Increased in demand for live streamed content is expected to drive streaming devices market expansion in the near future at a CAGR of 13.80% during the forecast period 2023 to 2032

Market Research Future (MRFR) has published on the “Global Streaming Devices Market”

The streaming devices market is estimated to register a CAGR of 13.80% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the streaming devices market— Apple, Inc., Philips Electronics, Amazon.com, Huawei Technologies, HiMedia Technology, Arris Group Inc., D-Link Corporation, Google, Inc., Microsoft Corporation, Sony Corporation.

Market Highlights

The streaming devices market is accounted to register a CAGR of 13.80%during the forecast period and is estimated to reach USD 30.40 billion by 2032

The streaming devices market is primarily driven by the increasing demand for on-demand content consumption and the growing popularity of over-the-top (OTT) streaming services. The proliferation of high-speed internet connectivity and the availability of a wide range of streaming content are further fueling market growth. Opportunities lie in the expansion of streaming services to emerging markets and the development of advanced features such as voice-controlled interfaces. However, challenges include competition among streaming platforms, piracy concerns, and compatibility issues with different devices and platforms.

Segment Analysis

The streaming devices market has been segmented into component, sales channel, price range, application and end use.

On the basis of Component, the market is segmented into Hardware, Software. The hardware segment was attributed to holding the largest market share in 2022. Hardware is the primary category, encompassing tangible items such as smart TVs, streaming sticks, and set-top boxes that let customers watch streaming media on their TVs or other displays.

Based on Sales Channel, the streaming devices market has been segmented into Online, Offline. The online segment was expected to hold the largest market share in 2022 motivated by the ease of online buying for customers and the broad use of e-commerce platforms. Online sales channels are the favoured alternative for many consumers since they provide a large range of streaming devices from different manufacturers, along with user reviews, product comparisons, and easy purchase choices.

Based on Price Range, the streaming devices market has been segmented into Low-Range, Medium-Range, and High-Range. The low-range segment was expected to hold the largest market share in 2022 owing to the accessibility and affordability of entry-level streaming devices aimed for customers on a tight budget.

Based on Application, the streaming devices market has been segmented into TV, Gaming Consoles, Others. The TV segment was expected to hold the largest market share in 2022 driven by the increasing use of smart TVs with integrated streaming features, which do away with the need for separate streaming devices. Smart TVs appeal to customers looking for simplicity and integration in their home entertainment setups because they provide easy access to popular streaming services straight through the television interface.

Based on end use, the streaming devices market has been segmented into Residential, Commercial. The residential segment was expected to hold the largest market share in 2022 driven by the growing global consumer demand in homes for streaming services and on-demand entertainment. In order to improve their home entertainment experience, residential customers look for streaming devices that provide access to a variety of material, such as live events, TV shows, music, and movies.

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Streaming Devices Market Research Report

Regional Analysis

The streaming devices market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe streaming devices market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The streaming devices market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World streaming devices market comprises of Middle East, Africa, and Latin America.

The largest market share for streaming devices was maintained by the North American regional sector. This increase is high level of internet penetration and widespread access to high-speed broadband, facilitating seamless streaming experiences. Secondly, the region is home to major streaming service providers and tech companies, driving innovation and the adoption of streaming devices. Additionally, North America has a large population of tech-savvy consumers who are early adopters of new technologies, contributing to the significant market share in this region.

Moreover, the Europe market has been persistently growing over the forecast period. The demand for streaming devices is driven by increasing trend towards cord-cutting, where consumers are opting for streaming services over traditional cable and satellite TV. This shift in consumer behavior is driving the demand for streaming devices as consumers seek convenient ways to access digital content on their TVs. Additionally, the availability of high-quality streaming content, coupled with improving internet infrastructure and connectivity across Europe, further fuels the growth of the streaming devices market in the region.

Additionally, Asia Pacific is anticipated to experience the quickest growth in the streaming devices market due to several factors. Firstly, the region has a large and rapidly expanding population, particularly in countries like China, India, and Southeast Asian nations, which presents a significant consumer base for streaming services and devices. Additionally, the increasing adoption of smartphones, smart TVs, and other connected devices in Asia Pacific countries contributes to the demand for streaming devices as consumers seek to access digital content on multiple screens.

Furthermore, the rest of the world's streaming devices market is divided into the Middle East, Africa, and Latin America. This growth is attributed to the varying levels of technological infrastructure and internet penetration across these regions influence the adoption of streaming services and devices. In some areas, limited access to high-speed internet and lower disposable incomes may restrain the widespread adoption of streaming devices. Additionally, cultural preferences, language barriers, and regulatory challenges in content licensing can also impact the availability and uptake of streaming services, contributing to market segmentation in these regions.

Key Findings of the Study

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  The streaming devices market is expected to reach USD 30.40 billion by 2032, at a CAGR of 13.80% during the forecast period.

  
  


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  The Asia-Pacific region accounted for the fastest-growing global market due to the increasing adoption of smartphones, smart TVs, and other connected devices.

  
  


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  Based on application, the TV segment was attributed to holding the largest market in 2022, with an approximate market share of 40–55%.

  
  


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  Apple, Inc., Philips Electronics, Amazon.com, Huawei Technologies, HiMedia Technology, Arris Group Inc., D-Link Corporation, Google, Inc., Microsoft Corporation, Sony Corporation are the key market palyers.