Media streamer market faces downward pressure, though some growth remains

Worldwide demand for media streamers decreased by 3.7% in 2023, with shipments achieving just over 65 million units.

According to a new industry report from Futuresource Consulting, consumer interest in these standalone video content streaming devices has been impacted by ongoing economic difficulties, as well as the growing ownership of smart TVs. Yet while the specialist research firm anticipates demand to decline across the forecast period, it also highlights some areas of market growth and pockets of opportunity for vendors.

Smart TVs take control

“The consumer love affair with smart TVs is making life difficult for media streamer brands,” says Sophie Harding, Research Analyst, Futuresource Consulting. “Last year, smart TVs accounted for nearly four in every five TV shipments, and we expect this to get within a few percentage points of nine in ten shipments by 2028. There was also an absence of new features and product launches in 2023, limiting consumer motivation to upgrade their existing media streamers.”

USA leads the way, India prepares for growth

The USA is the largest market for media streamers by far, achieving five times the shipment volumes of second-position China. The UK follows close behind, taking third place.

While developed regions such as North America and Western Europe will experience a decline in shipments over the forecast period, Futuresource expects emerging markets to grow.

“India and the rest of Asia Pacific are two areas to watch,” says Harding. “Access to broadband is on the rise, there’s a mounting interest in video-on-demand services, and smart TV ownership remains relatively low. As a result, media streamers are perfectly placed to offer an affordable access point for digital media services.

“There’s also a modest opportunity for 4K UHD media streamers, which accounted for nearly 72% of the market in 2023, shipping 46.7 million units. As well as gaining share as the market declines, 4K UHD will also increase in volume, adding an additional million shipments in 2028 when compared with 2023. “

Amazon out in front

Amazon continues to head up the pack, capturing one-third of market volume in 2023, followed by Chromecast, Roku and Apple respectively, all with double-digit market share. In developing markets, Futuresource notes that Chinese vendors have been successful in increasing their market share, in comparison to the dominance of Western brands in developed markets.

An industry in overall decline

Futuresource expects interest and investment in media streamers to diminish over time, from both manufacturers and consumers. Driven by the growing ownership of smart TVs and an industry focus on the opportunities this creates, demand will continue to decline during the forecast period, with a CAGR of -4.2% expected for 2024 to 2028.

Futuresource Consulting’s Global Media Streamer Market Outlook provides detailed market analysis and forecasts to build a comprehensive view of the state of the market in 2024 and beyond. For more information or to make a purchase, please contact Ben at ben.thrussell@futuresource-hq.com.