In the recent times, streaming devices market share has witnessed an exceptional pace of progression courtesy-- the growing worldwide trend of relying on the internet for entertainment purposes. Mobile devices, smartphones, in particular, have rapidly emerged as the most preferred medium to access online audio and video content which has enormously disrupted the global entertainment and media industry. This, as a consequence, has created massive growth prospects for the global industry. With binge watching becoming one of the most favorite pastimes across the globe, industry giants including Amazon, Netflix, Roku etc., have been evolving innovative strategies to tap into this burgeoning business sphere. Apparently, it would be prudent to mention that the global market, according to estimates, held a total remuneration portfolio in excess of USD 5 billion in the year 2016.
While elaborating further upon the streaming devices market progression trends, it is quite imperative to take note of the phenomenal growth of mobile devices sector which has been complemented with the improved speed of internet connectivity on a global scale. As per some reliable sources, the global mobile data traffic is estimated to reach 110 Exabytes per month by 2023. These statistics correspond to around 5.5 million years of high-definition video streaming, which goes on to imply the gigantic growth potential of the industry space over the forthcoming years.
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Various cloud technologies have been deployed to minimize the costs associated with viewing the content, along with the space used to store the downloaded content and concerns of copyright thefts. This has effectively increased the demand for streaming devices and accelerated the transition to digital platforms for entertainment purposes.
Video and audio content exhibit compatibility with multiple devices and can be accessed at any time on numerous platforms as they are encoded to manage security and safety issues. Over-the-Top (OTT) platforms like Netflix, Hulu, and Amazon Prime, are increasingly picked and subscribed by consumers as they offer low-priced and flexible packages.
Streaming devices in the price range of USD 30-100 led the industry share with regard to remuneration and shipment in 2016 owing to the rising inclination of customers to buy low-cost electronic devices, specifically in the Asia Pacific and the Latin America region.
The users can retrieve offerings through an immense availability of cheap streaming devices including the Google Chromecast as well as the Amazon Fire TV stick to offer streaming services. They are also fully compatible with HD, UHD, and low-resolution systems and are affordable, eliminating over expenditure on the products.
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Ease of availability of fast broadband services and access to streaming in remote locations will bolster the demand and adoption of streaming devices across Europe and North America. The United Kingdom registered more than 62.1 million users, while 94.2% of its population has access to consistent internet service and speed. There is also an inclining rate in binge-watching and cord-cutting.
In the backdrop of such outstanding growth prospects of the industry, the major technology giants and prominent video firms have been increasingly combining their respective expertise to fortify and sustain their presence in this combative marketplace. Speaking of the competitive landscape, the prominent streaming devices market players hold close to 75 percent of the total business share which goes on to demonstrate the dire need for the industry players to work conjointly to tackle the growing fierceness in this business sphere. Google Cloud, for instance, has recently acquired Anvato, a well-known platform for editing, encoding, distributing, and publishing of videos. Post the acquisition, Google Cloud Platform now offers live and video-on-demand editing, end-to-end video processing, hybrid encoding, a management platform for signal acquisition, social and premium syndication, authenticated playback, and dynamic ad insertion. Apparently, all these advanced video processing solutions of Google, along with Anvato's scalable media processing capability, has strengthened the tech giant's presence in industry. More such strategic collaborations are anticipated in the near future, which would further intensify the competitive landscape of market, which in terms of remuneration, is forecast to surpass USD 25 billion by 2024.
Major Key Points from Table of Content:
Chapter 4. Streaming Devices Market, By Price (Revenue & Shipments)
4.1. Streaming devices market share by pricing, 2016 & 2024
4.2. USD 30 – 100
4.2.1. Streaming devices market estimates and forecasts, 2013 – 2024
4.2.2. Market estimates and forecasts, by region, 2013 - 2024
4.3. USD 101 - 250
4.3.1. Market estimates and forecasts, 2013 – 2024
4.3.2. Market estimates and forecasts, by region, 2013 - 2024
Chapter 5. Streaming Devices Market, By Resolution Type (Revenue & Shipments)
5.1. Streaming devices market share by resolution type, 2016 & 2024
5.2. 4K UHD
5.2.1. Streaming devices market estimates and forecasts, 2013 – 2024
5.2.2. Market estimates and forecasts, by region, 2013 - 2024
5.3.1. Market estimates and forecasts, 2013 – 2024
5.3.2. Market estimates and forecasts, by region, 2013 - 2024
5.4.1. Market estimates and forecasts, 2013 – 2024
5.4.2. Market estimates and forecasts, by region, 2013 - 2024
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