How Has The Streaming Media Device Market Size Evolved In Recent Years?
The streaming media device market has seen considerable growth due to a variety of factors.
• The market for streaming media devices has seen swift enlargement in the past few years. The market size is projected to escalate from $70.94 billion in 2024 to an impressive $81.82 billion in 2025, marking a Compound Annual Growth Rate (CAGR) of 15.3%.
Factors driving this growth during the historic period include the surge in Over-The-Top (OTT) content platforms, expansion in internet accessibility and speeds, broader adoption of smart TVs, shift in consumer preference towards on-demand content, and broadening of content libraries.
What Can Be Expected from the Streaming Media Device Market in the Coming Years?
The streaming media device market is expected to maintain its strong growth trajectory in upcoming years.
• There is projected to be a swift expansion in the streaming media device market in the coming years, with it estimated to reach $158.15 billion in 2029, growing at a compound annual growth rate (CAGR) of 17.9%.
This surge over the forecast period can be credited to its compatibility with smart home ecosystems, growing popularity of live streaming and sports content, increased preference for 4K and HDR content, and improvements in user interface and experience. The forecast period is also expected to see the rise of 5G technology, high emphasis on 4K and high dynamic range (HDR) content, the rise of live streaming services, the integration of voice control and virtual assistants and increasing significance of gaming on streaming devices.
Which Key Drivers Are Propelling Th Streaming Media Device Market's Growth?
The surge in the usage of online streaming platforms is anticipated to stimulate the expansion of the streaming media device market. The term 'online streaming services' refers to platforms that offer entertainment mediums like films or music directly to users' devices such as computers, televisions, and mobiles through the internet. It is the streaming media devices that connect the television or home theatre system to the internet, enabling users to access the content (video, music, movies, and sports) offered by various streaming TV service providers or apps. Consequently, the increasing attraction towards online streaming services fuels the expansion of the streaming media device sector. For instance, Netflix, Inc., a U.S.-based streaming service company, saw a substantial increase in its total number of paid memberships, according to its annual report published in January 2023. The report revealed that the number of paid memberships rocketed notably to 203,663 (in thousands) in 2020, 221,844 (in thousands) in 2021, and 230,747 (in thousands) in 2022. Moreover, the paid memberships in Europe also showed an increase, registering 66,698 (in thousands) in 2020, 74,036 (in thousands) in 2021, and 76,729 (in thousands) in 2022. Hence, the escalating popularity of online streaming services acts as a catalyst for the growth of the streaming media device market.
How Is the Streaming Media Device Market segmented?
The streaming media device market covered in this report is segmented –
1) By Type: Gaming Console, Media Streamers, Smart TVs
2) By Resolution: 720p, 1080p, 4K
3) By Application: E-Learning, Web-Browsing, Gaming, Real-Time Entertainment, Social Networking
4) By End User: Commercial, Residential
Subsegments:
1) By Gaming Console: PlayStation, Xbox, Nintendo Switch
2) By Media Streamers: Roku, Amazon Fire TV, Apple TV, Google Chromecast
3) By Smart TVs: OLED TVs, QLED TVs, LED TVs, Android TVs, WebOS TVs
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What New Trends Are Influencing the Streaming Media Device Market?
The trend of integrating advanced technologies into video platforms is becoming increasingly relevant in the streaming media device market. Firms in this sector are utilizing these high-tech solutions to maintain a competitive edge. As an example, in February 2023, the Xiaomi Corporation, a consumer electronics firm based in China with a focus on smartphone and electronic hardware development, unveiled the TV Stick 4K. This device boasts a voice control feature, allowing users to leverage Google Assistant to search for content, control playback, and even manage smart home appliances. The inclusion of built-in Chromecast compatibility also lets users seamlessly cast content directly from their mobile device to their TV. The TV Stick 4K provides access to a myriad of streaming apps and services, such as Netflix, Amazon Prime Video, and Disney+ Hotstar.
Who Are the Key Players in the Streaming Media Device Market?
Major companies operating in the streaming media device market include:
• Amazon.com Inc.
• Apple Inc.
• Google Inc.
• Samsung Electronics Co Ltd.
• Microsoft Corporation
• Huawei Technologies Corporate Limited
• Sony Corporation
• LG Electronics
• Panasonic Corporation
• Haier Group Corporation
• Xiaomi Inc.
• Mitsubishi Electric Corporation
• Hisense Co Ltd.
• Nvidia Corporation
• Azulle
• VIZIO Inc.
• Sharp Corporation
• Philips Electronics
• Western Digital Corporation
• ASUSTeK Computer Inc.
• Bharti Airtel Limited
• Roku Inc.
• TiVo Corporation
• Razer Inc.
• Netgear Inc.
• iMedia Technology
• D-Link Corporation
• HUMAX
• Plex Inc.
• Matricom
What Is The Most Dominant Region In The Streaming Media Device Market?
North America was the largest region in the streaming media device market in 2024. The regions covered in the streaming media device market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
