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Technavio’s market research analyst predicts the global streaming media device market to grow at a CAGR of more than 17% between 2016 and 2020. The growing integration of digital video content with streaming media devices will act as a major driving force for the growth of the global streaming media device market. Streaming media devices enable users to play movies and TV shows on TV. They allow users to improve and manage the media streaming for live or on-demand content. The integration of the digital video content with streaming media devices offers consumers the flexibility to watch the content of their choice at a convenient time. Streaming media devices also provide user-friendly navigation options such as a list of content, corresponding prices, and related content and topics.
Rising implementation of cloud services, which allows users to access a diverse range of pay-per-use computing sources, is the latest trend gaining traction in the market. Several firms in the digital video content market are adopting cloud computing services to improve portability, and enabling subscribed users to access digital content stored in remote servers, irrespective of the devices they use. The growing consumer inclination toward access-based approach, which allows subscribing to video libraries stored in the cloud has propelled streaming device manufacturers to invest in cloud computing services for higher revenues.
Currently, intense vendor competition exists in the global streaming media device market. According to the streaming media device industry analysis, the market is dominated by a few leading players who compete in terms of product differentiation, portfolio, and pricing. Technological innovations among the leading vendors play a major role in driving the growth of the market. Also, the competition is expected to increase during the forecast period with the increase in product extensions.
Other prominent vendors in the streaming media device market include ASUSTeK Computer, ARRIS Group, D-Link, HiMedia Technology, Hisense, Huawei Technologies, Keedox, LG Electronics, Matricom, NETGEAR, NVIDIA, Philips, Razer Forge, Samsung Electronics, Sling Media, TiVo, and VIZIO.
Based on the streaming media device market forecast, the smart TVs segment occupies the largest market share in the streaming media device market and will continue to dominate the market during the forecast period. APAC is the largest revenue generating region for the smart TVs market owing to the huge demand coming from China. Factors such as high adoption of technologically advanced consumer electronics products and the emergence of local vendors that supply cheaper smart TVs than global vendors will result in further growth of this segment in the coming years. This will have a positive impact on the streaming media device market share.
APAC is expected to be the fastest-growing region in the streaming media device market throughout the predicted period. The market in the region is in its nascent stage, and the growing inclination of consumers toward new technologically advanced products will boost growth in the region. South Korea, China, Australia, India, New Zealand, and Taiwan are the major revenue contributing nations in the region. Also, the increasing awareness and high adoption of VOD services will drive the demand for streaming media devices in APAC. This will positively influence the streaming media device market growth.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by type
PART 07: Geographical segmentation
PART 08: Market attractiveness
PART 09: Buying criteria
PART 10: Market drivers
PART 11: Impact of drivers
PART 12: Market challenges
PART 13: Impact of drivers and challenges
PART 14: Market trends
PART 15: Vendor landscape
PART 16: Appendix
PART 17: Explore Technavio
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