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Increasing popularity for viewing of various streaming services such as Netflix, Amazon, and Hulu coupled with different individual preferences for content viewing is anticipated to be one of the major factors driving the media streaming devices market. Lack of standardization of services hinders the adoptions of these devices posing a challenge to the growth of media streaming devices market. Changing individual lifestyles and preferences coupled with increasing disposable incomes with consumers provide new opportunities to the players operating in the media streaming devices market.
Watching and streaming content over the television has undergone a paradigm shift in the last few years owing to various factors, as well as the emergence of new innovative devices. Demands of TV personalization and watching content as per own convenience has led to the emergence of numerous OTT applications, and streaming devices for these applications. The streaming devices are predominantly used for watching internet-based TV through any of the streaming services. Apart from this, the devices also offer value-added capabilities such as music streaming and web-surfing.
The key players influencing the market are Amazon, Inc., Apple Inc., Google LLC, LG Electronics Inc., and Microsoft Corporation (Xbox). Also, NVIDIA Corporation, Roku, Inc., Samsung Electronics Co. Ltd., Sony Corporation, and Vizio, Inc. are a few other important players in the media streaming devices market.