The global Smart TV Sticks Market size is anticipated to reach USD 22.7 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 8.2% over the forecast period. Factors such as ability to provide OTT content, IoT enabled smart homes, changing home entertainment concept, and penetration of broadband are some of the primary factors driving the global market.
Smart TV sticks are providing the consumers with
entertainment content of their choice from the leading providers such as
Netflix, HULU, and Amazon Prime. In U.S., smart TV sticks/box holds 70.0% share
among other streaming devices such as smart TVs, game console, set top box, and
internet blue ray player.
North America is an early adopter of technology,
therefore it occupies a large share in the global industry. Increased
adaptation of smart connecting devices, broadband penetration, and OTT content
have been some of the driving factors in this region. On an average, a single
U.S. home has viewership of approximately 49 hours across the month, which is
the highest of all countries. Prominent penetration of this market has been
boosting the growth of the U.S. smart television stick industry.
Hypermarket and supermarket held the largest share of
48.0% in 2018. For instance, Chroma is the leading retailer of consumer
electronics in India with 125 stores in 28 cities in India, offering a variety
of smart TV sticks. The online distribution channel is expected to expand at
the highest CAGR of 8.6% from 2019 to 2025, owing to an increase in the number
of internet users, fast paced lifestyle, ease of internet access, and
penetration of e-commerce among the manufacturers.
Developing countries such as India and China are expected
to witness high demand in the coming years. China is likely to register the
highest CAGR of 9.2% from 2019 to 2025. Growing consumer inclination towards
the western entertainment content in these countries is the prime factor
driving the market in this region. Modernization of network infrastructure,
along with easy availability of high quality broadband service, has accelerated
the demand for live streaming, thus spurring the growth of the smart TV stick
market in Asia Pacific. For instance, according to Business Line, the 5G
technology has been standardized to work on all bands in India.
The industry is dominated by leading players such as
Amazon.com, Inc.; Roku, Inc.; Google; Apple Inc.; Sky PLC; ASUSTeK Computer;
Shenzhen Rikomagic Tech; Dongguan Sonicway Electrical Appliance; Shenzhen
Tomato Technology; and CloudWalker Streaming Technologies.
Request a sample copy or view summary of this
report @ https://www.grandviewresearch.com/industry-analysis/smart-tv-sticks-market
Further key findings from the study suggest:
- By
distribution channel, hypermarket and supermarket held the largest share
of 48.0% in 2018
- The
online channel segment is expected to expand at a CAGR of 8.6% from 2019
to 2025 due to rising penetration of e-commerce and low cost of startups
- North
America held the largest share in the global market.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
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Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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