Portland, Oct. 01, 2020 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global streaming devices market was pegged at $8.00 billion in 2018 and is projected to garner $18.97 billion by 2027, registering a CAGR of 13.2% from 2020 to 2027.
Increase in popularity of video games streaming devices and rise in demand for live-streamed content have boosted the growth of the global streaming devices market. However, limitations regarding bandwidth hamper the market. on the contrary, growing need for advanced technologies in video platforms to enhance video quality is expected to create lucrative opportunities in the future.
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Covid-19 scenario:
- During the Covid-19 pandemic, the demand for streaming services has increased. However, as the manufacturing process has stopped in the initial phase of lockdown, the market is negatively impacted.
- Moreover, the disrupted supply chain has hampered the market.
- Governments of various countries have issued relaxation on regulations and allowed companies to resume the manufacturing process, which could help the market growth back on track.
The global streaming devices market is segmented on the basis of component, sales channel, price range, application, end user, and region. Based on component, the market is divided into hardware and software. On the basis of sales channel, the market is categorized into online and offline.
Based on application, the market is classified into TV, gaming consoles and others. The TV segment is expected to manifest the highest CAGR of 14.2% during the forecast period. Moreover, the segment dominated the market in 2019, accounting for nearly half of the market.
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On the basis of end user, the market is divided into residential & commercial. The residential segment is expected to portray the highest CAGR of 14.0% during the forecast period. In addition, the segment dominated in 2019, accounting for two-thirds of the market.
The global streaming devices market is analyzed across various regions such as North America, Europe, Asia-Pacific, and region. The market across the Asia-Pacific region is expected to manifest the highest CAGR of 14.7% during the forecast period. However, the market across North America held the largest share in 2019, contributing to nearly two-fifths of the market.
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The global streaming devices market report includes an in-depth analysis of the major market players such as Nvidia Corporation, Sony Corporation, Samsung Electronics CO. Ltd., Google LLC, Intel Corporation, Roku, Inc., Xiaomi Inc., Microsoft Corporation, Amazon.com, Inc., Apple Inc., and Humax.
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