APAC streaming devices market size is projected to witness a 25% CAGR over 2017-2024. The buzzing trend of customers shifting base from cable TV to digital platforms and increased access to fast broadband has been fueling streaming devices industry. 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.
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.
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The demand for streaming devices market and the movement to the digital platform for entertainment purposes is further streamlined by the provision of cloud solutions as these reduce costs for viewing content, space utilized for storing downloaded content, and issues pertaining to copyright thefts. Additionally, video and audio content are compatible with a variety of devices and can be accessed over multiple platforms at any time and is encoded to handle security and safety concerns.
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 market 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.
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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.
Some Point from Table of Contents:
Chapter 5. Streaming Devices Market, By Resolution Type (Revenue & Shipments)
5.1. Streaming devices market 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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