With the Connected TV market exploding to a staggering $15.5 billion globally and now reaching 87% of U.S. TV households, the living room screen has become the new epicenter of entertainment, advertising, and even shopping.
Key Takeaways
- Global CTV market size reached $15.5 billion in 2022
- US CTV households numbered 146 million in 2023
- CTV market projected to grow at 12.5% CAGR through 2028
- CTV penetration in US reached 87% of TV households in 2023
- 76% of US broadband households subscribe to at least one CTV service
- Global CTV usage averages 2.5 hours per day per user in 2023
- US CTV ad spend hit $25 billion in 2023
- Global CTV advertising market $30 billion projected 2024
- FAST channels generated $2.5 billion revenue 2023
- CTV average time spent viewing 94 minutes daily US 2023
- 35% of US TV time now CTV vs linear 2023
- Sports content 25% of CTV viewing hours 2023
- CTV projected to 90% US TV households by 2027
- Global CTV ad spend to hit $50 billion by 2028
- FAST channels to 40% of CTV revenue by 2027
The Connected TV market is booming with massive growth in households, ad revenue, and diverse global usage.
Ad Revenue
- US CTV ad spend hit $25 billion in 2023
- Global CTV advertising market $30 billion projected 2024
- FAST channels generated $2.5 billion revenue 2023
- CTV ad share of total video ads 45% in US 2023
- Programmatic CTV ads $10 billion US 2023
- Retail media CTV spend $1.8 billion 2023
- CTV local ads revenue up 30% to $3 billion 2023
- Political CTV ad spend $1.2 billion in 2023 elections
- Automotive CTV ads $800 million US 2023
- Pharma CTV advertising $500 million 2023
- CPG brands CTV spend grew 40% to $2 billion 2023
- Travel industry CTV ads $600 million post-pandemic 2023
- Finance sector CTV revenue $400 million 2023
- Gaming CTV ads hit $1 billion globally 2023
- Sports betting CTV spend $700 million US 2023
- Home goods CTV ads $900 million 2023
- Telecom CTV advertising $1.5 billion 2023
- Insurance CTV spend up 25% to $550 million 2023
- E-commerce CTV direct response $2.2 billion 2023
- Alcohol brands CTV ads $300 million Super Bowl 2023
- Fashion retail CTV revenue $750 million 2023
- Tech gadgets CTV spend $1.1 billion 2023
- Food delivery CTV ads $650 million 2023
- Streaming service self-promotion CTV $4 billion 2023
- Hispanic-targeted CTV ads $1.3 billion US 2023
Ad Revenue Interpretation
Connected TV has become America’s virtual town square, where brands from politics to potato chips now spend billions to politely interrupt your streaming, proving that the real prime-time drama is the relentless, data-driven auction for your attention between shows.
Future Projections
- CTV projected to 90% US TV households by 2027
- Global CTV ad spend to hit $50 billion by 2028
- FAST channels to 40% of CTV revenue by 2027
- AI personalization in CTV to 80% adoption by 2026
- 5G boosts CTV mobile integration to 60% by 2028
- CTV e-commerce transactions $20 billion annually by 2027
- AR/VR CTV content 15% market share by 2030
- Global CTV households 2 billion by 2028
- Programmatic CTV 70% of ad buys by 2026
- CTV sports rights to double to $20 billion by 2027
- Privacy-first CTV tech 90% compliance by 2025
- CTV gaming streams 25% viewing by 2028
- Local CTV ads automated 50% by 2026
- SVOD churn to stabilize at 20% with CTV bundles 2027
- CTV retail media to $10 billion by 2028
- Voice AI CTV control 40% households 2027
- CTV news interactive 30% engagement by 2026
- Global FAST channels 1,000+ by 2027
- CTV health content personalized 50% by 2028
- Edtech CTV platforms $5 billion by 2030
Future Projections Interpretation
While the traditional TV set is fast becoming a dignified antique, the Connected TV is rapidly evolving into a personalized, interactive, ad-supported, and occasionally shoppable nerve center for our homes, predicted to soon be as ubiquitous as it is intrusive.
Market Size
- Global CTV market size reached $15.5 billion in 2022
- US CTV households numbered 146 million in 2023
- CTV market projected to grow at 12.5% CAGR through 2028
- CTV device shipments hit 45 million units in 2023
- Europe CTV market valued at $4.2 billion in 2023
- CTV streaming market share was 38% of total TV in 2023
- Asia-Pacific CTV market to reach $10 billion by 2027
- Smart TV market within CTV valued at $250 billion in 2023
- CTV OEM market grew 15% YoY in 2023
- Latin America CTV penetration at 65% households in 2023
- CTV market revenue from subscriptions hit $8 billion US in 2023
- Global CTV ad-supported tier revenue $3.5 billion in 2023
- CTV hardware market share Roku 40% in 2023
- CTV software market to grow 18% annually to 2030
- US CTV market dominated by FAST channels at 25% share
- CTV gaming integration market $1.2 billion in 2023
- Middle East CTV market expansion 22% in 2023
- CTV e-commerce enablement market $500 million 2023
- Africa CTV smart device adoption doubled to 20 million in 2023
- CTV enterprise solutions market $2 billion globally 2023
- CTV B2B market growth 28% YoY 2023
- CTV retail media networks market $900 million US 2023
- Global CTV infrastructure spend $6 billion 2023
- CTV health tech integration $400 million market 2023
- CTV education platforms market $1.5 billion 2023
- CTV automotive infotainment $3 billion 2023
- CTV hospitality deployments 50 million rooms 2023
- CTV sports streaming rights $10 billion 2023
- CTV news consumption market $700 million 2023
- CTV weather apps market share 15% of CTV usage 2023
Market Size Interpretation
While the traditional TV may be gasping for its last breath, its smarter, cannibalistic cousin Connected TV is stuffing its face with a $250 billion hardware buffet, gulping down a $10 billion sports streaming rights smoothie, and eyeing the global ad revenue fridge, all while we distractedly scroll past yet another weather app on our couch.
Penetration
- CTV penetration in US reached 87% of TV households in 2023
- 76% of US broadband households subscribe to at least one CTV service
- Global CTV usage averages 2.5 hours per day per user in 2023
- 65% of Gen Z viewers prefer CTV over traditional TV
- UK CTV household penetration at 82% in 2023
- 91% of US CTV users also use linear TV weekly
- India CTV smart TV penetration 45% urban homes 2023
- 55% of millennials cut cord for CTV only in 2023
- Brazil CTV adoption 70% of pay-TV subs in 2023
- 82% of CTV households use Roku devices
- Australia CTV reach 90% of population over 14 in 2023
- 68% of boomers now use CTV daily
- Canada CTV penetration 85% households 2023
- 40% of global CTV users access via mobile companion apps
- France CTV usage 75% of TV time 2023
- 52% of Hispanics in US prefer CTV for video
- Germany CTV smart home integration 60% penetration 2023
- 77% of parents use CTV for kids content
- Japan CTV adoption lags at 55% households 2023
- 85% of US sports fans use CTV platforms
- Mexico CTV penetration 62% urban areas 2023
- 70% of gamers access CTV via consoles 2023
- South Korea CTV 95% household saturation 2023
- 45% of rural US now has CTV access 2023
- Italy CTV share of viewing 50% in 2023
- 60% of women 25-54 primary CTV decision makers
- Spain CTV penetration 78% homes 2023
- 33% of CTV users have 5+ apps installed 2023
- Turkey CTV growth to 50% penetration 2023
Penetration Interpretation
The traditional TV is now the guest of honor at its own funeral, as the world’s living rooms overwhelmingly tune in through connected devices, proving that while we haven't stopped watching the box, we have definitively commandeered its remote.
Viewing Habits
- CTV average time spent viewing 94 minutes daily US 2023
- 35% of US TV time now CTV vs linear 2023
- Sports content 25% of CTV viewing hours 2023
- Movies account for 28% CTV consumption 2023
- News clips 15% of daily CTV sessions US 2023
- Binge-watching sessions average 3 episodes CTV 2023
- Live events boost CTV usage 40% on weekends 2023
- Kids content 20% of peak evening CTV hours 2023
- FAST channels viewed 1.5 hours weekly per user 2023
- 60% of CTV viewing is on-demand 2023
- Evening prime time CTV share 55% US 2023
- Reality TV 18% CTV popularity ranking 2023
- International content 12% US CTV views 2023
- User-generated CTV content 8% sessions 2023
- Holiday viewing spikes CTV 25% December 2023
- Multi-screen CTV companion 45% users 2023
- Comedy series top CTV genre 22% share 2023
- 4K content 30% of CTV streams 2023
- Ad-supported CTV viewing equals SVOD 2023
- Women view 10% more lifestyle CTV 2023
- Gen Z skips intros 70% on CTV apps 2023
- Podcasts-to-video CTV 5% emerging habit 2023
- Weather/lifestyle channels 10% FAST viewing 2023
- Voice search initiates 15% CTV sessions 2023
- Interactive CTV shopping during shows 7% engagement 2023
Viewing Habits Interpretation
The living room has officially been reprogrammed: we now spend over an hour and a half daily in a choose-your-own-adventure broadcast where we binge three episodes of a comedy, half-watch a live game while shopping on our phones, and let the kids commandeer the screen after dinner, all while skipping intros and occasionally asking the TV about the weather.
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