Streaming Devices Market is anticipated to reach a revenue of over USD 25 billion over the forecast timespan. A major factor contributing to this demand is the shift of consumers away from traditional TV viewing, such as satellites and cable TVs, to the digital platforms. This trend is highly amplified in the North American and European regions, where the provision of fast broadband services is very high. Cable and satellite packages can amount to prices ranging upwards of USD 50 per month with additional charges for installation, maintenance, and a-la-carte channels, propelling the growth of the streaming devices market. For instance, in the U.S., the shift toward non-traditional viewing is occurring with over 2 million users yearly terminating traditional subscriptions. Consumers are increasingly subscribing to Over-the-Top (OTT) platforms, such as Netflix, Hulu, and Amazon Prime, owing to their low-priced and flexible packages.
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It would be prudent to mention that streaming devices market is driven not only by the type and quality of content that different devices offer but also the price of the streaming device itself. Streaming devices that are priced between USD 30 TO USD 100 are predicted to be the chief drivers for the streaming devices industry in the forecast period. A major example of this phenomena is the Roku streaming device. Roku has been increasingly capturing a major chunk of U.S. streaming devices market share despite the lack of its own TV platform.
Instead, Roku has been successful in striking third party deals and has been able to lead the streaming devices market with a consumer base that is larger than Google Chromecast and Apple TV. Apple has a connected TV device that is more technologically advanced than Roku, however, it has been observed that consumers looking forward to buying a basic streaming device will opt for Roku instead of Apple. Also, people in emerging economies such as India and China prefer low priced devices over high-priced ones – another factor that validates why USD 30 – 100 based streaming devices industry has been doing better in terms of revenue generation.
The streaming devices market by pricing indicates that the USD 30–100 pricing range is dominating in terms of revenue and shipment in 2016. Consumer tendency to purchase low-cost electronic devices, primarily in the Asia Pacific and the Latin America region, is anticipated to drive the streaming devices industry demand. There is a large availability of low-cost devices, such as the Google Chromecast and the Amazon Fire TV stick, that provide streaming services and are fully compatible with HD, UHD, and low-resolution systems without excessive spending on the products.
As far as quality of content is concerned, it is quite overt that viewers demand high quality content from streaming devices, owing to which 4K compliant devices that provide better image clarity and sharpness will witness higher demand in the forecast period. Prices of 4K compatible devices have also been substantially reduced in the past few years. As more consumers are deemed eligible to afford 4K technology systems, 4K compliant devices will contribute significantly toward the growth of the streaming devices industry. However, 1080p, full HD systems also provide impressive picture clarity, and being less expensive than the 4K versions, are able to capture a wider section of the streaming devices market at present. For instance, though Apple has launched a technologically modified device that supports 4K and HDR videos, Roku is still making more sales from its basic streaming device.
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The rising prominence of this vertical can be undeniably attributed to the rising popularity of OTT streaming systems like Netflix, Hulu, Amazon Prime, etc., across numerous economies. China and India, for instance, owing to the economic boom and the rise of the educated middle class with greater disposable incomes, willing to spend on OTT streaming systems, will undeniably propel Asia Pacific streaming devices industry. As per estimates, APAC streaming devices market size is projected to witness a 25% CAGR over 2017-2024.
Streaming devices market players include Matricom, Roku, Inc., Google LLC, Amazon.com, Inc., Nvidia Corporation, Sling Media LLC., Apple, Inc., Sony Corporation, Xiaomi, Inc., and TiVo. Companies operating in this industry spend a large amount on R&D activities to improve their product landscape and increase their market share.
Some Points From Table Of Content: –
Chapter 4. Streaming Devices Market, By Price (Revenue & Shipments)
4.1. Streaming devices industry share by pricing, 2016 & 2024
4.2. USD 30 – 100
4.2.1. Market estimates and forecasts, 2013 – 2024
4.2.2. Market estimates and forecasts, by region, 2013 – 2024
4.3. USD 101 – 250
4.3.1. Market estimates and forecasts, 2013 – 2024
4.3.2. Market estimates and forecasts, by region, 2013 – 2024
Chapter 5. Streaming Devices Market, By Resolution Type (Revenue & Shipments)
5.1. Streaming devices industry share by resolution type, 2016 & 2024
5.2. 4K UHD
5.2.1. Market estimates and forecasts, 2013 – 2024
5.2.2. Market estimates and forecasts, by region, 2013 – 2024
5.3.1. Market estimates and forecasts, 2013 – 2024
5.3.2. Market estimates and forecasts, by region, 2013 – 2024
5.4.1. Market estimates and forecasts, 2013 – 2024
5.4.2. Market estimates and forecasts, by region, 2013 – 2024
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