Global Smart TV Sticks Market 2019-2023 | Emergence of OTT Content Providers to Boost Growth | Technavio
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Technavio has published a new market research report on the global smart TV sticks market from 2019-2023. (Graphic: Business Wire)
A key factor driving the growth of the global smart TV sticks market is the increased benefits of smart TV sticks. Smart TV sticks are growing in popularity worldwide, thanks to its cutting-edge features that allow consumers to watch content from OTT providers such as Netflix, Hulu, Amazon Prime, and various other sources over TV sets. Further, smart TV sticks are available for a range of TVs including older TVs, high-definition TVs, and 4K TVs. This device also enables consumers to control the TV using mobile applications. Furthermore, these small and easily portable sticks are extremely fast and can work even at limited Internet speed. These devices have inbuilt storage which enables consumers to install new OTT applications coming into the market. Thus, the numerous benefits of smart TV sticks would augment the growth of the market in focus during the forecast period.
As per Technavio, the emergence of OTT content providers will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global smart TV sticks market research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global smart TV sticks market: Emergence of OTT content providers
Consumers are shifting from traditional broadcasting to on-demand streaming video. Consequently, several TV broadcasters are developing and introducing their own OTT platforms to boost the growth of their business. For instance, in 2015, Star network in India launched its own OTT platform; Hotstar. These platforms can also telecast live tournaments such as World Cups. This factor is increasing the popularity of these platforms and applications. Consumers can easily download all these applications in their smart TV sticks. This would give them an opportunity to get easy access to all the OTT platforms and applications through a single device.
“Apart from the increased benefits of smart TV sticks, factors such as the growing penetration of Internet, and advantages of OTT providers over cable TV providers are expected to fuel the growth of the global smart TV sticks market during the forecast period,” says a senior analyst at Technavio.
Global smart TV sticks market: Segmentation analysis
This market research report segments the global smart TV sticks market by type (non-4K, and 4K and above), and geographical regions (APAC, EMEA, and the Americas).
The Americas region led the market in 2018, followed by EMEA and APAC respectively. Although the APAC region held the smallest share of the market in 2018, it is expected to register the highest incremental growth during the forecast period.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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SOURCE: Technavio Research
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