Streaming media device market is witnessing notable developments at a CAGR of 17.2% from 2019 to 2027

According to a new market report pertaining to the global streaming media device market published by Transparency Market Research the global streaming media device market is anticipated to reach US$ 468,970.5 Mn by 2027 from 132,082.5 Mn in 2019. The streaming media device market is projected to expand at a CAGR of 17.2% from 2019 to 2027 in terms of revenue. Streaming media devices are especially designed to play, stream and control video-sharing websites such as Hulu, YouTube, and Netflix. This media device enables the users to connect the video display device to the internet in order to easily access online steaming contents. Streaming media tools allow the on-demand or real-time presentation and dispersal of audio, video and multimedia content over a communication channel, usually a dedicated IP network or internet managed by a facility provider. With the introduction of streaming media, there is no need to load a file to play it, because the media is directed in a constant stream of programs, as a result, user can play the media as it arrives. Users have the capability to reverse, pause or forward the streamed file, as the user can ensure with a downloaded file. Streaming media has played an important part in stirring internet experience for both enterprises and folks.

Dedicated/ Standalone Apps Drives the Streaming Media Device Market
Streaming media devices are especially designed to play, stream and control video-sharing websites such as Hulu, YouTube and Netflix. This media device enables consumers to associate a video display device to the internet, to easily access online available contents. Streaming media tools allow the on-demand or real-time presentation and dispersal of video, audio and multimedia content over a communication channel, usually a dedicated IP network or internet managed by a facility provider. With the introduction of streaming media, there is no need to load a file to play it, because the media is directed in a constant stream of programs, consequently, user can play the media as it arrives. Users have the capability to reverse, pause or forward the streamed file, as the user can ensure with a downloaded file. Streaming media has played an important part in stirring internet experience for both enterprises and folks.

The streaming media device market is experiencing growth owing to factors such as easy connectivity with electronic devices, growing assimilation of digital content with streaming media devices and growing adoption of cloud services. The incorporation of the streaming media devices with digital video content, offers flexibility to watch or listen the video/audio files anytime. Adoption of cloud services to improve mobility and portability of the media devices is growing rapidly. The growing consumer preference toward access-based method, which allows subscribers to access video libraries or digital content stored in the cloud has boosted streaming device producers to spend in cloud computing services for higher profitability.

Streaming Media Device Market: Market Taxonomy
The global streaming media device market has been segmented in terms of type, application, end-use and region. By type, the streaming media device market has been segmented into smart TVs, media streamers and gaming consoles. The application segment has been segmented into social networking, web-browsing, gaming, real-time entertainment, and E-learning. On the basis of end-use, the streaming media device market has been segmented into commercial and residential. Globally, smart TV segment held approximately 60% market share in the Streaming Media Device market in 2018. The demand for high resolution display solutions for watching movies, playing games, etc. is prominently supporting the growth of this segment. In terms of application segment, gaming sub segment is estimated to grow at the highest CAGR due to increasing demand for play stations in regions such as APAC and Europe.

Streaming Media Device Market: Regional Outlook
In terms of region, the global streaming media device market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is estimated to hold the major share in the market owing to the tech savvy population in this region. Furthermore, Asia Pacific is anticipated to be among the major adopters of the streaming media device during the forecast period. The streaming media device market in the Asia Pacific region is in its promising stage, and the rising inclination of users toward advanced technological products is expected to improve the growth in the region. Besides this, the growing adoption of video-on-demand services and growing awareness about streaming devices is also anticipated to boost the demand for streaming media devices in Asia Pacific region.

The report provides in-depth segment analysis of the global streaming media device market, thereby providing valuable insights at macro as well as micro levels. In-depth cross-country analysis has also been included as part of geographic analysis of the streaming media device market.

Streaming Media Device Market: Competition Dynamics
The research study includes profiles of leading companies operating in the global streaming media device market. Key players profiled in the report include Google, Inc., Microsoft, Sony Corporation, Roku, Inc., Samsung Electronics Co., Ltd., ASUSTeK Computer Inc., LG Electronics, Inc., Apple, Inc. and Philips Electronics.

Today’s streaming devices have replaced the traditional CDs/DVDs with streamed entertainment and education content for users. The streaming devices become a very convenient way of storing files and information for end-users. The growing adoption of smart TVs is subsequently driving the demand for streaming media device market. However, the major factors which confines the growth of the streaming media device market include low broadband penetration and higher broadband rates.

The major trend supportive to growth of streaming media devices is the rising production of in-house web series, which is anticipated to lift the demand for video content over the coming years. The streaming media devices support wireless streaming as well as wired streaming using a cabled LAN. EIN Newswire