Streaming Devices Market - By Resolution (720p & 1080p, 4K, 8K), Distribution Channel (Online, Offline) & Forecast, 2021-2027

Streaming Devices Market Size

Streaming Devices Market size exceeded USD 10 billion in 2020 and is anticipated to expand at over 10% CAGR from 2021 to 2027. The global industry shipments are estimated to cross 200 million units by 2027.
 

The rising demand for watching internet programs in high-definition and 4K-resolution has fueled the adoption of streaming devices. 4K streaming offers a greater range of colors and immersive sound effects while watching the program. Several industry players are launching advanced products. For instance, in April 2021, Apple launched the next-generation Apple TV 4K that delivers a high frame rate HDR with Dolby Vision and provides enhanced graphics performance, video decoding & audio processing. Furthermore, it is integrated with Siri virtual assistant for intuitive navigation controls.
 

Impact of COVID-19 pandemic

The coronavirus (COVID-19) pandemic has positively impacted the streaming devices market. Media consumption boomed at the early stage of the pandemic when government regulations restricted social gatherings and put forth stay-at-home norms to contain the virus. This led to a rise in TV and video-on-demand usage, thereby spurring the demand for streaming devices. OTT service providers gained profit owing to the increasing number of customers during the pandemic. The consumption of media and entertainment content has now fully digitalized. Streaming platforms have become an essential component, despite the terrible economic consequences of the COVID-19 pandemic.
 

Streaming Devices Market Analysis

The U.S. streaming devices market will showcase 12% growth rate through 2027 led by the significant consumption of 4K content for movies, TV shows, and OTT programs. 4K devices deliver enhanced picture quality and high pixel resolution of 3840 x 2160 pixels. Several brands in streaming services, such as Netflix and Amazon, offer 4K Ultra HD content. Rising disposable income, demand for watching media content in 4K, and rising sales of UHD & QHD televisions will foster the U.S. market expansion.
 

The emergence of new technologies, such as Artificial Intelligence (AI), Machine Learning (ML), and Deep Learning (DL), is being witnessed in the streaming devices market. These technologies offer super-resolution techniques that enhance the picture quality from low- to high-resolution through upscaling technology. They track consumer preference, viewing habits, and specific programming. Several market leaders are integrating advanced technologies in streaming devices.
 

Online distribution channel in the UK streaming devices market is poised to attain more than 14% gains by 2027 on account of the increasing trend of online shopping among consumers in the UK. For instance, in 2020, Amazon.com Inc. reported around USD 36.52 billion in online retail sales in the UK. The pandemic has further accelerated an increase in e-commerce sales due to the closure of non-essential retail stores across the country. The strong online retail industry growth in the UK has driven the sales of streaming devices through these channels. Additionally, e-commerce websites allow customers to choose from a wide variety of branded products at huge discounts. Online retailers offer a wide range of streaming devices of varied brands and implement several marketing strategies, such as discounts, fast delivery & promotional coupons, to increase their sales.
 

Europe streaming devices market captured over 25% of revenue share in 2020 impelled by the high subscription for video-on-demand services, primarily in the Western European countries. The growing prominence of wireless and portable technologies is experiencing high growth owing to the devices’ ability to be easily moved from one location to another. This provides consumers with higher access to content. In addition, the growth of IoT in the region is dictating the high usage of these systems. A rising number of consumers are purchasing systems that have built-in virtual assistant capabilities to aid them in conducting high functionalities such as smart searches and carrying out day-to-day activities.
 

Streaming Devices Market Share

Key companies operating in the streaming devices market are:

• Amazon.com
• Roku Inc
• Google Inc
• Humax
• Apple Inc
• Xiaomi Corporation
• Nvidia Corporation
• Now TV (Sky Group)
• Skystream Technologies
• Tivo Corporation
• Motorola Mobility LLC
   

The major market leaders are continuously introducing advanced streaming devices. For instance, in April 2021, Roku, Inc. launched the all-new Roku Express 4K+. The device offers powerful 4K streaming and Roku Voice Remote Pro, featuring a rechargeable battery, lost remote finder & hands-free voice controls. It offers high picture quality that supports HD, 4K, HDR, HDR10 & HDR10+ resolutions and provides dual-band Wi-Fi and micro USB Ethernet compatibility for wired internet connectivity.
 

The streaming devices market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and shipments in units from 2017 to 2027 for the following segments:

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Market, By Resolution

• 720p & 1080p
• 4K
• 8K

Market, By Distribution Channel

• Online
• Offline

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • Singapore
  • South Korea
  • Australia
• Latin America
  • Brazil
  • Mexico
  • Colombia
  • Argentina
• MEA
  • UAE
  • Saudi Arabia
  • South Africa
  • Israel