Global Streaming Media Device Market 2016-2020
About Streaming Media Devices
Streaming media devices are designed and developed specifically to stream, play, and manage online streaming content profiles such as Netflix and Hulu. It provides users with the option to play the content on TV. The global streaming media device market is expected to ship 439.8 million units by 2020, growing at a CAGR of 17.45% during the forecast period. The market is currently in its nascent stage but is witnessing unprecedented growth. In 2015, Asia-Pacific (APAC) had the highest growth rate in the market. Europe, the Middle East, and Africa (EMEA) and the Americas are quite matured markets.
Technavio’s analysts forecast the global streaming media device market to grow at a CAGR of 17.45% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global streaming media device market for 2016-2020. To calculate the market size, the report considers the unit shipments of streaming media devices.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Streaming Media Device Market 2016-2020
Technavio recognizes the following companies as the key players in the global streaming media device market: Amazon, Apple, Google, Microsoft, Roku, and Sony.
Commenting on the report, an analyst from Technavio’s team said: “The growing production of in-house web series is a trend that is expected to positively influence the global video content market. The global video content market is home to an intensely competitive environment with the originality of content and innovation being one of the prime core competencies. This has resulted in an increase in production of in-house content across various platforms. Original in-house web series across various genres such as drama, comedy, sitcoms, action, talk shows, and documentaries are some of the highest viewed videos on online video platforms such as Netflix and YouTube.”
According to the report, one of the key drivers for market growth will be easy connectivity with electronic devices. A major factor driving the sales of streaming devices is the ease with which media content can be streamed and shared between various streaming devices. With the help of a home network, a streaming device can connect with various devices. The content can be streamed on the internet, a central repository, or any connected device. Along with wireless streaming, streaming media devices also support wired streaming using a cabled LAN.
Further, the report states that high cost of smart TVs will be a challenge for the market. The high ASP of smart TVs is one of the major growth inhibitors in the global smart TV market. The purchase of smart TVs is purely dependent on the disposable income of consumers. If low-cost alternatives are available in the market, consumers will purchase these affordable alternatives. Non-commercial customers, the potential target audience for the smart TV market, are highly price sensitive. As cost is an important buying criterion, the high cost of smart TVs hinders its adoption among the target population.
Amazon, Apple, Google, Microsoft, Roku, Sony.
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