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Growing Preference For Online Services Fuels Expansion In The Streaming Media Device Market: Strategic Insights Driving Streaming Media Device Market Momentum in 2025
Streaming Media Device
How Large Will the Streaming Media Device Market Size By 2025?
The market size for streaming media devices has experienced a swift expansion in the past few years. The market, which will be worth $70.94 billion in 2024, is expected to rise to $80.59 billion by 2025 with a compound annual growth rate (CAGR) of 13.6%. The significant growth during the historic period is due to factors like the emergence of over-the-top (OTT) content platforms, a surge in Internet connectivity and speed, the adoption of smart TVs, an increased consumer preference for on-demand content, and the enlargement of content libraries.
How Big Is the Streaming Media Device Market Size Expected to Grow by 2029?
In the upcoming years, the market size of streaming media devices is anticipated to witness rapid expansion, growing up to $153.21 billion by 2029 with a compound annual growth rate of 17.4%. Various factors contributing to the anticipated growth during the forecast period include the integration of these devices with smart home ecosystems, the popularity of live streaming and sports content, a rise in the adoption of 4K and HDR content, and improvements in the user interface and overall experience. The main trends arising during this forecast period include the advent of 5G technology, an emphasis on 4K and high dynamic range (HDR) content, the rise of live streaming services, an integration of voice control and virtual assistants and an increased focus on gaming via streaming devices.
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Which Key Market Drivers Powering Streaming Media Device Market Expansion and Growth?
The surge in the preference for online streaming services is expected to boost the expansion of the streaming media device market. Such services that offer entertainment content including films and music directly to users' computers, televisions, and mobile devices through the internet are a reference to online streaming services. Streaming media devices help connect the television or home-system to the internet. This enables users to access content such as videos, music, movies, and sports through a streaming TV service provider or an app. Hence, this rising inclination towards online streaming services is spurring the growth of the streaming media device market. For example, the annual report published by Netflix in January 2023 revealed that the total number of paid subscriptions tremendously escalated to 203,663 (in thousands) in 2020, 221,844 (in thousands) in 2021, and eventually to 230,747 (in thousands) in 2022. Moreover, by the end of each year, the number of paid subscriptions in Europe was noted to be 66,698 (in thousands) in 2020, 74,036 (in thousands) in 2021, and 76,729 (in thousands) in 2022. Consequently, this increasing favoritism towards online streaming services is propelling the expansion of the streaming media device market.
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What Are the Key Trends Driving Streaming Media Device Market Growth?
The incorporation of advanced technologies into video platform offerings is a trend becoming increasingly prevalent in the streaming media device market. To maintain their competitive standing, businesses within this market are choosing to harness these innovative technologies. For example, Xiaomi Corporation, a consumer electronics company based in China that focuses on smartphone and electronic hardware development, unveiled the TV Stick 4K in February 2023. The TV Stick 4K comes with a voice control feature allowing users to use Google Assistant to search for content, manage playback, and even control their smart home devices. It also includes built-in Chromecast functionality that lets users quickly cast content from their smartphones or tablets to their TVs. This device gives users access to a multitude of streaming applications and services, such as Netflix, Amazon Prime Video, and Disney+ Hotstar.
What Are the Emerging Segments in the Streaming Media Device Market?
The streaming media device market covered in this report is segmented -
1) By Type: Gaming Console, Media Streamers, Smart TVs
2) By Resolution: 720p, 1080p, 4K
3) By Application: E-Learning, Web-Browsing, Gaming, Real-Time Entertainment, Social Networking
4) By End User: Commercial, Residential
Subsegments:
1) By Gaming Console: PlayStation, Xbox, Nintendo Switch
2) By Media Streamers: Roku, Amazon Fire TV, Apple TV, Google Chromecast
3) By Smart TVs: OLED TVs, QLED TVs, LED TVs, Android TVs, WebOS TVs
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Who Are the Global Leaders in the Streaming Media Device Market?
Major companies operating in the streaming media device market include Amazon.com Inc., Apple Inc., Google Inc., Samsung Electronics Co Ltd., Microsoft Corporation, Huawei Technologies Corporate Limited, Sony Corporation, LG Electronics, Panasonic Corporation, Haier Group Corporation, Xiaomi Inc., Mitsubishi Electric Corporation, Hisense Co Ltd., Nvidia Corporation, Azulle, VIZIO Inc., Sharp Corporation, Philips Electronics, Western Digital Corporation, ASUSTeK Computer Inc., Bharti Airtel Limited, Roku Inc., TiVo Corporation, Razer Inc., Netgear Inc., iMedia Technology, D-Link Corporation, HUMAX, Plex Inc., Matricom
Which are the Top Profitable Regional Markets for the Streaming Media Device Industry?
North America was the largest region in the streaming media device market in 2024. The regions covered in the streaming media device market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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