Connected TV Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2025-2034

The Global Connected TV Market was valued at USD 85.4 billion in 2024 and is projected to expand at a robust CAGR of 8% from 2025 to 2034. This steady growth is fueled by the surging popularity of streaming platforms such as Netflix, Hulu, Amazon Prime Video, and Disney+. As more consumers shift away from traditional cable and satellite subscriptions in favor of on-demand digital content, connected TVs have become the preferred medium for modern home entertainment. The increasing availability of high-speed internet and the growing adoption of smart home ecosystems further accelerate market expansion. With enhanced features such as 4K and 8K resolution, voice assistant integration, and AI-driven content recommendations, connected TVs are revolutionizing how users access entertainment, providing a seamless and personalized viewing experience.

The shift toward internet-based television consumption has transformed the TV industry, driving significant investments from manufacturers and tech companies. Smart TV penetration is rising as consumers seek feature-rich devices that integrate seamlessly with other smart home products. Advancements in artificial intelligence and machine learning enable connected TVs to offer tailored content recommendations, optimizing the viewing experience. Meanwhile, streaming service providers continue to expand their offerings with exclusive content, further enticing consumers to invest in high-quality smart TVs. These trends are expected to sustain the market's upward trajectory, solidifying the dominance of connected TVs in the entertainment sector.

The market is segmented based on screen size, with the 30 to 50-inch category leading in revenue. Valued at USD 35.4 billion in 2024, this segment is projected to reach USD 80.1 billion by 2034, making it the most preferred choice for households. This screen size strikes an optimal balance between affordability and immersive viewing, catering to a diverse consumer base. With streaming platforms offering more 4K Ultra HD content, the demand for televisions in this category continues to grow. Mid-sized smart TVs are particularly popular in urban homes, where space constraints require a compact yet high-quality entertainment solution.

From a technology standpoint, LED-based connected TVs hold the dominant market share, accounting for 60.5% in 2024. These TVs remain a top choice due to their energy efficiency, durability, and cost-effectiveness. The widespread availability of LED TVs in various price ranges and screen sizes makes them highly accessible to consumers across different income groups. Meanwhile, OLED technology, known for delivering superior picture quality with deep blacks, high contrast, and vibrant colors, continues to gain traction among premium buyers. Despite its higher price point, OLED displays are expected to see increasing adoption, driven by growing consumer interest in high-end home entertainment systems.

U.S. Connected TV Market is witnessing an annual CAGR of 8.3%, reflecting strong consumer demand for advanced, tech-savvy entertainment devices. Features such as 4K and 8K HDR support, seamless integration with voice assistants like Alexa, Google Assistant, and Siri, and enhanced smart home connectivity make connected TVs an essential part of modern households. The growing penetration of high-speed broadband and expanding library of exclusive streaming content further contribute to market growth. As more consumers prioritize convenience, functionality, and premium viewing experiences, the demand for connected TVs is expected to rise consistently, cementing their role as the future of home entertainment.