Global streaming media device market to reach $48.32 billion by 2033, driven by demand for higher-quality video

From GlobeNewswire: 2024-07-19 03:00:00

The Global Streaming Media Device Market is projected to grow from $13.61 billion in 2023 to $48.32 billion by 2033, with a CAGR of 13.47%. Demand is being driven by rising internet use, improved communication infrastructure, and consumer desire for specific TV experiences. The gaming consoles segment is expected to dominate the market due to their popularity among youth.

Streaming devices, like streaming boxes, are consumer electronics used for playback, saving, or displaying digital media. The industry is growing rapidly due to factors such as increased internet usage, improved communication infrastructure, and the release of new devices. Increased preference for online streaming services is a key driver, along with advancements in video resolution and streaming technology.

The 4K segment holds the largest revenue share in the streaming media device market, driven by demand for higher-quality video and visuals. North America is expected to lead the market due to the growth of live video streaming and investments in gaming and entertainment. Asia Pacific is forecasted to have the fastest growth, fueled by online gaming popularity and OTT media awareness.

Major players in the streaming media device market include Philips Electronics, Huawei Technologies, Amazon.com, Western Digital, Sony Corporation, Microsoft, Roku, Inc., Xiaomi Corporation, Apple, Inc., Google, Inc., and others. Recent developments include Google announcing a new Android operating system for TVs. The market is also witnessing growth in related sectors like the projector screen market and digitally delivered services market.



Read more at GlobeNewswire: Global Streaming Media Device Market Size To Worth USD