According to a new market research report published by Transparency Market Research entitled “Streaming Media Device Market [By Type – Game Consoles, Media Streamers (Streaming Box/Media Player, Plug-in USB Sticks/ Streaming Sticks), Smart TV’s and Others; By Application – E-learning, Web – browsing, Gaming, Real Time Entertainment and Social Networking; By End – Use – Commercial and Residential] – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2017 – 2025, the global Streaming Media Device market is expected to reach US$ 337,683.2 Mn by 2025. The market is anticipated to expand at a CAGR of 16.7% during the period from 2017 to 2025. Investment in standalone app development platforms are unceasingly being undertaken by developers which is fueling the growth of the Streaming Media Device market.
North America dominates the Streaming Media Device market with a market share of more than 50% in 2016. The streaming media device market is experiencing growth owing to factors such as easy connectivity with electronic devices, growing assimilation of digital content with streaming media devices and growing adoption of cloud services. Streaming media devices continue to gain traction in the North America market owing to the tech savvy population and large number of internet users. Their capability to shorten time to value for new applications. Apart from this, increasing investment in webcasting to hold company expenditure is also a major factor impelling the streaming media device market to grow.
Streaming media devices are especially designed to play, stream and control video-sharing websites such as Hulu, You Tube and Netflix. This media device enables consumers to associate a video display device to the internet, to easily access online available contents. Streaming media tools allow the on-demand or real-time presentation and dispersal of video, audio and multimedia content over a communication channel, usually a dedicated IP network or internet managed by a facility provider. With the introduction of streaming media, there is no need to load a file to play it, because the media is directed in a constant stream of programs, consequently, user can play the media as it arrives. Users have the capability to reverse, pause or forward the streamed file, as the user can ensure with a downloaded file. Streaming media has played an important part in stirring internet experience for both enterprises and folks
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The streaming media device market is experiencing growth owing to factors such as easy connectivity with electronic devices, growing assimilation of digital content with streaming media devices and growing adoption of cloud services. The incorporation of the streaming media devices with digital video content, offers flexibility to watch or listen the video/audio files anytime. Adoption of cloud services to improve mobility and portability of the media devices is growing rapidly. The growing consumer preference toward access-based method, which allows subscribers to access video libraries or digital content stored in the cloud has boosted streaming device producers to spend in cloud computing services for higher profitability.
The global streaming media device can be segmented on the basis of type, application, and end-users. By type, the streaming media device market is segmented into smart TVs, media streamers and gaming consoles. The application based segmentation includes gaming, real-time entertainment, social networking, e-learning and web browsing. On the basis of end-use, the streaming media device market is segmented into commercial and residential. Globally, smart TV segment held approximately 60% market share in the Streaming Media Device market in 2016. The demand for high resolution display solutions for watching movies, playing games, etc. is prominently supporting the growth of this segment. In terms of application segment, gaming sub segment is estimated to grow at the highest CAGR due to increasing demand for play stations in regions such as APAC and Europe.
The major players in the global streaming media player market includes Google Inc., Microsoft Corporation, Sony Corporation, Roku, Inc., Samsung Electronics Co., Ltd., ASUSTeK Computer Inc., LG Electronics, Inc., Apple, Inc. and Philips Electronics.