The global connected TV (CTV) market is undergoing rapid transformation as streaming platforms, digital advertising, and smart technologies redefine how audiences consume content. Valued at US$ 85.9 Bn in 2024, the global connected TV industry is projected to grow at a robust CAGR of 9.3% from 2025 to 2035, reaching approximately US$ 248.4 Bn by the end of 2035.

The shift from traditional linear television to internet-enabled viewing experiences is fundamentally reshaping the global entertainment ecosystem.

Market Overview

Connected TVs—commonly known as smart TVs—combine traditional television functionality with internet connectivity. These devices allow users to stream movies, TV shows, music, and live content while also enabling web browsing and app integration. By merging computing power with digital media capabilities, connected TVs have become central to modern home entertainment systems.

The growing disposable income of consumers, along with increased investment in advanced entertainment devices, is accelerating adoption. Features such as AI-powered recommendations, voice assistants, motion controls, and IoT integration are enhancing user engagement and making smart TVs indispensable in connected households.

Key Growth Drivers

Rise of Streaming Platforms

The explosive growth of streaming services is one of the primary drivers of the connected TV market. Consumers are increasingly cutting the cord on traditional cable subscriptions in favor of on-demand platforms that provide flexibility and personalized viewing options.

Streaming platforms offer diverse content libraries, including movies, series, sports, and niche programming, giving viewers complete control over what and when they watch. As a result, households are increasingly opting for connected TVs with built-in streaming apps for seamless access.

This shift also impacts advertisers, who are reallocating budgets from traditional broadcast TV to CTV platforms to follow digital audiences.

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Growth in Digital Advertising

Connected TV advertising has emerged as a game-changer in the media industry. Unlike traditional TV advertising, which targets broad audiences, CTV enables precise targeting based on user behavior, preferences, and geography.

Brands benefit from measurable outcomes, improved return on investment, and enhanced audience engagement. Interactive ad formats further elevate viewer experience while providing valuable data insights to advertisers. As advertising models evolve, device manufacturers and platform providers are generating significant revenue through ad-supported streaming ecosystems.

Screen Technology Trends

Flat screen TVs dominate the connected TV landscape. Technologies such as LED, OLED, and QLED offer ultra-high-definition visuals, slim designs, and enhanced color accuracy. Falling production costs and increasing affordability of large-screen models are encouraging wider adoption.

Continuous innovation from leading manufacturers such as Samsung Electronics Co., Ltd., LG Electronics Inc., Sony Group Corporation, and TCL Technology is accelerating technological advancement and consumer adoption.

Regional Outlook

Asia Pacific is emerging as the leading region in the global connected TV market. Rapid digital transformation, expanding broadband infrastructure, and growing demand for OTT content are driving growth across countries such as China, India, South Korea, and Southeast Asia.

Increasing smartphone penetration and declining hardware prices are making connected TVs more accessible in both urban and rural markets. Additionally, regional content providers are offering localized programming, further boosting adoption.

North America and Europe also represent mature markets, supported by high streaming penetration and strong advertising investments.

Competitive Landscape

The connected TV market is highly competitive, with key players including Panasonic Corporation, Vizio Inc., Xiaomi Corporation, Apple Inc., and Google. Companies are differentiating themselves through content partnerships, bundled services, AI integration, and competitive pricing strategies.

Future Outlook

With hybrid subscription and ad-supported models gaining momentum, the connected TV ecosystem is set for sustained growth through 2035. As consumers continue to demand flexibility, personalization, and immersive viewing experiences, connected TVs will remain at the heart of the digital entertainment revolution.