangibility and hands-on experience they offer. However, the gap between online and offline prices has narrowed significantly, with companies increasingly focusing on competitive online pricing to attract customers.

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The Offline segment was valued at USD 61.50 billion in 2019 and showed a gradual increase during the forecast period.

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Regional Analysis

APAC is estimated to contribute 59% to the growth of the global market during the forecast period.Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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In the Asia Pacific (APAC) region, India and China emerged as significant consumers in the market by 2024. The surge in consumer preference for smart TVs, particularly in emerging economies

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

As of 2025, the number of households in India that owned connected TV sets amounted to ** million. This was a remarkable growth over the past three years. 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 ** 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.

In 2024, connected TV (CTV) advertising spending in the United States amounted to ***** 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 ***** 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 ** percent of them reallocating budgets from non-video digital ads in favor of CTV. However, not all is rosy in CTV-land, with ************** 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 ** 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.

The Smart TV Platforms market has experienced significant growth in recent years, driven by the increasing consumer demand for integrated and interactive entertainment solutions. Smart TVs, which are equipped with internet connectivity and advanced computing capabilities, allow users to access a multitude of streami

Connected TV programmatic display advertising spending was forecast to increase by **** percent in the United States 2021. In dollars value, that would signify an increase in expenditure from ***** billion to **** billion U.S. dollars between 2020 and 2021.

The Smart TV Terminal market has seen significant evolution and expansion over the past decade, responding to the surge in demand for integrated entertainment solutions. Smart TV Terminals serve as central hubs for streaming, gaming, and online browsing, providing users with seamless access to a plethora of digital

In 2024, connected TV (CTV) advertising spending in Spain amounted to ***** million euros. In 2024, CTV ad spending in Spain increased by **** percent compared to the value reported in the previous year.

YouTube was the app American consumers spent the most time with on connected TV in the first quarter of 2024, with a share of ** percent of the total connected TV viewing time. That means that the ad-supported streaming service surpassed hybrid video-on-demand platform Netflix.

This statistic shows the share of connected TV users by segment in the United States from 2015 to 2020. In 2015, smart TV users accounted for **** percent of connected TV users in the United States.