Connected Television (TV) Global Market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033

The Business Research Company’s Connected Television (TV) Global Market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033

LONDON, GREATER LONDON, UK, June 19, 2024 /EINPresswire.com/ -- The connected television (TV) market, which includes televisions connected to the internet for accessing digital content, is experiencing rapid expansion. It is projected to grow from $13.67 billion in 2023 to $15.53 billion in 2024, marking a compound annual growth rate (CAGR) of 13.6%. It will grow to $26.12 billion in 2028 at a compound annual growth rate (CAGR) of 13.9%. This growth is driven by factors such as the expanding middle-class population, improving internet infrastructure, rising popularity of streaming services, growing adoption of smart TVs, and the increasing prevalence of over-the-top (OTT) services.

Rising Demand for Over-the-Top (OTT) Content Drives Market Growth
The demand for over-the-top (OTT) content, which bypasses traditional distribution channels like cable or satellite TV, is a significant growth driver for the connected TV market. Consumers seek flexibility and convenience in accessing audio, video, and media content directly through smart devices and high-speed internet. The integration of streaming platforms into connected TVs enhances the viewing experience without the need for additional devices or subscriptions. For instance, a report by the UK's Office of Communications (Ofcom) highlighted a notable increase in video-on-demand (SVoD) service subscriptions among UK households, underscoring the rising demand for enhanced viewing experiences.

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Major Players and Market Trends
Key players such as Apple Inc., Samsung Electronics Co. Ltd., Sony Corporation, and others are focusing on integrating AI features into TVs to maintain competitiveness. For example, Samsung's Neo QLED 8K TV series launched in April 2022 features AI-powered upscaling and smart home control capabilities through its Neural Quantum Processor 8K with Real Depth Enhancer. This technology enhances picture quality and upscales content while seamlessly integrating with smart home devices, offering consumers an advanced viewing experience.
Innovative trends in the connected TV market include advancements in display technology, increased demand for versatile media access via smart devices, and the application of AI and machine learning in enhancing TV functionalities. Additionally, the use of blockchain technology and cloud-based services is gaining traction, further transforming the landscape of connected TVs.

Segments
• Screen Type: Curved, Flat
• Platform Type: Android, Roku, Other Platforms
• Screen Size: Less Than 30 Inches, 30 Inches To 50 Inches, 50 Inches To 70 Inches, Above 70 Inches
• Distribution Channel: Company Owned Websites, Specialty Stores, Online Retailers, Other Channels
• End Use: Residential, Commercial

Geographical Insights: Asia-Pacific Leading the Market
Asia-Pacific emerged as the largest region in the connected television (TV) market in 2023 and is anticipated to maintain its position as the fastest-growing region through the forecast period. The region benefits from increasing disposable incomes, rapid urbanization, and technological advancements driving the adoption of connected TVs.
Access the complete report for in-depth analysis: https://www.thebusinessresearchcompany.com/report/connected-television-tv-global-market-report

Connected Television (TV) Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Connected Television (TV) Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on connected television (TV) market size, connected television (TV) market drivers and trends, connected television (TV) market major players, competitors' revenues, market positioning, and market growth across geographies. The connected television (TV) market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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