Streaming Devices Market

Streaming Devices Market Size (2024–2029)

The global streaming media devices market expected to reach US$ 15.65 billion in 2024, and is projected to reach US$ 28.41 billion by 2029, showcasing a growth rate (CAGR) of 12.7% during the period 2024-2032.

Streaming Devices Market Overview

A streaming device is Internet-connected gear that allows users to stream material from web services to their television or home theatre through Wi-Fi or Ethernet. These are simple devices with only a few connectors for video (HDMI and/or composite), audio (RCA and/or digital), and Ethernet networking. Many streaming media players contain a specialised remote control as well as built-in Wi-Fi for wireless network connections. Some of the most popular streaming media devices include the Roku Player, Google Chromecast, Amazon Firestick, and Apple TV.Players in the Business has started to adapt to the Streaming Devices as not only the way to market their product and services but also coming up with new solutions for the problems that are associated with them. Which helped the business players to reach out and communicate with the targeted users.Live video streaming is proven to be an effective corporate training tool, allowing for a smooth staff onboarding and learning process. For example, Box Cast, a video-streaming solution supplier, offers simple-to-use video streaming products like Box Caster for organisational usage. The firm has introduced Box Caster Pro, a streaming encoder, to give ultra-high-quality live feeds without requiring a lot of network capacity. Similarly, e-commerce businesses have begun to use streaming devices to host live events to promote their items, thereby increasing the end-user experience. As a result, streaming media devices serve as a potent video marketing tool, delivering interactive, live, and more enticing material to customers in real time.

Streaming Devices Market Drivers and Restraints

Increasing interest for the people/users for the online streaming services is expected to be the driving factors of the Global Streaming Devices Market During the Forecast Period. The way video content is viewed has changed dramatically thanks to streaming media devices. Due to the availability of high-speed broadband internet, it has elevated standard cable TV to a new level. Netflix, Amazon Prime, and Hulu are examples of online streaming services that have captivated TV consumers and revolutionised the over-the-top (OTT) viewing experience. This has prompted millions of people to move to internet streaming services in order to gain live access to their favourite pay-tv channels. Users can watch new and vintage films, as well as seasons of previous and current TV shows, on streaming media devices such as Roku, Amazon Fire TV, and Apple TV, as well as services such as Netflix, Amazon, and Hulu.Photo apps and social media sites can easily be accessed on TV with these streaming media devices. Furthermore, digital content providers such as Spotify and over-the-top (OTT) service providers such as YouTube are driving the expansion of audio and video data streaming services. As a result, the increased popularity of various online streaming services is fuelling the growth of the Streaming Media Devices Market.As the increasing Demand for the smart TVs around the Global Users has decreased the need for the different Streaming Devices which is expected to be the Major restraining factor of the Global Streaming Devices Market During the Forecast Period. A smart TV is outfitted with technology that allows it to support and deliver functions similar to those offered by streaming media devices. The growing interest of smart TVs have an impact on the demand for streaming devices. Smart TVs, like streaming gadgets, can support services like Netflix, Hulu, Amazon Prime Video, and Pandora. As a result, consumers will not need to purchase separate streaming media devices in order to see this material.

Recent Developments in Global Streaming Devices Market

• Comcast and the Charter Team Up together to launch the new streaming platform for the US Consumers. Comcast and the Charter has announced that they are going to develop a streaming platform based on the Comcast’s Flex with including its free streaming services Xumo, with which they are willing to offer the nationwide consumers through the new devices and smart TVs.

• CNN Plus has launched on the Apple TV and Amazon Streaming Services, The News Centred CNN Plus has maid their way in to the Streaming platforms by entering in to the Apple TV and Amazon.

• Roku Launches its new 4K Streaming Stik which has the capability of the long-range Wi-Fi connectivity.

REPORT COVERAGE

Streaming Devices Market Segmentation

By Component:

• Hardware.

• Software.

Software segment is expected to have the dominant share in the Global Streaming Devices Market During the Forecast Period. The video industry is evolving. We're moving away from static video content and toward interactive live streaming. Fans want engaging content with interactive elements as their attention spans shorten. The answer is streaming software. You may use these technologies to stream live video, communicate with followers, integrate interactive content, collect money, and more.

By Application:

• TV.

• Gaming Consoles.

Gaming Consoles is expected to have the dominant share in the Global Streaming Devices Market During the Forecast Period. Because gaming consoles have significantly more processing capability than streaming devices, they have the largest market share. This enables developers to provide customers with an immersive and one-of-a-kind game and entertainment experience.

TV is expected to have the rapid growth in the Global Streaming Devices Market During the Forecast Period. sophisticated features, user-friendly interfaces, simplicity of usage, and minimal cost Due to their superior interfaces and app support, widely used media streaming services such as Roku Ultra, Apple TV, and Amazon Fire TV will promote adoption of streaming media devices in the near future.

By End-User:

• Commercial.

• Residential.

Commercial segment is expected to have the dominant share in the Global Streaming Devices Market During the Forecast Period. Because live streaming allows businesses to communicate with potential customers, it is becoming increasingly popular. This aids organisations in establishing a relationship with customers by providing them with a personalised experience with the brand. It enables them to demonstrate the product development and release process to their audience. In the healthcare industry, for example, live broadcasting supports surgeons in performing surgery under the supervision of an offshore panel of doctors.

Streaming Devices Market Regional Analysis

• North America is expected to have the dominant share in the Global Streaming Devices Market During the Forecast Period. since the majority of significant competitors in the industry are heavily investing in the development of streaming media devices to provide enhanced features, sophisticated capabilities, and high resolution Furthermore, the region is a technology early adopter, and the region's youth are increasingly demanding OTT services, which is driving demand for streaming media devices in the region.

• Asia-Pacific is expected to register highest CAGR and expected to be the fast growing in the Global Streaming Devices Market During the Forecast Period. The market is predicted to rise due to rising demand for cloud-based solutions and services, as well as increased Internet penetration in the region. Furthermore, the region's high consumer wealth and the region's youngsters' increasing need for on-demand streaming services are driving up market demand in the region.

• Europe is expected to see the prominent share in the Global Streaming Devices Market During the Forecast Period. The region has placed a strong emphasis on cloud methods and streaming entertainment services, both of which are driving market growth in the region.

• Latin-America.

• Middle-East and Africa.

Streaming Devices Market Key Players

Apple Inc., Roku Inc., ASUS Tek Computer, Inc., D-Link Corporation, Hi-Media Technology Limited, Koninklijke Philips N.V., LG Electronics, Western Digital, Sony Corporation