Global Media Streaming Devices Market, Forecast to 2024

Streaming Services Hasten Cord-cutting Transition from Pay TV to Direct-to-consumer Model While Smart TVs Limit Stand-alone Devices
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Published: 10 Dec 2018

Media streaming devices are connected, unmanaged devices whose primary purpose is to receive on-demand content via the Internet and display it on a television screen. Demand for media streaming devices was originally derived from cord-cutters looking for convenient, cost-effective ways to access entertainment content with a lean-back experience. Media streaming device shipment worldwide sold well over the last 4 to 5 years due to an expansion of streaming entertainment services with growing content libraries, new, yearly product introductions with upgraded capabilities and because of discontent with advertising on broadcast television and dissatisfaction at the increasing faster-than-inflation costs of cable and satellite pay television. Frost & Sullivan expects unit shipment for the global media streaming devices market to increase from 56.2 million in 2018 to 128.1 million in 2024, at a compound annual growth rate (CAGR) of 14.7% from 2018 to 2024. There are indications that continued growth will slow down slightly as products saturate mature markets until newer television technologies, such as 4K resolution and high dynamic range, coupled with good broadband access become more widespread across the globe. Media streaming device adoption depends heavily on underlying entertainment streaming services, like Netflix and Hulu, and device ecosystems like Amazon Prime, Apple iTunes, the Google Play Store, and Roku’s FandangoNOW. As entertainment consumers also have the option to watch content on phones, tablets, desktops, and laptops, media streaming device adoption also depends on consumer viewing habits preferring a lean-back experience for various short- and long-form content.

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