August 12, 2019 by Steve Blade
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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.
Sales of smart TV sticks are likely to remain concentrated in the developed regions of United States, given the high purchasing power parity of individuals in the country. However, emerging economies of Asia Pacific excluding Japan (APEJ) region, such as China and India have showcased high inclination toward adoption of smart TV sticks. The report forecasts that by end of 2028, the demand for smart TV sticks in China is projected to grow at a meteoric pace with its sales volume crossing 6 million units.
The report foresees that the sales of smart TV sticks that do not possess 4K video support are high as compared to their 4K counterparts. The non 4K smart TV sticks sales are likely to cross US$ 950 Mn in 2019, leading the smart TV sticks market and are expected to maintain status quo throughout the period of assessment. However, in the coming years, the demand for 4K video support smart TV sticks is projected to expand at a significant pace, albeit at a lower base as compared to non 4K smart TV sticks.
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Segmentation by Video Support
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.
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
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.
Overall, the market for smart TV sticks has portrayed a positive outlook and is expected to grow at an optimistic speed in the coming years, offering new growth opportunities for players. Contact Fact.MR to know more captivating insights on the smart TV sticks topic.
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