Smart TV Sticks Market Size to Reach USD 57295 Million by 2029, Says The Maximize Market Research.

Smart TV Sticks Market was valued at USD 37750 Million in 2021, and is expected to reach USD 57295 Million by 2029, exhibiting a CAGR of 5.35 % during the forecast period (2022-2029).


Pune, Jan. 27, 2023 (GLOBE NEWSWIRE) -- The Latest Smart TV Sticks Market Report by MMR offers insights into top business strategies, market segments, trends, and share analysis by region. The report also covers the growth analysis of leading key players in the Smart TV Sticks Market. As per Maximize Market Research, “Smart TV Sticks Market” was valued at USD 37750 Million in 2021, and is expected to reach USD 57295 Million by 2029, exhibiting a CAGR of 5.35 % during the forecast period (2022-2029).

Smart TV Sticks Market Research Methodology:

"Smart TV Sticks Market" report presents a comprehensive market overview, market shares, and growth opportunities by Distribution Channel and regions. The global market size and share for a given segment are estimated by using qualitative & quantitative Analysis. Smart TV Sticks market market research report and other insights are carefully reviewed & examined by the senior research team to ensure that the research methodology and all information provided is accurate, analyst assumptions are carefully documented & conclusions are well-supported.

A bottom-up approach was employed for estimating the Smart TV Sticks Market size. The analysis of key competitors, including market leaders, followers, and new entrants, covers each aspect of the market. The Smart TV Sticks Market size is estimated based on company revenues. The analyst has also given profiling of the key players in the Smart TV Sticks Market. For companies, where revenue information is not easily available, their contribution to the total market size is considered relatively modest. Primary research was carried out through emails, telephonic conversations, referrals, professional networks, and formal interactions to get accurate information about the market size, share, growth, and forecasts.

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Global Smart TV Sticks Market Overview

Smart TV sticks provide on-the-go entertainment content of the consumer's choice and accessibility to all kinds of media content, including music, movies, shows, and series online. Furthermore, technological advancements in televisions, such as powerful speakers and big screens, are allowing consumers to spend more time watching their content on television. There are 38 million homes in the United States that use smart TV sticks, while there are only 28 million households with devices that can access streaming content through a screen on the wall. The leading manufacturers of these gadgets in the US hold a significant share in this market: Apple, Chromecast, and Amazon all have around one-third of sales. They each cater to different user groups, which has helped contribute to growth within this global market.

Global Smart TV Sticks Market Dynamics

The growth of the market is due to the smart TV sticks that allow users to watch over-the-top content from leading providers such as Netflix, Hulu, and Amazon Prime. Changes in home entertainment with IoT-enabled devices and broadband penetration are also contributing factors to the market’s growth.

According to MMR report study, 40 percent of the U.S. OTT viewing population prefers smart TV services over satellite-based streaming. The most common living room devices in the U.S. that provide a modern living experience are digital, IoT-enabled devices, and smart TV sticks and boxes, which hold a 70 percent share of the market among other streaming devices such as smart TVs, game consoles, set-top boxes, and internet blue-ray players. With the increasing popularity of smart TV sticks in the United States, countries around the world are adopting them, which has led to growth in the market. Amazon has its own e-commerce channel, which contributes to the increased sales of their Fire TV stick, namely, the Amazon Fire Stick.

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Global Smart TV Sticks Market segment Insights

Based on distribution channel, the hypermarket and supermarket segment held the major share in 2021, accounting for almost 39.21 percent of the total smart TV stick market. In addition, the sector is expected to register a maximum CAGR of 6.94 percent during the forecast period, due to the benefits they offer to consumers, including real-time purchase decisions, different brands to choose from, and guidance from sales executives on selecting the best product. For instance, Chroma is the top retailer of consumer electronics in India. Presently, there are 125 stores in 28 cities in India offering a variety of smart TV sticks.

Global Smart TV Sticks Market Regional Insights

North America is a leading region in terms of adopting new technologies. In the year 2021, North America held 32 percent of the market share for smart TV sticks. The main factors contributing to this growth are the increasing adaptation of connected devices, broadband penetration, and the availability of OTT content. For example, homes in the United States watch on average 49 hours of streaming content each month, more than any other country.

Market Size in 2021USD 37750 Mn.
Market Size in 2029USD 57295 Mn.
CAGR5.35 % (2022-2029)
Forecast Period2022-2029
Base Year2021
Number of Pages250
No. of Tables112
No. of Charts and Figures116
Segment CoveredDistribution Channels
Regional ScopeNorth America, Europe, Asia Pacific, Middle East and Africa, South America
Report CoverageMarket Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis.

Global Smart TV Sticks Market Segmentation

By Distribution Channel:

  • Online
  • Hypermarket & Supermarket
  • Convenience Stores
  • Specialty Store

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Global Smart TV Sticks Market Key Competitors:

  • Amazon.com, Inc.
  • Roku, Inc.
  • Google.
  • Apple Inc.
  • Sky PLC
  • ASUSTeK Computer
  • Shenzhen Rikomagic Tech
  • Dongguan Sonicway Electrical Appliance
  • Shenzhen Tomato Technology
  • CloudWalker Streaming Technologies
  • Siver Alex
  • Xiomi
  • DishSMRT
  • Torres Alexa
  • Other Key Players.

Key questions answered in the Global Smart TV Sticks Market are:

  • What are Global Smart TV Sticks?
  • What is the growth rate of the Global Smart TV Sticks Market over the forecast period?
  • What is the nature of competition in the Global Smart TV Sticks industry in developed economies and developing economies?
  • Who are the key players in the Global Smart TV Sticks Market?
  • Who are the market leaders in Global Smart TV Sticks in Europe?
  • Who are the market leaders in Global Smart TV Sticks in USA and Canada?
  • Who are the market leaders in Global Smart TV Sticks in India, China, Japan, and South Korea?
  • What are the factors affecting growth in the Global Smart TV Sticks Market?
  • Who held the largest market share in the Global Smart TV Sticks Market?
  • What are the factors for the growth of the Asia-Pacific region in the Global Smart TV Sticks Market?

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Key Offerings:

  • Market Share, market size, its growth rates & Forecast by Revenue | 2022−2029
  • Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
  • Market Segmentation – A detailed analysis by Distribution Channel and regions.
  • Competitive Landscape – Top Key players and Other Prominent Vendors

Maximize Market Research is leading electronics research firm, has also published the following reports:

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TV Transmitter Market: The market size is expected to reach USD 1064.86 Mn in year 2029, at a CAGR of 4.50 percent during the forecast period. The report has covered Country market trends with a competitive landscape.

Global Broadcasting & Cable TV Market: The market size was valued at USD 316.19 Bn. in 2021 and the total revenue is expected to grow at 3.5 percent through 2021 to 2029, reaching nearly USD 416.36 Bn.

Laser TV Market: The market size was valued at USD 2.37 Bn. in 2021 and the total revenue is expected to grow at 3.5 percent through 2021 to 2029, reaching nearly USD 22.32 Bn.

4K Tv Market: The market size was valued at USD 202.07 Bn. in 2021 and the total revenue is expected to grow at 23.2 percent through 2021 to 2029, reaching nearly USD 1072.49 Bn.

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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