The global smart TV sticks market is expected to post a CAGR of almost 8% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global smart TV sticks market 2019-2023 (Graphic: Business Wire)
Smart TV sticks are portable, and easy to use. These devices have inbuilt storage which enables users to install new OTT apps. Apart from HD TVs and 4K TVs, smart TV sticks are also available for older TV models. On top of this, these devices can also function at limited internet speeds. These benefits offered by smart TV sets enable consumers to view online digital content on their TV sets in an easy and affordable way. This is driving the growth of the global smart TV sticks market.
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As per Technavio, the growing number of product launches will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Smart TV Sticks Market: Growing Number of Product Launches
Vendors in the market are making significant investments in R&D to develop new products with innovative technologies. For instance, some vendors are offering smart TV sticks that allow users to operate using voice commands. The incorporation of such technologies will enable vendors to gain a competitive edge in the market. For instance, in September 2018, Amazon.com launched Amazon Fire TV stick with 4K Ultra HD and HDR capabilities. Many such product launches are expected to boost the growth of the global smart TV sticks market during the forecast period.
“Increasing penetration of smart TVs and the emergence of numerous OTT content providers will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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Global Smart TV Sticks Market: Segmentation Analysis
This market report segments the global smart TV sticks market by type (non-4K and 4K and above) and geography (Americas, APAC, and EMEA).
The Americas region led the market in 2018, followed by EMEA and APAC respectively. During the forecast period, the Americas region is expected to maintain its dominance over the market. This is due to the rising demand for online digital content services in North America and Latin America.
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 ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Geographic comparison
- Key leading countries
- Landscape disruption
- Competitive scenario
- Vendors covered
- Vendor classification
- Market positioning of vendors
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