Overview and Scope
Streaming media devices refer to hardware that allows music and video to be streamed to television sets. It comes in small cube boxes that are put in front of TV and other visual derives to connect for streaming services.
Sizing and Forecast
The streaming media devices market size has grown rapidly in recent years. It will grow from $14.42 billion in 2023 to $16.87 billion in 2024 at a compound annual growth rate (CAGR) of 17.0%. The growth in the historic period can be attributed to expansion of content streaming platform, rise in high-speed internet connectivity, shift from traditional to digital entertainment, affordability and accessibility of devices, decline in cable and satellite tv subscriptions.
The streaming media devices market size is expected to see rapid growth in the next few years. It will grow to $31.74 billion in 2028 at a compound annual growth rate (CAGR) of 17.1%. The growth in the forecast period can be attributed to emergence of new streaming platforms, focus on energy efficiency and sustainability, security and privacy enhancements, continued evolution of user interfaces, global expansion of streaming services. Major trends in the forecast period include 4k and ultra hd streaming, voice control and virtual assistants, smart tvs with built-in streaming, hdmi 2.1 and enhanced connectivity, ai-driven content recommendations, enhanced security and anti-piracy measures.
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Segmentation & Regional Insights
The streaming media devices market covered in this report is segmented –
1) By Device Type: Game Consoles, Media Streamers, Smart TVs
2) By Application: E-Learning, Web-Browsing, Gaming, Real-Time Entertainment, Social Networking
3) By End-Use: Commercial, Residential
North America was the largest region in the streaming media devices market in 2023, and is expected to be the fastest-growing region in the global streaming media devices market during the forecast period. The regions covered in the streaming media devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The rise in the popularity of video game streaming is significantly contributing to the growth of the streaming media devices market going forward. Video game streaming refers to a type of real-time video social media that combines traditional broadcasting with internet gaming. The major characteristics of video game live streaming are real-time, sociability, and suspense. Streaming media devices are used for streaming live video game content on television sets. For instance, in May 2021, Esports Charts, a US-based analytical organization gathering all esports data, streaming, and presenting information, during the Free Fire World Series (FFWS) 2021 Singapore an eSports event reached 5.41 million peak viewers which is 168% increase compared to 3.9 million peak viewers reached previous year. Therefore, the rise in popularity of video game streaming will drive the streaming media devices market.
Key Industry Players
Major companies operating in the streaming media devices market report are Google LLC, Sony Corporation, Roku Inc., Samsung Electronics Co. Ltd., Apple Inc., Amazon.com Inc., Nvidia Corporation, Koninklijke Philips N.V., Huawei Technologies Co. Ltd., HiMedia Technology Limited, ARRIS International Limited, D-Link Corporation, AsusTek Computer Inc., LG Electronics Inc., Microsoft Corporation, Logitech International S.A, Humax Co. Ltd., Intel Corporation, Xiaomi Corporation, Panasonic Corporation, Toshiba Corporation, Sharp Corporation, Hisense Group Co. Ltd., TCL Technology Group Corporation, Skyworth Digital Holdings Ltd., Changhong Electric Co. Ltd., Sichuan Changhong Electric Co. Ltd., Technicolor SA, Pace plc, Cisco Systems Inc., Netgear Inc.
The streaming media devices market report table of contents includes:
1. Executive Summary
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