Global streaming devices market to reach $16.7 billion by 2026

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New York: The global streaming devices market size is expected to reach $16.7 billion by 2026, rising at a market growth of 13.9% CAGR during the forecast period, according to a research by ReportLinker.

Streaming is a technology that is used to provide content to different devices like computers, tablets, mobile devices, and laptops through the internet. Streaming conveys data by commonly two audio means and video. In addition to it, streaming is also helpful in connecting home theatre to the Internet or television, and thereby allowing streaming video and music even from online services.

The key players in the market include Amazon, Hulu, and Netflix, and they are constantly developing top streaming services and keep updating their content libraries to attract global customers.

The streaming media devices market is set to prosper in the forecast period, driven by the growing on-demand content ecosystem. Also, factors such as the convergence of new technologies, growing internet penetration, and the production of the number of mobile users will boost the growth of the market.

Based on the analysis presented in the Cardinal matrix, Google, Inc. and Apple, Inc. are the forerunners in the streaming devices market. Companies such as Amazon.com, Inc., Xiaomi Corporation, and Humax Holdings Co., Ltd., Logitech International S.A., Roku, Inc., Sony Corporation, and Nvidia Corporation are some of the key innovators in the market.

Recent strategies deployed in streaming devices market:
Partnerships, collaborations, and agreements

Oct-2020: Amazon came into collaboration with Roku, a manufacturer of digital media players. Following the collaboration, Roku has been bringing its streaming channel to Amazon’s Fire TV devices. The Roku Channel integrated with Alexa, allowing people to ask the digital assistant to launch the app. One can also start browsing its library of content by starting the app through the Fire TV search menu.

May-2020: Apple signed a distribution agreement with NBCUniversal, a mass media and entertainment conglomerate. Under this agreement, the latter aimed to launch its new streaming service Peacock on Apple. Peacock Free would be a free, ad-supported option with more than 7,500 hours of movies, shows, and live and on-demand programming across news, sports, reality, etc.

Apr-2020: Apple collaborated with WarnerMedia to make its streaming service, HBO Max, available on Apple devices. Customers can access HBO Max on the iPhone, iPad and iPod touch devices, as well as the Apple TV 4K and Apple TV HD. Those with second- and third-generation Apple TV models can stream HBO Max content from their iPhone or iPad to their TV with AirPlay.

Nov-2019: Amazon announced its collaboration with Disney+. Under this collaboration, Disney+ is available on Amazon Fire TV devices. The Disney+ app on Fire TV was also tied into Amazon’s universal search feature, which helps people request specific shows through Alexa with commands like “Alexa, play The Mandalorian.”

May-2019: Sony Corporation announced its partnership with Microsoft Corporation. Under this partnership, both the companies aimed to make innovations for enhancing customer experiences in their direct-to-consumer entertainment platforms and AI solutions. The companies also aimed to explore joint development of future cloud solutions in Microsoft Azure to support their respective game and content-streaming services.

Apr-2019: Google partnered with Amazon to serve users of their respective streaming video platforms. The official YouTube app comes to Amazon Fire TV devices and Fire TV Edition smart TVs, while the Prime Video app comes to Chromecast and other devices with Chromecast built-in. Prime Video app users can stream from the Prime Video catalogue, including Amazon’s original programming and 4K videos, and access their Prime Video Channel subscriptions. They also can use Amazon’s X-Ray feature in the app.

Acquisition and mergers

May-2020: Apple completed the acquisition of NextVR, a California startup that produces virtual reality live events content. The acquisition helped Apple’s development of VR and AR headsets with accompanying software and content.

Sep-2019: Logitech International announced an agreement to acquire Streamlabs, a leader in software and tools for live streaming, enabling game streamers to engage with viewers, growing their brands and channels, and monetizing their broadcasts across platforms like Twitch, YouTube, Mixer and Facebook. The acquisition would be a strategic complement to Logitech’s portfolio.

Jul-2016: Google acquired Anvato, a video-software platform. Anvato is the only video platform that guarantees video playback and monetization from signal to every screen. The acquisition allowed the company to provide its platform to various companies including NBC Universal, Fox Sports, Univision, and more that pursue multiscreen live-streaming, video publishing, live- and video-on-demand distribution, and monetization strategies.

Product launches and product enhancements

Oct-2020: Google launched the latest Chromecast with Google TV. It has launched with various gadgets like the Pixel 5, Pixel 4a 5G smartphones and Nest smart speaker. The Chromecast with Google TV operates on the new Google TV platform, the latest branding for the Android TV platform. There is a USB Type-C power adapter on the dongle and the remote takes two AAA batteries. It has 4K HDR at up to 60fps, Dolby Atmos, Dolby Digital Plus, Dolby Vision, DTSX, HDR10+, and h.265 streams. Additionally, the Chromecast with Google TV has dual-band Wi-Fi 802.11ac connectivity.

Oct-2020: Amazon announced new features to the Amazon Fire TV. With these features, users can now stream live TV in India. This new feature encompasses all live TV channels offered by streaming apps in one place that helps make discovering live content easier. The new Live tab on the navigation panel also offers Channel Guides to see which show is currently running, and upcoming shows through the day.

Oct-2020: NVIDIA introduced the NVIDIA Maxine platform. The platform provides developers with a cloud-based suite of GPU-accelerated AI video conferencing software for enhancing streaming video.

Sep-2020: Roku, Inc. launched the new streaming line-up for the US to include an all-new and redesigned Roku Ultra and the Roku Streambar. Roku Ultra delivers the best performance of any Roku player for less than $100, and was specifically designed for avid streamers. The Roku Streambar is the easiest way for consumers to upgrade and de-clutter their home entertainment systems.

Sep-2020: Roku, Inc. introduced Roku Express, the company’s first streaming device in Brazil. The Roku Express transformed most traditional TVs into a better Smart TVs. The Roku Express can be connected to most traditional TVs through HDMI to convert it into a smart TV with Roku’s operating system, providing consumers an intuitive home screen and access to 100,000+ movies and TV episodes via thousands of free and paid streaming channels.

Aug-2020: Xiaomi unveiled the Mi TV Stick in India. The new Mi TV Stick has a max output resolution of 1080p. It is more portable and affordable and can turn the regular non-smart TV to a smart one. It comes with an HDMI port that can be connected to TV. The stick comes with Android 9 TV OS pre-installed along with 1GB of RAM and 8GB of internal storage.

Jul-2020: Humax launched Humax H7, the advanced Android TV set-top. H7 is equipped with the latest Broadcom solution with 24K DMIPS CPU. It also applies the new multi-access environment optimization technology WiFi6 (11.ax) for providing an optimised environment for 4K video streaming and cloud gaming.

May-2020: Xiaomi introduced Mi Box 4K in India. It is a streaming box that runs Android TV. It comes with Netflix, Prime Video, Disney+ Hotstar, ZEE5, and YouTube out of the box, and one can always download additional apps from the Play Store. Consumers also get 4K playback with HDR10, Dolby Audio, and DTS 2.0 digital. The streaming box has Chromecast built-in, and it works as a Cast receiver, providing the ability to cast content from the phone or tablet directly to the streaming box.

Feb-2020: Humax launched a range of RDK devices for pay TV operators. The company also joined the RDK Video Accelerator programme and announced its first RDK Video Accelerator 4K IP reference set-top box. Humax’s RDK Video Accelerator set-top box is pre-integrated with the RDK application framework and the Metrological App Store. Humax also unveiled an RDK-based 4K Soundbox, GPON gateway and DOCSIS 3.1 gateway.

Sep-2019: Amazon introduced a range of new products with its Alexa voice assistant and Fire TV software built-in. Some are the new version of Fire TV Cube. The new version of the Fire TV Cube is up to two times faster. The new model helps in controlling TV, cable box and other inputs using voice.