Streaming Devices Market Analysis

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.