PUBLISHER: The Business Research Company | PRODUCT CODE: 1414614
PUBLISHER: The Business Research Company | PRODUCT CODE: 1414614
“Streaming Media Devices Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on streaming media devices market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for streaming media devices? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The streaming media devices market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Streaming media devices are hardware devices designed to facilitate the streaming of music and video content to television sets. Typically, these devices are compact cube-shaped boxes positioned in front of TVs and other visual devices to establish connections for streaming services.
The primary types of streaming media devices include game consoles, media streamers, and smart TVs. Game consoles are technological devices utilized for playing video games on televisions. They serve diverse purposes, including e-learning, web browsing, gaming, real-time entertainment, and social networking for end-users in both commercial and residential settings.
The streaming media devices market research report is one of a series of new reports from The Business Research Company that provides streaming media devices optical components market statistics, including streaming media devices optical components industry global market size, regional shares, competitors with a streaming media devices optical components market share, detailed streaming media devices optical components market segments, market trends and opportunities, and any further data you may need to thrive in the streaming media devices optical components industry. This streaming media devices optical components market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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 historical period's growth can be ascribed to the expansion of content streaming platforms, an increase in high-speed internet connectivity, the transition from traditional to digital entertainment, the affordability and accessibility of devices, and a 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 anticipated growth in the forecast period is attributed to the emergence of new streaming platforms, a focus on energy efficiency and sustainability, enhancements in security and privacy, the ongoing evolution of user interfaces, and the global expansion of streaming services. Noteworthy trends in the forecast period encompass 4K and Ultra HD streaming, the integration of voice control and virtual assistants, Smart TVs with built-in streaming capabilities, HDMI 2.1 and improved connectivity, AI-driven content recommendations, and the implementation of enhanced security and anti-piracy measures.
The increasing popularity of video game streaming is a significant factor contributing to the future growth of the streaming media devices market. Video game streaming, a form of real-time video social media that combines traditional broadcasting with internet gaming, is characterized by real-time interactions, sociability, and suspense. Streaming media devices play a crucial role in streaming live video game content on television sets. For example, in May 2021, Esports Charts, a US-based analytical organization specializing in esports data, reported that the Free Fire World Series (FFWS) 2021 Singapore, an esports event, reached a peak of 5.41 million viewers, marking a 168% increase compared to the previous year's peak viewership of 3.9 million. Consequently, the rising popularity of video game streaming is expected to propel the streaming media devices market.
The increasing penetration of the internet is anticipated to drive the growth of the streaming media devices market in the future. Internet penetration, indicating the percentage of a given country or region's total population using the internet, plays a crucial role in the adoption and utilization of streaming media devices. As more people gain access to the internet, there is a corresponding increase in the demand for these devices. For instance, a July 2023 report from the International Telecommunication Union (ITU), a US-based agency for information and communication technologies, estimates that approximately 5.4 billion people, constituting 67% of the world's population, were using the internet in 2021. This marked a 1.88% increase from 2022, with an estimated 0.1 billion people coming online during that period. Hence, the growing internet penetration is a driving force behind the expansion of the streaming media devices market.
The streaming media devices market is witnessing a prominent trend of product innovation. Major companies in the industry are strategically focusing on introducing new streaming media devices that offer enhanced features at more competitive prices to effectively navigate the increasing market competition. For example, in March 2023, Allente, a Nordic TV distribution company based in Sweden, collaborated with 3 Screen Solutions GmbH & Co. KG, a German company specializing in software development, and SEI Robotics Inc., a Chinese smart hardware company, to launch Allente's new 4K dongle for over-the-top (OTT) TV. This innovative service provides Allente's customers with a superior user experience through the well-established 3Ready product framework. Featuring an attractive and user-friendly interface, the 4K dongle seamlessly integrates with Allente's super-aggregated pay-TV services on various devices, including Android TV-powered STBs and hybrid DVB-S STBs.
Leading companies in the streaming media devices market are actively engaged in the development of technological advancements, such as cloud-based one-stop streaming technology, to gain a competitive edge. Cloud-based one-stop streaming technology is a comprehensive platform that enables users to manage, deliver, and monetize their video content from a single centralized location. As an illustration, in June 2023, KKCompany Technologies Inc., a multinational technology group based in Taiwan, introduced BlendVision One. This cloud-based, one-stop streaming technology solution is designed to empower businesses in unlocking the full potential of digital media transformation. Offering flexibility for various streaming requirements, BlendVision One streamlines the streaming workflow, making it convenient for businesses to manage content and provide a seamless experience to their audience.
In July 2021, Carlyle Group Inc., a US-based private equity company, completed the acquisition of LiveU, Inc. for $400 million. This strategic move adds live-streaming hardware devices to Carlyle's diverse portfolio of investments and assets. Leveraging its extensive experience in the media technology industry, Carlyle aims to support LiveU's expansion objectives. Carlyle's existing investments in Disguise and NEP, along with earlier investments in The Foundry, Vubiquity, BTI Studios, and The Mill, underscore its commitment to advancing innovation in the sector. LiveU, Inc. is a US-based producer of live-streaming devices and software.
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.
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
The countries covered in the streaming media devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The streaming media devices market consists of sales of streaming sticks, set-top boxes and remote controls. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.