Global Streaming Media Device Market - Overview
Global Streaming
Media Device Market is expected to
reach USD 24 Billion by 2026 growing at a CAGR of 17.5% during the forecast
period, 2020–2026.
A streaming media
device is streaming hardware that connects the television or the home theater
to the Internet via Wi-Fi or Ethernet and allows the user to stream content
from online services. These are basic devices with only a few connections, such
as video (HDMI and/or composite), audio (RCA and/or digital), and Ethernet
networking jacks. Many streaming media players also feature built-in Wi-Fi for
wireless network connections, and most include their dedicated remote control.
Roku Player, Google Chromecast, Amazon Firestick, and Apple TV are some of the
most popular streaming media devices.
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Key Players
MRFR has considered
Amazon.com, Inc. (US), Apple Inc. (US), Google LLC (US), HUMAX (South Korea),
Philips Electronics (Netherlands), Nvidia Corporation (US), Sony Corporation
(Japan), Samsung Electronics (South Korea), Azulle (US), Roku, Inc. (US),
Xiaomi Inc. (China), WeTek (Portugal), TiVo (US), SkyStream Technologies (US),
Matricom (US), and ASUSTeK Computer Inc. (Taiwan) as some of the Key Players in
the Global Streaming Media Device Market.
Segmentation
Global Streaming
Media Device Market has been segmented on the basis of Device Type, Resolution,
Application, End-Use, and Region.
By Device Type, the
market has been segmented into gaming consoles and media streamers. The media
streamers segment has been further bifurcated into streaming boxes and
streaming sticks.
By Resolution, the
market has been segmented into 720p, 1080p, and 4K.
By Application, the
market has been bifurcated into gaming, audio/video entertainment, e-learning,
and others.
By End-Use, the
market has been segmented into commercial and residential.
By Region, the
market has been segmented into North America, Europe, Asia-Pacific, Middle East
& Africa, and South America.
Regional
Analysis
The geographic
analysis of the global streaming media device market has been conducted for
North America (the US, Canada, and Mexico), Europe (Germany, the UK, France,
Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and
Rest of Asia-Pacific), Middle East & Africa (Saudi Arabia, UAE, South
Africa, and Rest of the Middle East & Africa), and South America (Brazil,
Argentina, Colombia, and rest of South America).
North America is
currently dominating the global streaming media device market. Amongst, the
countries in the region, the US is expected to have the largest market share in
the streaming media device market in the region, followed by Canada and Mexico.
The region holds the presence of the majority of key players who are focused on
developing media streaming devices with advanced capabilities making the market
highly competitive. Also, the region has witnessed an increase in demand for
marketing campaigns to promote its brand thereby increasing demand for media streaming
services over the years driving the market growth in the region.
Europe is following
North America and accounts for a considerable share in the global streaming
media device market. The region has witnessed an increasing adoption of
cloud-based streaming services and increased internet penetration which drives
the market growth in the region. Furthermore, the region has well-established
network infrastructure, and the consumers across the region have been
increasingly adopting the streaming services at their residence for
entertainment purposes which further drives the market growth.
Asia-Pacific is
projected to register the highest CAGR in the global streaming media device
market. The region has witnessed a rise in Internet penetration and adoption of
cloud services among the developing nations. Furthermore, an increase in
consumer disposable income and the growing demand for audio/video streaming
services among the youth users in the country is further expected to drive the
market growth in the region.
The Middle East
& Africa and South America region are expected to grow at a considerable
pace in the streaming media device market. The rise in digital media
consumption across the region, an increase in demand for OTT services, the
rising adoption of Internet-based services is driving the market growth in the
region.
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