Smart TV sticks market size to grow by USD 612.44 million from 2022 to 2027, Growing Penetration of the Internet to boost growth - Technavio
NEW YORK, March 10, 2023 /PRNewswire/ -- The smart TV sticks market size is expected to grow by USD 612.44 million from 2022 to 2027. The growth momentum of the market will accelerate at a CAGR of 7.78% during the forecast period, according to Technavio. Factors such as the increasing benefits of smart TV sticks, and the advantages of OTT providers are driving the market growth. Some of the key trends in the market are the emergence of OTT content providers and the growing number of product launches. However, the rising use of mobile electronic devices, restrictions on certain digital content, and security issues related to smart TV sticks are challenging market growth. For more insights on the historic data (2017 to 2021), and forecast market size (2023 to 2027) – Request a report sample
Smart TV sticks market 2023-2027: Market dynamics
The growing penetration of the Internet is driving the market growth. 4G and 5G technologies enable end-users to connect with the high-speed Internet. Moreover, the rise in the use of broadband also supports market growth. For instance, there were more than 749 million Internet users in India. In 2021, the US had more than 302 million internet users. These factors will encourage consumers to consume digital content, which, in turn, will increase the demand for smart TV sticks during the forecast period.
The emergence of OTT content providers is a critical trend in the market. Consumers are shifting from watching traditional broadcasts to on-demand streaming videos. Hence, many TV broadcasters are focusing on expanding their businesses by launching their own OTT platforms and applications. In 2021, OTT platforms had 2,709.02 million users. Consumers can download OTT applications on their smart TV sticks to get easy access. These factors will support market growth during the forecast period.
Restrictions on certain digital content are impeding the market growth. Acquiring rights to distribute content on a new platform is challenging, as online digital content players need to comply with the rules and regulations of different countries. In addition, there is high competition among these players. They compete on parameters such as features, price, and functionality. These factors will hinder the market growth during the forecast period.
Smart TV sticks market 2023-2027: Scope
Our smart TV sticks market report covers the following areas:
Smart TV sticks market 2023-2027: Segmentation
Learn more about the contribution of each segment of the market. Download a sample
Smart TV sticks market 2023-2027: Vendor analysis
We provide a detailed analysis of around 25 vendors operating in the smart TV sticks market, including Actions Microelectronics Co. Ltd., Amazon.com Inc., Apple Inc., ASUSTeK Computer Inc., BBK Electronics Corp Ltd, Bharti Airtel Ltd., Cixi Jieke Electronics Co. Ltd., CloudWalker Streaming Technologies Pvt. Ltd., Dadocer, Dish TV India Ltd., Dongguan Sonicway Electrical Appliance Co. Ltd, Geniatech Inc., Google LLC, NVIDIA Corp., Roku Inc., Shenzhen Rikomagic Tech Corp. Ltd., Shenzhen Tomato Technology Co. Ltd., Topleo Technology Ltd., Xiaomi Inc., and Comcast Corp.
Smart TV sticks market 2023-2027: Key Highlights
Grow your profit margin with Technavio – Buy the report!
The smart plug market size is expected to increase by USD 6.39 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 29.7%. Furthermore, this report extensively covers smart plug market segmentations by technology adopters (early majority, innovator, and early adopters), end-user (residential and commercial), and geography (North America, Europe, APAC, the Middle East and Africa, and South America).
The smart bed market size is expected to increase to USD 1.13 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 7.52%. Furthermore, this report extensively covers smart bed market segmentation by application (healthcare, residential, and hospitality) and geography (North America, Europe, APAC, South America, and Middle East and Africa).
Gain instant access to 17,000+ market research reports.
Browse for Technavio consumer discretionary market reports
Table of Contents :
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
View original content to download multimedia:https://www.prnewswire.com/news-releases/smart-tv-sticks-market-size-to-grow-by-usd-612-44-million-from-2022-to-2027--growing-penetration-of-the-internet-to-boost-growth---technavio-301768165.html
Keynote Presentation by Genesys: Goodbye, NPS. Hello, People-centric, End-to-End Experience Benchmarking!
Cybersecurity Solutions Session