Smart TV Sticks Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2024-2032F Segmented By Video Support Type (Non-4K, 4K and Above), By Sales Channel (Convenience Stores, Hypermarket & Supermarket, Online Channels), By Region, Competition
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Consumer Goods and Retail | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationSmart TV Sticks Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2024-2032F Segmented By Video Support Type (Non-4K, 4K and Above), By Sales Channel (Convenience Stores, Hypermarket & Supermarket, Online Channels), By Region, Competition
The Global Smart Tv Sticks Market is projected to rise in the forecast period owing to the rising demand for OTT platforms such as Netflix, Amazon Prime Video, Disney, and Hulu, contributing to the product's increased demand. Moreover, with the rising penetration of broadband connection in different countries with results in faster internet surfing speed will drive the market growth of smart tv sticks market.
A few well-known companies have begun offering online streaming services. As a result, smart TV sticks are highly sought after globally. Additionally, there aren't many commercial breaks or interruptions when watching, which is turning out to be the most significant feature boosting the growth of the global market for smart TV sticks. Moreover, the increasing video quality provided by the fire tv stick is also fueling the market growth as the entertainment industry is evolving. Most of the movies being created are of high video quality, such as 4K, 8K, etc., thus, fueling the demand for smart tv sticks in various countries. According to a report, Amazon, Inc. sold more than 150 million smart tv sticks in 2021.
The Smart TV Stick is a media streaming device that transforms the TV into a smart one. It enables users to access their preferred TV series and movies from well-known streaming services like Netflix, Hulu, HBO Max, Disney+, and Amazon Prime in one location on a famous, simple-to-use platform. Furthermore, the Smart TV Stick supports various apps that can replace cable if customers choose not to subscribe to cable services. By subscribing to live streaming services (such as Sling TV, Hulu + Live TV, YouTube TV, fuboTV, and others) to view your preferred TV shows, sports, news, and other live shows or on demand. While OTT viewing has entered the mainstream in the US, other nations are starting to catch on, which is driving up demand for smart TV sticks. Since Amazon has its own e-commerce platform, its smart TV sticks have seen consistent, significant growth on a global scale. Due to the fewer nations that other providers' direct-to-consumer web solutions are found at, growth has been slightly slower. Additionally, Google is increasing the market share of its Chromecast-branded smart TV sticks.
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Increasing Popularity of OTT Platforms is Aiding the Market Growth
Smart tv sticks are witnessing robust growth owing to the rising popularity of OTT platforms. OTT platforms such as Netflix, Amazon Prime Video, Disney, Hulu, etc., contribute to the product's increased demand. During COVID-19, most movie theaters were closed, and OTT platforms gained popularity as most movies; web series was being released on OTT platforms. Thus, the consumers who didn't own a smart television preferred to purchase smart tv sticks as they not only transformed their standard television into a smart television but also provided higher video quality with no advertisement interruptions.
Growing Penetration of Internet is Fueling the Market Growth
As per the data provided by World Bank in 2020, more than 59.9% of the world's population had an internet connection.
Increasing Demand from Developing Countries Will Drive the Market Growth
The demand for smart tv sticks is rising in developing countries owing to the rising penetration of the internet and television in these countries. According to World Bank, in China, more than 70% of the total population has access to the internet, and in Australia, more than 70% of the total population has internet access. Moreover, the rising entertainment industry in these countries is contributing to the demand for smart tv sticks. As per a report, the global movies and entertainment industry is propelling at a growth of 7.2%.
Market Segmentation
The Smart TV Sticks Market is segmented based on video support and sales channel. Based on video support type, the market is fragmented into non-4K, 4K, and above. Based on sales channels, the market is fragmented into convenience retailers, supermarkets & hypermarkets, and online channels. Along with this, the market analysis studies the regional segmentation to draw regional market segmentation, divided among North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
Company Profiles
Amazon.com, Inc., Apple Inc., Shenzhen Rikomagic Tech, CloudWalker Streaming Technologies, Roku, Inc., ASUSTeK Computer, Sky PLC, Alphabet, Inc., Shenzhen Tomato Technology, Xiaomi Corp., are
| Attribute | Details |
| Base Year | 2022 |
| Historical Years | 2018 – 2021 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Billion and CAGR for 2018-2022 and 2023-2028 |
| Report Coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments Covered | Video Support Sales Channel Region |
| Regional Scope | North America, Europe, Asia-Pacific, Middle East & Africa and South America |
| Country Scope | United States; Canada; Mexico; Germany; France; United Kingdom; Italy; Spain; Netherlands; China; India; Japan; South Korea; Australia, Vietnam; Saudi Arabia; UAE, South Africa, Turkey; Brazil; Argentina; Colombia |
| Key Companies Profiled | Amazon.com, Inc., Apple Inc., Shenzhen Rikomagic Tech, CloudWalker Streaming Technologies, Roku, Inc., ASUSTeK Computer, Sky PLC, Alphabet, Inc., Shenzhen Tomato Technology, Xiaomi Corp. |
| Customization Scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and Purchase Options | Avail of customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request) |
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