Streaming Devices Market in Asia Pacific to grow at 25% CAGR from 2017 to 2024

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Streaming Devices Market to surpass 25bn by
2024 Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights from Streaming Devices Market

• Streaming Devices Market size is set to exceed
  USD 25 billion by 2024 according to a new
  research report by Global Market Insights, Inc.
  The global unit shipments will grow at over 15
  CAGR from 2017 to 2024. A prime factor
  contributing to the high adoption of the
  streaming devices market is the rising
  penetration of cloud services in the media and
  entertainment sector. Pay-per-use Over-the-Top
  (OTT) services such as Netflix and Hulu contain
  immense video libraries stored at remote servers
  that allow their subscribers to have access to
  high quality video feed at any time.
  Additionally, these eliminate the need to
  download and store massive amounts of data.
• The rising trend of cord cutting is anticipated
  to revolutionize the media and entertainment
  delivery field and promote the growth of the
  streaming devices market. Traditional TV viewing
  services via cable and satellite TV incurs high
  costs and additional taxes, need for installation
  and management services, slow updates, and issues
  with data transmission and latency issues with
  transmission of data via a large area. In light
  of these issues, various consumers are moving to
  the digital platform with a reduction of over
  2.4 annual reduction from 2013 to 2017 and a
  growth of 6.5 million users that switched from
  cable pay TV.

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Continued...

• Customer subscriptions to OTT services such as
  Netflix and YouTube and the rising penetration of
  Netflix and Hulu original series which are
  generally not available on broadcast TV is
  anticipated to further drive away the demand from
  traditional TV viewing. For instance, in the U.S.
  Netflix had approximately 51 million paying
  subscribers as of 2017, a large number of which
  is largely attributed to the growing prominence
  of original net series. This trend is further
  reflected across the world is anticipated to
  contribute to the high adoption of the streaming
  devices market.
• The USD 30 100 pricing range in the streaming
  devices market is anticipated to exhibit the
  highest growth during the forecast timespan. The
  devices available in this segment generally are
  compatible with various types of TV resolutions
  such as Roku Ultra which is compatible with 4K
  and lower resolutions and are similar in
  functionality to the higher-end products.
  Furthermore, consumers in Asian countries,
  primarily in India and China, are more inclined
  to purchase lower cost products.

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Japan streaming devices market size, by
resolution type, 2016 2024 (Thousand Units)

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Continued...

• The growing prominence of 4K systems offering
  higher picture quality and is a major factor
  contributing to the high growth of the 4K UHD
  segment in the streaming devices market. The
  consumer electronics market is subject to
  constant technological advancements with higher
  resolution systems such as 4K UHD systems
  anticipated to replace traditional lower
  resolution systems by 2024.
• The economic boom in the Asia Pacific countries
  is largely contributing to the increase in
  disposable income allowing consumers to spend a
  larger amount on luxury electronic systems.
  Additionally, the increase in local players and
  the availability of low cost, high quality
  systems, rising reliance on the internet for
  media and entertainment services, and government
  initiatives for the development of broadband
  infrastructure is projected to drive the Asia
  Pacific streaming devices market demand.
• Players operating in the streaming devices market
  include Logitech International S.A., Google LLC,
  NOW TV, Azulle, Amazon.com, Inc., MyGica, Apple
  Inc., NVidia Corporation, and Roku, Inc.
  Companies are required to continuously launch new
  technologies and upgrade their software to
  sustain growth in the marketplace. For instance,
  in October 2017, Roku Inc. announced the launch
  of Roku OS 8 which delivers new features such as
  a Smart guide, faster updates and searches, and
  enhanced voice command controls.

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