Digital formats are becoming increasingly popular for media consumption around the world. Thanks to a growth in the number of devices capable of supporting digital media and quicker internet access speeds, consumers may now access media content of their choice, whether it’s information, entertainment, or social activity, at any time and from any location. Media consumption in the United States has risen considerably, with a significant transition from traditional to new (digital) media. The rise of streaming media players such as Netflix, Hulu, Amazon, Apple TV, Roku, and Boxee, among others, is undermining the television’s long-held dominance as the primary source of entertainment.
According to Emergen Research, the global streaming media devices market size was USD 9.89 billion in 2020 and is expected to reach USD 35.4 billion in 2028 and register a robust revenue CAGR of 17.3% during the forecast period, 2021-2028.
Over the last few years, online media consumption has skyrocketed. Mobile devices have surpassed desktop computers as the main means of consuming online media. In the last five years, the smartphone market has experienced phenomenal expansion. In 2014, the number of smartphones surpassed 2 billion, and by 2019 it to reach 4.6 billion. Consumers may now access music and video material on the go thanks to the growing number of mobile devices.
Major Companies in the Market Include:
- VCA Technology
- com, Inc.
- Apple, Inc.
- Google LLC
- Philips Electronics
- Nvidia Corporation
- Sony Corporation
- Samsung Electronics
- Roku, Inc.
In the streaming media devices market, emerging technologies such as Artificial Intelligence, Machine Learning, and Deep Learning are gaining traction. These technologies provide super-resolution solutions that use upscaling technology to improve visual quality from low to high resolution. They keep track of consumer preferences, watching habits, and programming preferences. Several market players are incorporating innovative technologies into their streaming devices.
Video resolutions, bandwidth, and streaming have all seen significant developments in the streaming sector. However, as networks are projected to encounter a bandwidth constraint, higher definition movies and increased bandwidth capabilities bring additional issues. The number of people watching online video is increasing, which is projected to cause bandwidth constraints and hinder the expansion of the streaming devices market.
For this report, Emergen Research has segmented the global streaming media devices market based on product type, resolution, application, end-use, and region:
Product Type Outlook (Revenue, USD Billion; 2018–2028)
- Gaming Consoles
- Media Streamers
Resolution Outlook (Revenue, USD Billion; 2018–2028)
Application Outlook (Revenue, USD Billion; 2018–2028)
- Audio/Video Entertainment
End-Use Outlook (Revenue, USD Billion; 2018–2028)
Detailed Regional Analysis covers:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)