Streaming Devices Market Size was valued at USD 9.5 Billion in 2022. The Streaming Devices market industry is projected to grow from USD 10.81 Billion in 2023 to USD 30.40 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 13.80% during the forecast period (2024 - 2032).
Increased in demand for live streamed content and raise in popularity of video game streaming device are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
One prominent trend in the Streaming Devices market is the expansion of content streaming services. As the demand for on-demand entertainment continues to grow, streaming platforms are diversifying their content libraries to cater to various interests and demographics. This expansion includes the development of original programming, exclusive partnerships, and licensed content from various studios and production companies. Consequently, consumers are seeking Streaming Devices that offer compatibility with multiple streaming services, driving the demand for versatile and feature-rich Streaming Devices capable of delivering a seamless viewing experience across different platforms. This factor drives the market CAGR.
Additionally, notable trend is the integration of smart home functionality into Streaming Devices. Manufacturers are incorporating voice control, home automation, and compatibility with virtual assistants such as Amazon Alexa and Google Assistant into their Streaming Devices. This integration allows users to control their entertainment experience, adjust settings, and access content hands-free, enhancing convenience and user experience. Additionally, Streaming Devices with smart home capabilities can serve as central hubs for managing other connected devices and services, further consolidating their position as essential components of the smart home ecosystem.
A key trend shaping the Streaming Devices market is the emphasis on high-quality audio and video performance. With the increasing availability of 4K Ultra HD, HDR (High Dynamic Range), and Dolby Atmos content, consumers are demanding Streaming Devices capable of delivering immersive audiovisual experiences. Manufacturers are responding by incorporating advanced video processing technologies, support for high-resolution audio formats, and compatibility with the latest display and audio equipment into their Streaming Devices. As a result, consumers are seeking Streaming Devices that can provide superior picture quality, vibrant colors, and immersive sound, elevating their home entertainment experience to new heights. For instance, in May 2022, Microsoft announced that the Xbox streaming device would reach consumers in 2023. People can stream cloud games from Xbox Game Pass Ultimate by connecting the device to a TV or monitor, eliminating the need for them to own an Xbox gaming console. Thus, driving the Streaming Devices market revenue.
The Streaming Devices market segmentation, based on Component includes Hardware, Software. The dominant category is hardware, encompassing the physical devices such as streaming sticks, set-top boxes, and smart TVs that enable users to access streaming content on their televisions or other display screens. The fastest-growing category is Software, driven by advancements in streaming platform interfaces, content discovery algorithms, and user experience enhancements.
The Streaming Devices market segmentation, based on Sales Channel, includes Online and offline. The dominant category is Online, driven by the widespread adoption of e-commerce platforms and the convenience of online shopping for consumers. Online sales channels offer a wide selection of Streaming Devices from various manufacturers, along with user reviews, product comparisons, and convenient purchasing options, making it the preferred choice for many consumers. The fastest-growing category is Offline, fueled by the presence of brick-and-mortar retail stores, electronics stores, and consumer electronics departments within retail chains.
The Streaming Devices market segmentation, based on Price Range, includes Low-Range, Medium-Range, High-Range. The dominant category is low-range, primarily due to the affordability and accessibility of entry-level Streaming Devices targeted at budget-conscious consumers. The fastest-growing category is High-Range, driven by the increasing popularity of premium Streaming Devices offering advanced features, enhanced performance, and premium build quality.
Figure 1: Streaming Devices Market, by Price Range, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The Streaming Devices market segmentation, based on Sales Channel, includes TV, Gaming Consoles, Others. The dominant category is TV, driven by the widespread adoption of smart TVs equipped with built-in streaming capabilities, eliminating the need for additional Streaming Devices. Smart TVs offer seamless access to popular streaming services directly through the television interface, appealing to consumers seeking simplicity and integration in their home entertainment setups. The fastest-growing category is Gaming Consoles, fueled by the convergence of gaming and entertainment and the integration of streaming services into gaming platforms.
The Streaming Devices market segmentation, based on End Use, includes Residential and Commercial. The dominant category is Residential, primarily driven by the increasing consumer demand for on-demand entertainment and streaming services in households worldwide. Residential users seek Streaming Devices to access a wide range of content, including movies, TV shows, music, and live events, enhancing their home entertainment experience. The fastest-growing category is Commercial, fueled by the adoption of Streaming Devices in commercial settings such as hotels, restaurants, bars, and retail establishments. Commercial users deploy Streaming Devices to provide entertainment options to their customers, enhance guest experiences, and create engaging environments.
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American Streaming Devices market area will dominate this market, owing to large population with a high level of internet penetration and technological adoption, creating a significant demand for Streaming Devices. In addition, the growing number of establishing health clubs and fitness facilities will boost market growth in this region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure2: STREAMING DEVICES MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Streaming Devices market accounts for the second-largest market share due to the large and technologically savvy population with a high level of internet connectivity, creating a substantial demand for Streaming Devices across the region. Further, the German Streaming Devices market held the largest market share, and the UK Streaming Devices market was the fastest growing market in the European region
The Asia-Pacific Streaming Devices Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due rapid urbanization and industrialization, leading to a rise in disposable incomes and a burgeoning middle class with increased purchasing power. Moreover, China’s Streaming Devices market held the largest market share, and the Indian Streaming Devices market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Streaming Devices market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Streaming Devices industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Streaming Devices industry to benefit clients and increase the market sector. In recent years, the Streaming Devices industry has offered some of the most significant advantages. Major players in the Streaming Devices market, including Apple, Inc., Philips Electronics, Amazon.com, Huawei Technologies, HiMedia Technology, Arris Group Inc., D-Link Corporation, Google, Inc., Microsoft Corporation, Sony Corporation, and others, are attempting to increase market demand by investing in research and development operations.
Amazon is a multinational technology and e-commerce company headquartered in Seattle, Washington, United States. Founded by Jeff Bezos in 1994, Amazon started as an online marketplace for books but has since diversified its offerings to include a wide range of products and services. In September 2022, Amazon introduced the next-generation Fire TV Cube, which features a new octa-core 2.0 GHz processor, hands-free control with Alexa, support for 4K Ultra HD, Dolby Vision, HDR, Dolby Atmos audio, and Wi-Fi 6 compatibility.
Vevo is a multinational video hosting service and entertainment platform that specializes in music videos. Founded in 2009 as a joint venture between Universal Music Group, Sony Music Entertainment, and Abu Dhabi Media, Vevo's primary focus is on distributing music videos from major record labels and independent artists. In November 2022: Vevo collaborated with Plex to launch a series of streaming channels with 24/7 linear high-quality music videos. The partnerships aim to help in making music videos available on all the platforms people choose to consume popular content around the world and driving momentum to provide curated content for an easier home experience.
April 2022: Comcast and Charter Communications collaborated to offer customers bundled video set-top boxes to better compete with incumbents such as Roku and Amazon.
January 2020: Roku, Inc. introduced Roku TV Ready, a new program, to enable consumer electronics companies to collaborate with Roku. Such collaborations would help electronics companies to work seamlessly with Roku TV for an incredible home entertainment experience.
| Attribute/Metric | Details |
| Market Size 2022 | USD 9.5 Billion |
| Market Size 2023 | USD 10.81 Billion |
| Market Size 2032 | USD 30.40 Billion |
| Compound Annual Growth Rate (CAGR) | 13.80% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Component, Sales Channel, Price Range, Application, End Use and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Apple, Inc., Philips Electronics, Amazon.com, Huawei Technologies, HiMedia Technology, Arris Group Inc., D-Link Corporation, Google, Inc., Microsoft Corporation, Sony Corporation |
| Key Market Opportunities | · Increased in demand for live streamed content |
| Key Market Dynamics | · Rise in popularity of video game streaming device |
Frequently Asked Questions (FAQ) :
The Streaming Devices market size was valued at USD 9.5 Billion in 2022.
The global market is projected to grow at a CAGR of 13.80% during the forecast period, 2024-2032.
North America had the largest share in the global market
The key players in the market are Apple, Inc., Philips Electronics, Amazon.com, Huawei Technologies, HiMedia Technology, Arris Group Inc., D-Link Corporation, Google, Inc., Microsoft Corporation, Sony Corporation.
The Hardware category dominated the market in 2022.
The Online category had the largest share in the global market.
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Senior Research Analyst Ankit gupta is an analyst in market research industry in ict and semi industry. with post-graduation in "telecom and marketing management" and graduation in "electronics and telecommunication" vertical he is well versed with recent development in ict industry as a whole. having worked on more than 150+ reports including consultation for fortune 500 companies such as microsoft and rio tinto in identifying solutions with respect to business problems his opinions are inclined towards mixture of technical and managerial aspects.
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