Global Streaming Media Device Market - Overview
Global Streaming Media Device Market is expected to reach USD 24 Billion by 2026 growing at a CAGR of 17.5% during the forecast period, 2020–2026.
A streaming media device is streaming hardware that connects the television or the home theater to the Internet via Wi-Fi or Ethernet and allows the user to stream content from online services. These are basic devices with only a few connections, such as video (HDMI and/or composite), audio (RCA and/or digital), and Ethernet networking jacks. Many streaming media players also feature built-in Wi-Fi for wireless network connections, and most include their dedicated remote control. Roku Player, Google Chromecast, Amazon Firestick, and Apple TV are some of the most popular streaming media devices.
MRFR has considered 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) as some of the Key Players in the Global Streaming Media Device Market.
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Global Streaming Media Device Market has been segmented on the basis of Device Type, Resolution, Application, End-Use, and Region.
By Device Type, the market has been segmented into gaming consoles and media streamers. The media streamers segment has been further bifurcated into streaming boxes and streaming sticks.
By Resolution, the market has been segmented into 720p, 1080p, and 4K.
By Application, the market has been bifurcated into gaming, audio/video entertainment, e-learning, and others.
By End-Use, the market has been segmented into commercial and residential.
By Region, the market has been segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and South America.
The geographic analysis of the global streaming media device market has been conducted for North America (the US, Canada, and Mexico), Europe (Germany, the UK, France, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), Middle East & Africa (Saudi Arabia, UAE, South Africa, and Rest of the Middle East & Africa), and South America (Brazil, Argentina, Colombia, and rest of South America).
North America is currently dominating the global streaming media device market. Amongst, the countries in the region, the US is expected to have the largest market share in the streaming media device market in the region, followed by Canada and Mexico. The region holds the presence of the majority of key players who are focused on developing media streaming devices with advanced capabilities making the market highly competitive. Also, the region has witnessed an increase in demand for marketing campaigns to promote its brand thereby increasing demand for media streaming services over the years driving the market growth in the region.
Europe is following North America and accounts for a considerable share in the global streaming media device market. The region has witnessed an increasing adoption of cloud-based streaming services and increased internet penetration which drives the market growth in the region. Furthermore, the region has well-established network infrastructure, and the consumers across the region have been increasingly adopting the streaming services at their residence for entertainment purposes which further drives the market growth.
Asia-Pacific is projected to register the highest CAGR in the global streaming media device market. The region has witnessed a rise in Internet penetration and adoption of cloud services among the developing nations. Furthermore, an increase in consumer disposable income and the growing demand for audio/video streaming services among the youth users in the country is further expected to drive the market growth in the region.
The Middle East & Africa and South America region are expected to grow at a considerable pace in the streaming media device market. The rise in digital media consumption across the region, an increase in demand for OTT services, the rising adoption of Internet-based services is driving the market growth in the region.
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