Rise in popularity of video game streaming devices and surge in demand for live streamed content drive the growth of the global streaming devices market. However, limitation of bandwidth restrains the growth to some extent. On the other hand, growing need for advanced technologies in video platforms to improve video quality would create new opportunities in the coming years.
According to the report, the global streaming devices market size was valued at $8.00 billion in 2018 and is estimated to reach $18.97 billion by 2027, growing at CAGR of 13.2% from 2020 to 2027.
COVID-19 scenario-
COVID-19 has accelerated the growth of streaming services. However, the manufacturing process for devices have been stopped in the initial phase of lockdown. Also, the supply chain disruption have caused a major impact.
However, the market has witnessed an increase in the demand for devices. Furthermore, the government in various regions have issued relaxations on regulations, thereby allowing the companies to restart device manufacturing processes.
The television (TV) segment to dominate the market throughout the forecast period-
Based on application, the television (TV) segment contributed to the largest market share in 2019, holding for nearly half of the global streaming devices market, and is expected to continue to dominate in terms of revenue throughout the forecast period. In addition, the segment is estimated to maintain the highest CAGR of 14.20% from 2020 to 2027. This is owing to rise in internet penetration increases the demand for streaming in TVs.
Explore More: https://www.alliedmarketresearch.com/streaming-devices-market-A06816
The residential segment to retain its lead position throughout 2027-
Based on end-use, the residential segment accounted for nearly two-third of the global streaming devices market in 2019, and is expected to continue its lead position throughout the forecast period. Furthermore, the same segment is also anticipated to register the highest CAGR of 14.0% during the forecast period. The increasing internet penetration and rising adoption of video streaming platforms, such as Netflix, Hulu, YouTube, Hotstar, and Amazon Prime, are driving the growth of the segment.
North America to lead the trail throughout 2027-
Based on region, North America contributed to nearly two-fifths of the global streaming devices market in 2019, and is expected to maintain its dominant share by 2027. This is owing to increase in awareness regarding over-the-top (OTT) media services and growth in popularity of online gaming in this region On the other hand, the Asia-Pacific region is estimated to portray the fastest CAGR of 14.7% from 2020 to 2027. This is attributed to the fact that the region is witnessing a dynamic change in the adoption of analytic solutions and services across multiple verticals.
Leading market players-
- Intel Corporation
- Nvidia Corporation
- Roku, Inc.
- Xiaomi Inc.
- Sony Corporation
- Samsung Electronics CO. Ltd.
- Microsoft Corporation
- Google LLC
- com, Inc.
- Apple Inc.
- Humax
As multimedia content is essential for modern branding lets take a look at how the live streaming apps are useful for brands.Host Q Session Companies can have a fixed time per week on a social live streaming platform to hold a live interactive session with their audience.
The users can post their question in advance or can ask questions on a comment in between live video.
Then the company could help him through the live video demonstration.
It only assures good reach and also helps in building their value.
When periscope was bought by Twitter, many came to know about this acquisition through video content rather than reading a blog.
And brands can ask best influencers to talk about them and can post those videos to increase their credibility.Live events If it is for live stream then how can live streaming the events, concerts, programs, and conference of your company couldn’t help!
In previous articles, we have discussed the ‘opportunities live streaming events’ provide.While that was theoretical, we push forward the point with a case study – how UFC’s OTT app with the help of its ‘Fight Pass’ along with ‘Pay-Per-View’ made it the Gold standard in the space.What is UFC?Before we get into the details of the app, a quick explanation of what it is:The UFC (Ultimate Fighting Championship) is the largest promoter of MMA (Mixed Martial Arts) fights, with around 40 events each year, more than 500 fighters under contract and a growing international fan base.While UFC has seen success since the turn of the millennium, the first UFC event was held in 1993.Why is UFC’s ott app successful?UFC runs a ‘Fight Pass’ which is a digital streaming service that gives fans of UFC content 24/7, 365-days a year.
Here’s 5 key reasons why UFC is the current reigning sports OTT champion globally:ContentContent is the most important aspect of the success of your OTT channel.UFC’s OTT app keeps fans engaged by offering them footage that can’t be found anywhere else.
Even football’s governing body, FIFA, can’t compete with this.
The UFC app through its ‘Fight Pass’ gives users access to the Early Prelims from the biggest UFC Pay-Per-View cards along with over 200+ live events from promotions such as Invicta FC, GLORY Kickboxing, QUINTET (Team Submission Grappling), Eddie Bravo Invitational, Polaris, and many more.AvailabilityOnce the content is in, we have stated the importance of being available cross-platform.
UFC has this covered by being available across devices, including Laptops, Apple TV, Xbox One, Amazon Fire TV, iPad, iPhone, Android devices, Chromecast, Roku, Samsung Smart TV, and LG Smart TV.
UFC’s ‘Fight Pass’ is available at US$ 9.99 per month or an annual package of US$ 95.99.
Online video consumption has so far been rapidly growing in popularity with all sorts of interested viewers.
The broadcasting industry has been witnessing a huge upsurge since the pandemic.
In this time many content owners, video publishers, and other businesses find online video content to market in various ways and inclined purposes.
Once you explore why to choose a self-hosted video streaming platform, you can showcase your brand across various multimedia channels like web, mobile smart TV and gather potential customers.Important Benefits Of Self-Hosted Video StreamingPrivacy And ControlThe online streaming space that is purchased by you, can be owned forever without any copycatting or digital rights issue.
Step up to own your self-hosted hls video player, carrying longevity-controlled ownership with privacy-barred solutions.Customizable DesignAs you have maximized control over your video workflows, you can also have thematic customizations with respect to its user interface.
Now you can leverage managed upgrades to ensure the latest alluring thumbnails within your self-hosted video hosting networks.Control On AudienceThe key aspect that controls your entire media publishing business is inter-dependent on digital distribution rights that isn’t ever compromised.
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