The Indian smart TV market is poised to reach a size of USD 44.9 billion by 2032. This represents a CAGR of 17.50% from 2024 to 2032, and in 2024, smart TVs are projected to account for 93% of overall TV shipments in India, according to Claight.
47% of Indian respondents own a smart TV, and 25% of non-owners intend to purchase one within a year. By the end of 2024, CTV is projected to reach over 45 million households, reflecting a 21% year on year increasing. As a key sports marketing channel, CTV targets the engaged, higher-income audience: 44% of respondents enjoy watching sports, and 13% earn above average, according to a study by GroupM Nexus and Ampere Analysis.
As the adoption of free, ad-supported streaming TV grows, it opens up more opportunities for advertisers to connect with engaged audiences across ad inventory that meets them where they are spending time. A survey by Roundel revealed that 57% of respondents use a streaming service supported by ads. This shift in consumer behavior has led to an increase in streaming time, with users averaging 22 hours per week, a 40% increase compared to previous years.
With consumers increasingly using multiple devices while streaming, CTV advertising is more effective than ever.
The survey showed that 26% of respondents have increased their time streaming in the past 12 months. When it comes to engaging with video ads, 49% of consumers are likely to search for an item after seeing it on TV, while 62% are more likely to scan a QR code on-screen than use a remote to click for more information or to make a purchase.
More about how to leverage CTV advertising to drive business growth? Contact MOCA at business@moca-tech.net.