APEJ to gain 8% share in the smart TV sticks market between 2018 and 2028, equating to around 27% by 2028
Asia-Pacific excluding Japan has been witnessing significant growth in the smart TV sticks market. APEJ is projected to grow its smart TV sticks market share by nearly 8% during 2018 and 2028. With this it become the second largest smart TV market, surpassing Europe. The espousal of western entertainment habits by the people in APEJ has led to the surge in demand for smart TV sticks. The modernization of network infrastructure and broadband has elevated the demand for live streaming, thereby boosting the growth of smart TV sticks market globally.
North America has been the dominant smart TV sticks market, commanding over 40% of the global demand. The U.S. accounts for over 40% share in the global smart TV sticks market. It is the largest consumer of OTT content, where its reach extends to nearly 54% of the households. An average U.S. home has a viewership of nearly 49 hours across the month. This figure itself states the demand of smart TV sticks in the country.
The top five countries in the smart TV sticks market is estimated to account for shipment of 18 million in 2018. China is estimated to witness strongest growth to feature as the second largest smart TV sticks market by 2028.
Home entertainment has been undergoing a drastic change, while the technology is empowering the viewers with all forms of accessibility as they would have dreamt at some time. The popularity of over-the-top (OTT) including smart TV sticks, has brought with itself wide set of opportunities for a variety of associated devices.
The modern living room experience in the U.S. features digital, OTT, and IoT enabled devices, including smart TV sticks. The digital devices include computer, smartphone, and tablet; OTT consists of smart TV sticks/ devices, smart TV, game console, DVR/ set top box, and internet blue ray player. Among the streaming devices, smart TV sticks/ box represent over 70% share in the U.S. OTT device market. Smart TV sticks and streaming devices has a reach of around 38 million, in contrast with 28 million homes with smart TV penetration. Roku, Amazon, Chromecast, and Apple are the key contenders in the streaming devices market in the U.S; however, apple has to take aside when we consider only the players offering smart TV sticks.
Over 40% of the U.S. OTT audience enjoy cordless service such as smart TV sticks, while satellite-based streaming being next in the line. The non-4k compatible smart TV sticks make up over 60% of the North American demand. However, large numbers of non-4k smart TV sticks are being replaced by the 4k and above versions. Also, most of the audiences that are newer to smart TV concept are preferring to buy the 4k and above versions of smart TV sticks.
While OTT viewership has become mainstream in the U.S., the other countries are gradually looking at it, thereby boosting the demand for smart TV sticks. Amazon has been enjoying the privilege of having its own e-commerce channel, which has led to the continuous strong growth of its smart TV sticks globally. Other providers’ direct to customer online offerings are limited to fewer countries, leading to a slightly lower growth. Google’s is also expanding its penetration of its Chromecast branded smart TV sticks.
Broadband penetration has been the most important factor for the growth of smart TV sticks demand. In most of the countries having low adoption of smart TV sticks, poor broadband infrastructure stands as the key factor. According to Internet live stats in 2017, household broadband penetration in the U.S. was more than 90%, which has enabled the high adoption of smart TV sticks. European countries including Germany, France and the U.K. are also expected to witness a strong penetration growth of, while most emerging economies are anticipated to reflect even stronger broadband penetration growth, making the grounds fertile for smart TV sticks in these countries.
The prices of smart TV sticks has been eroding continuously, therefore encouraging the volume growth. With the technological advancements, the smart TV sticks that are inching towards becoming obsolete are being offered at prices lower than consumer’s expectations. The prime day offers of Amazon are further encouraging customers for short term high volume purchase of smart TV sticks. The emergence of smart TVs embedded with streaming technology, has been to some extent obstructed the demand for smart TV sticks. However, in the short term this restraining implication are low for the smart TV sticks market.
FactMR offers a 10-year forecast on the global smart TV sticks market. The key objective of the report is to offer updates and information related to market opportunities in the global smart TV sticks market.
In revenue terms, the global smart TV sticks market is poised to grow at a forecast CAGR of 7.1%, during 2028- 2028. The smart TV sticks market report explores the factors that are driving the smart TV sticks market, and provides foresights about the opportunities that will shape this market in the years to come. The smart TV sticks market report also discusses about the factors that are restraining the smart TV sticks market, with their impact in short, medium, and long terms. The study includes an elaborate discussion on the prevailing trends in the smart TV sticks market.
Smart TV sticks market has been displaying moderate to high growth that varies from country to country. In the emerging economies including China, and India smart TV sticks market is displaying a strong double digit growth. The overall smart TV sticks market can be seen to be in the growth phase, while that in the U.S., it can be said that the market is between growth and maturity. In volume terms, the smart TV sticks market is projected to reach 65.6 million unit shipments by 2028.
Fact.MR analysts have segmented the smart TV sticks market into video support and sales channel. The objective of the video support segment is to provide statistics and insights on the smart TV sticks that are compatible with non-4k TVs and those that are compatible with the 4k and above versions. The 4k and above segment is anticipated to register higher growth as compared to its non-4k counterpart.
Segmentation by Video Support
- 4k and above
The sales channel segmentation includes the sales and revenue of smart TV sticks generated through the various modes of distribution. The sales channels have been analyzed prudently to cover all formats of distribution so that none of the revenue sources is missed out. Third party online channels are offering the highest sales to the smart TV sticks market.
Segmentation by Sales Channel
- Third Party Online Channels
- Direct to Customer Online Channels
- Franchised Electronics Outlets
- Independent Electronics Outlets
- Modern Trade Channels
The smart TV sticks study offers segmentation for six geographies and encompassing 23 countries across the globe. The selection of countries have been done in terms of total sales generated from each country. The segment-wise analysis have been given in each of the six regions. North America has been the key market for smart TV sticks accounting for over 40% share; however, its share is expected to decline, as its lost share will be gained by APEJ, and Europe in the coming years.
Segmentation by Region
- North America
- Latin America
- Rest of Latin America
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific excluding Japan (APEJ)
- Greater China
- South Korea
- ASEAN countries
- Australia & New Zealand
- ASEAN countries
- Rest of APEJ
- Middle East & Africa (MEA)
- GCC Countries
- South Africa
- Rest of MEA
The smart TV sticks report includes analysis such as year-on-year (Y-o-Y) growth, BPS analysis, market attractiveness, and absolute dollar opportunity. These set of analysis has been included to support the decision making process of the smart TV sticks industry stakeholders.
The study also includes the competitive landscape, wherein market structure and the competition amongst players have been included. This section includes market share analysis for Tier 1 and Tier 2 players, and competition analysis. Besides, the smart TV sticks report also offers company profiles section that includes the profiles of key competitors, their product offerings, challenges, focus areas, presence across the globe, segment share analysis, financial performance, key strategies, key developments, and SWOT analysis. The companies included in the smart TV sticks market report are Amazon.com Inc., Roku Inc., Alphabet Inc., Sky Plc (Now TV), Shenzhen Rikomagic Tech Corp., Dongguan Sonicway Electrical Applinaces Co. Ltd., ASUSTek Computer Inc., Shenzhen Tomato Technology Co. Ltd., Cloudwalker Streaming Technologies Pvt. Ltd.
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