Global Streaming Media Devices Market to Reach $24.2 Billion by 2027

Strategic Insights -

The global streaming media devices market size reached $10.4 billion in 2021, and is expected to grow at a compound annual growth rate (CAGR) of 15.11% from 2021 to 2027, reaching $24.2 billion by the end of the forecast period. The increasing demand for online streaming services, driven by growing internet penetration and high-speed communication infrastructure, is a key factor contributing to the market's growth.

Key Takeaways:

  • The global streaming media devices market size reached $10.4 billion in 2021 and is expected to reach $24.2 billion by 2027, exhibiting a CAGR of 15.11% during the forecast period.
  • The market is driven by the growing preference for online streaming services, increasing internet penetration, and the development of high-speed communication infrastructure.
  • The market is also influenced by the growing library of online streaming services, inflating rates of cable and satellite pay TV, and the adoption of online meeting services.
  • Key companies in the market include Google LLC, Microsoft Corporation, Sony Corporation, and Amazon.com Inc.
  • Manufacturers are investing in research and development activities to introduce upgraded streaming devices with higher resolutions like 8K.
  • The market is categorized based on device type, application, and end-use, with game consoles, media streamers, and smart TVs being the key device types.

Statistics:

  • The global streaming media devices market size reached $10.4 billion in 2021.
  • The market is expected to grow at a CAGR of 15.11% from 2021 to 2027.
  • The market is expected to reach $24.2 billion by 2027.
  • The global streaming media devices market is driven by the increasing demand for online streaming services, growing internet penetration, and high-speed communication infrastructure.
  • The market is expected to see significant growth in Asia Pacific, Europe, and North America.

Sources:

  • ResearchAndMarkets.com - "Streaming Media Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report.
  • M2 Communications - M2 PressWIRE report dated January 3, 2023.