A streaming media device market is a piece of hardware that allows users to stream video from web services to their television or home theatre system over Ethernet or Wi-Fi. These are simple devices with just a few connectors for Ethernet networking, RCA or digital audio, HDMI or composite video, and a few more connections. In addition to having built-in Wi-Fi for wireless network connections, many streaming media players also come with a separate remote control. Some of the most well-liked streaming media players include Apple TV, Roku Player, Google Chromecast, and Amazon Firestick. Streaming Media Device Market size is projected to reach USD 18.84 Billion by 2030 growing at a CAGR of 14.50% by 2030
The global market for streaming media devices is expanding as a result of increased Internet penetration rates and rising demand for digital video and audio streaming content services. The availability of high-speed internet access and a growth in the number of smart devices that can support digital media have made it possible for customers to access the media material of their choosing. The demand for digital media has skyrocketed in the US as well, with music and video making up the vast majority of this consumption. The growing popularity of OTT services like Netflix, Amazon Prime, and YouTube among young people throughout the world is driving up demand for streaming media devices. Strict laws against piracy and unauthorised streaming are predicted to impede market expansion. Due to the rising demand for cloud-based services and solutions, the market is looking for opportunities. Additionally, it is anticipated that the market’s expansion will be hampered by the growing use of smart TVs.
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Key Players:
The prominent players active in the global market of streaming media devices are 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)
Market Segmentation :
The market for streaming media devices has been divided into segments based on the device type, resolution, application, end-user, and region.
The market has been divided into game consoles and media streamers based on the type of device. Streaming boxes and streaming sticks have been added to the segmentation of media streamers.
Market segments by resolution include 720p, 1080p, and 4K. The market has been divided into gaming, audio and video entertainment, e-learning, and other applications. The market has been divided into commercial and residential end-use categories.
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Regional Analysis:
The US, Canada, and Mexico are included in North America. Germany, the UK, France, Italy, and the rest of Europe are included in Europe. China, Japan, India, South Korea, and the rest of Asia-Pacific are included in the Middle East and Africa. Saudi Arabia, the United Arab Emirates, South Africa, and the rest of the Middle East and Africa are included in South America (Brazil, Argentina, Colombia, and rest of South America).
Currently, the global market for streaming media devices is dominated by North America. The US is anticipated to have the greatest market share among the region’s nations in the market for streaming media devices, followed by Canada and Mexico. The majority of the market’s leading players are concentrated in this area, where they are working to create media streaming devices with cutting-edge features. Additionally, the region has seen an increase in demand for marketing efforts to promote its brand, fueling the region’s market growth over the years through increased demand for media streaming services.
Following North America, Europe holds a sizable portion of the global market for streaming media devices. The region has seen a rise in the use of internet access and the use of cloud-based streaming services, both of which are contributing to the market’s expansion. Additionally, the region has an established network infrastructure, and consumers there are increasingly using streaming services at home for entertainment, which contributes to the market’s expansion.
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