𖦹🎞️ 📺 Insights on the Global Streaming Devices Market 📀☆🕵️ 👀

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I'm Vipul, and this is Leeds1888- Issue45.

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This newsletter will cover the following sections:-

• Top OTT Shows & Movies

• Insights on the Global streaming devices market

• Weekly Box Office figures.

• News Buzz

Top watched OTT Shows this week

Top Releases this week

Analysis- Global Streaming Devices Market Report 2023

Streaming platforms have brought about a significant disruption in the audio-visual broadcasting industry. Household names like Netflix, Amazon Prime, Disney Hotstar, Hulu, Spotify, and Apple Music have emerged, with more than 1.5 billion people worldwide embracing streaming services, ultimately turning it into a $100 billion industry.

While we often emphasise the transformative impact of streaming platforms on content consumption and the necessity for new regulations to adapt to the evolving streaming landscape, we tend to overlook the critical role played by the hardware that facilitates streaming on various devices. Recently, a global report on streaming devices was released, and today, I will share insights gleaned from this report. While I've reviewed multiple reports to provide you with these insights, I want to extend my appreciation to Fortune Business Insights for their extensive research in this market.

Introduction & Market Size

To understand the evolution of the streaming devices market, we need to trace its origins back to the years when the shift from traditional set-top boxes and cable television to internet-based streaming began. This transformation gained momentum around 2012-2014, primarily due to the rapid increase in data speeds facilitated by the introduction of 2G internet services. This surge in data transfer rates made it possible to transmit large volumes of data continuously over the internet.

Initially, streaming content was confined to web-based platforms, primarily accessed through desktop or laptop computers. As data speeds continued to improve, new software and hardware solutions were introduced to enhance the streaming experience. Initially, set-top boxes underwent upgrades to support streaming apps. Subsequently, smart TVs made their debut, equipped with built-in Wi-Fi and integrated streaming applications. Devices like Amazon Fire Sticks entered the scene, transforming conventional TVs into smart, streaming-capable televisions. Gradually, even gaming consoles became equipped with streaming applications.

According to research reports, the global streaming media devices market was valued at USD 27.69 billion in 2018 and is expected to reach USD 89.48 billion by 2026, demonstrating a compound annual growth rate (CAGR) of approximately 17% during the forecast period.

In this diverse market, a wide range of devices is used by consumers to access streaming content.

Device Segmentation

The streaming devices industry can be categorised based on five distinct parameters, as outlined below:

By Type

Within this category, two primary types of devices prevail: gaming consoles, which offer substantial computational power, and stand-alone streaming devices, including both streaming boxes and streaming sticks. It's worth noting that the growth of gaming consoles equipped with streaming capabilities is particularly pronounced in this category.

By Resolution

In terms of resolution, we have HD, HDR, and 4K streaming devices. As expected, the market for 4K resolution devices is experiencing the most rapid growth in this segment.

By Type of Application

This segment can be classified into audio-only and audio-visual streaming devices. Over the years, audio-visual devices have exhibited greater growth compared to audio-only devices.

By End-Use Application

Streaming devices are not limited to residential or end consumers. A substantial market for commercial streaming devices exists, where these devices are used to stream content in various settings such as hotels, restaurants, universities, stadiums, theatres, as well as in sectors like legal and healthcare. In fact, the commercial devices display the highest compound annual growth rate (CAGR) in this segment.

By Region

Based on factors like data network infrastructure, regional regulations, and consumption patterns, streaming devices are segmented across five distinct geographies: North America, South America, Europe, Africa, and Asia. Currently, the North American market boasts the highest growth rate, but as time progresses, the Asian markets are poised to surpass the American markets in growth.

Major Hardware and Software Players

Key players in the streaming hardware and software sector, including industry giants such as Apple Inc., Roku Inc., Google LLC, ASUSTeck Computer, and D-Link Corp, have spearheaded technological advancements in the field. Their contributions have significantly shaped the industry. Moreover, HiMedia, LG Electronics, Sony, NetGear, Western Digital, Amazon, Microsoft, Atari, and Bharti Airtel have also played crucial roles in the dynamic growth of the sector, collectively driving innovation and market expansion.

Factors Behind Growth 

1. The primary catalyst behind the remarkable expansion of the streaming devices market is undeniably the significant advancement in global data speeds. We now reside in a 5G-dominated world, where it takes mere seconds to download an entire movie. This substantial leap in data speed technology has been ingeniously harnessed by content publishers and streamers, who have introduced a wide array of applications and devices to elevate the streaming experience to new heights.

2. Furthermore, the continuous enhancement of computational capabilities in devices has provided an additional boost to this growth trajectory. Today's smartphones, for instance, are more powerful than the supercomputers of yesteryears. This surge in computing power equates to improved processing capabilities, ultimately translating into superior streaming performance.

Future of Streaming

As we continue to witness remarkable progress in data speeds, processing power, data storage, and the development of 3D content and AI, we can anticipate a future where streaming services will provide consumers with immersive, virtual, lifelike experiences. Innovations like the Apple Vision Pro, Meta Quest, Nuralink Bionic brain Chips and emerging technologies like the Metaverse offer us a tantalising glimpse into the promising future of streaming and streaming devices. This evolution is set to transform our digital experiences, making them more captivating and engaging than ever before.

Poll Time !

Box Office Collection Report

News Buzz!

• Not just the concert, but Taylor swifts, Eras Tour Film has also garnered her fans attention. Scheduled for a release on 13th October, The film has already clocked over $100 Million in advance bookings. Read more on this news on CNBC 

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Vipul