Connected TV Market Set to Surge to USD 248.4 Billion by 2035 at 9.3% CAGR | Analysis Report by TMR

Rising disposable income and increased investment in electronic entertainment devices are driving the growth of the connected TV market.

WILMINGTON, DE, UNITED STATES, September 16, 2025 /EINPresswire.com/ -- The global Connected TV (CTV) market was valued at USD 85.9 billion in 2024 and is projected to reach USD 248.4 billion by 2035, growing at a robust CAGR of 9.3% from 2025 to 2035. The market expansion is driven by increasing internet penetration, rising consumer demand for on-demand content, advancements in smart TV technologies, and growing adoption of streaming services worldwide.

The connected TV market is poised for solid growth, driven by the synergy of internet connectivity and traditional viewing habits. Consumers are spending less time watching linear TV and spending more time with streaming services, thereby causing smart TVs and devices to become a consumer necessity and prime target for those interested in interactive and on-demand content.

The rapid growth of the connected TV ecosystem has created robust competition among hardware manufacturers, platform providers, and content distributors, with differentiation most commonly found within strategy around integrating content, user experience, and affordability.

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Improving the overall advertising landscape is accelerating as brands replace traditional advertising budgets with budgets allocated to connected TV platforms due to the incredibly efficient targeting capabilities, measurable outcomes, and overall better audiences. Market conditions for CTV surveyed indicate the foundation laid by COVID and technological advances suggests that the market will continue with hybrid models consisting of subscription models, ad-supported models, and free streaming supported by the immediacy and convenience of technology and consumer interest in flexible consumption.

Market Segmentation

The CTV market can be segmented across various dimensions, reflecting the diverse landscape of devices, services, and consumer behaviors.

By Device

Smart TV: The dominant segment, as smart TVs offer a seamless, all-in-one entertainment experience without the need for external devices.

Streaming Media Players: Devices like Roku, Amazon Fire TV Stick, and Apple TV, which convert traditional TVs into connected ones.

Gaming Consoles: Consoles like PlayStation and Xbox are also used as a way to stream content.

By Sourcing Type

Online: Includes e-commerce platforms and company-owned websites, which are gaining popularity due to convenience and competitive pricing.

Offline: Consists of physical retail stores like hypermarkets, electronics stores, and independent retailers, which are still important as consumers often want to see and test high-value products like TVs before purchasing.

By Application

Residential: The primary application, with CTVs serving as the central hub for home entertainment.

Commercial: Includes applications in hospitality, healthcare, and other industries for digital signage, in-room entertainment, and more.

By Industry Vertical

The market is increasingly segmented by the industries that are leveraging CTV for advertising and content delivery, such as:

Media and Entertainment: Streaming services, content creators, and broadcasters.

Retail and E-commerce: Utilizing CTV advertising for product placement and "shoppable" ads.

Telecom and IT: Internet service providers and technology companies enabling connectivity and devices.

Regional Analysis

The CTV market's growth is not uniform across all regions.

Asia Pacific (APAC): This region is a major growth driver and held the largest market share in 2024, with countries like India and China leading the charge.

The rapid digital transformation, increasing disposable incomes, and the expansion of broadband infrastructure are key factors. India, in particular, has seen an explosive 87% growth in its CTV user base in a single year, despite being a traditionally mobile-first market.

North America: This is a mature and leading market, with a high penetration of smart TVs and streaming services. The presence of major tech companies and advanced digital infrastructure makes it a hub for innovation.

Europe: While a significant market, its adoption of CTV advertising is uneven. Markets like the US lead, while countries like France and Germany lag behind in terms of CTV ad investment.

Middle East & Africa: This region is projected for the fastest growth, driven by increasing internet penetration and smartphone adoption.

Market Drivers and Challenges

Drivers 🚀

Growing Popularity of Streaming Platforms: The shift from linear TV to on-demand content is the single biggest driver. Consumers are "cutting the cord" for the control, flexibility, and variety offered by services like Netflix, Amazon Prime Video, and Disney+.

Technological Advancements: Innovations in display technology (OLED, QLED, 8K resolution), AI-powered content recommendations, and the integration of voice assistants are enhancing the user experience and driving adoption.

Shift in Advertising Budgets: Brands are reallocating budgets from traditional linear TV to CTV platforms because of the superior targeting capabilities, measurable outcomes, and higher audience engagement.

Challenges 🚧

High Data Consumption and Limited Infrastructure: In some regions, slow or unreliable internet infrastructure can lead to buffering and a poor viewing experience, hindering market growth.

Data Privacy and Ad Fatigue: Advertisers face challenges with user data privacy regulations (like GDPR and CCPA). Additionally, excessive and poorly targeted ads can lead to "ad fatigue," potentially limiting the effectiveness of campaigns.

Market Trends

Hybrid Monetization Models: The rise of ad-supported video-on-demand (AVOD) services and hybrid models that combine subscriptions with ads is a major trend. This provides consumers with more affordable options and increases ad inventory for platforms.

AI-Powered Personalization: AI is being used to deliver hyper-personalized content recommendations and tailored ads based on viewing history and preferences, which significantly improves user engagement.

Interactive and Shoppable Ads: Advertisers are moving beyond traditional 30-second spots to test interactive features, QR codes, and "shoppable overlays" that allow for seamless in-ad purchasing.

Future Outlook

The future of the CTV market is bright, with continued growth expected across all segments. We'll likely see further integration of CTVs into the broader smart home ecosystem, with TVs becoming central hubs for home automation and communication. The market will be defined by a balance between mass-reach advertising and precise, data-driven targeting. The convergence of content, advertising, and commerce will create new opportunities for brands and content creators.

Key Market Study Points

Device Dominance: Smart TVs held a 72% revenue share in 2024.

Resolution: 4K UHD accounted for 66% of the market share, while 8K is expected to grow at a significant CAGR.

Panel Technology: LED/Mini-LED is dominant due to its affordability, but OLED is growing rapidly in the premium segment.

Distribution: While offline retail still holds a significant share, online channels are expected to see faster growth.

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Competitive Landscape

The competitive landscape is dominated by major TV manufacturers, streaming platform providers, and ad-tech companies. Key players include:

Furrion, LLC
LG Electronics Inc.
Panasonic Corporation,
Samsung Electronics Co., Ltd.
Sansui Electric Co., Ltd.
Sanyo Electric Co., Ltd.
Sony Group Corporation
TCL Technology
Vizio Inc.
Xiaomi Corporation
Amazon
Google
Apple Inc.
Philips
Skyworth Group

The competition extends to operating systems (e.g., Android TV, Tizen, WebOS) and content ecosystems, where companies are vying for user attention and advertising dollars.

Recent Developments

In July 2025, LG Electronics India unveiled its new line of AI-powered OLED and QNED TVs, which are aimed at elevating the smart TV experience to a new standard.

In May 2025, Haier launched new big-screen OLED TVs designed to provide an immersive cinematic experience at home.

A recent report in September 2025 highlighted the explosive growth of the CTV user base in India, which surged by 87% in the past year, showcasing a significant shift in viewing habits in what was previously a mobile-first market.

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