According to a recent report published by Allied Market Research, titled, “Streaming Devices Market by Component, Sales Channel, Price Range, Application and End Use: Opportunity Analysis and Industry Forecast, 2020-2027,” the global Streaming Devices Market size was valued at $7.98 billion in 2019. Streaming Devices Market size is projected to reach $18.98 billion by 2027, growing at a CAGR of 13.2% from 2020 to 2027.
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In 2019, North America dominated the Streaming Devices Market share among all analyzed regions, contributing more than 37% share of the overall revenue. Rise in adoption for video streaming services by households in the U.S., has majorly contributed toward the revenue growth of service providers such as Netflix and Amazon Prime Video. High penetration of smartphone as well as connected devices among the population in the U.S. is enhancing the continuous display of media, entertainment, and information.
Factors such as substantial increase in demand for live streamed content and rise in popularity of video game streaming device are expected to boost the adoption of streaming device. However, limitation of bandwidth restraints the Streaming Devices Market growth. Furthermore, surge in need for advanced technologies in video platforms to improve video quality offers lucrative opportunities Streaming Devices Market growth.
As per the analysis, COVID-19 pandemic has impacted the Streaming Devices Market due to disruptions in supply chains. Further, lockdowns, travel restrictions and infection awareness among the people have hampered the market demand and slowed down the process of advancement. However, the Streaming Devices Market is expected to pick its pace by 2021.
Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North-America was the highest revenue generator in 2019, accounting for $3.00 Billion, and is estimated to garner $7.00 Billion by 2027.
As per the Streaming Devices Market analysis, the market is segmented into of component, sales channel, price range, application, end use and region. On the basis of component, the market is bifurcated into hardware and software. On the basis of sales channel, market is divided into offline and online. On the basis of price, the market is divided into low range, mid-range and premium range. Application segment includes TV, gaming consoles and others. End use covered in the include commercial, industrial and residential. Based on region, the market is analyzed across North America, Europe, Asia- Pacific and LAMEA.
Key Findings Of The Study
- By component, the hardware electronic held the highest revenue of $33.89 Billion in 2019 and contributed a major part in the Streaming Devices Market share.
- By sales channel, the offline segment held the highest revenue share of the market in 2019.
- By price range, the medium segment held the highest revenue share of the market in 2019.
- By application, the TV segment held the highest revenue share of the market in 2019.
- By end use, the residential segment held the highest revenue share of the market in 2019.
- By region, North-America is expected to dominate the market, garnering a major Streaming Devices Market share during the forecast period.
The report provides a comprehensive analysis of major market players such as Google LLC, Amazon.com, Inc., Apple Inc., Humax, Intel Corporation, Nvidia Corporation, Roku, Inc., Xiaomi Inc., Sony Corporation, Samsung Electronics CO. Ltd. and Microsoft Corporation. Further, prominent strategies adopted by leading players are analyzed to highlight the top winning strategies.