Global Media Streaming Devices Market, Forecast to 2023

Description

Media streaming devices are connected, unmanaged devices whose primary purpose is to receive on-demand content via the Internet and display it on a television screen. Demand for media streaming devices originally derived from cord-cutters looking for convenient, cost-effective ways to access entertainment content with a lean back experience. Media streaming device shipments worldwide sold well over the last 4-5 years due to an expansion of streaming entertainment services with growing content libraries, new, yearly product introductions with upgraded capabilities, and because of discontent with advertising on broadcast television and dissatisfaction at the increasing faster-than-inflation costs of cable and satellite pay television. Frost & Sullivan expects unit shipments for the global media streaming devices market to increase from 48.7 million in 2017 to 122.7 million in 2023, at a compound annual growth rate (CAGR) of 16.6 percent over the forecast period.

There are indications that continued growth will slow slightly as products saturate mature markets until newer television technologies, such as 4K resolution and high dynamic range, coupled with good broadband access, become more widespread across the globe. Media streaming device adoption depends heavily on underlying entertainment streaming services, like Netflix and Hulu, and ecosystems like Amazon Prime, Apple iTunes, the Google Play Store, and Roku’s Fandango Now. As entertainment consumers also have the option to watch content on phones, tablets, desktops, and laptops, media streaming device adoption also depends on consumer viewing habits with many preferring a lean back experience for various short and long-form content.

Geographical Segmentation: The global market has been segmented into North America, Latin America (NALA), Europe, the Middle East, and Africa (EMEA), and Asia-Pacific (APAC).