India Smart TV Streaming Device Market to be Dominated by TV Sticks Segment
The India
smart TV streaming device market is witnessing by the rising demand for OTT
platforms and the increasing penetration of broadband connection leading to
factors driving the market growth during the forecast period.
According to
TechSci Research report, “India Smart TV Streaming Device Market– By Region,
Competition, Forecast & Opportunities, 2029,” the India Smart TV Streaming
Device Market is expected to grow during the forecast period due to the rising
popularity of online streaming services. Moreover, these devices provide a
convenient way for users to enjoy their favorite movies, TV shows, and other
digital content.
In today's
entertainment-watching, TV streaming devices are beneficial because they offer
popular content on TV direct from the Internet. Thus, the market for these
gadgets is currently seeing significant growth. These devices offer a
number of specialist apps like Netflix, YouTube, and Amazon Prime, which can transform
a standard TV into a smart TV. In response to consumer demand and establish a
market presence, many media streamer companies, including Google, Amazon, and
Apple, simultaneously released their products on the market.
The demand for
portable and small streaming devices has increased significantly. More and more
consumers are looking for portable solutions that provide them with the
flexibility to access popular content wherever they are. The compact
design of Fire Sticks allows users to easily carry them and plug them into any
compatible television, making them a popular choice among consumers who
prioritize portability.
The technology
giants like Amazon and Google have been actively involved in the India smart TV
stick market through their popular devices, Amazon Fire TV Stick and Google
Chromecast, respectively. These companies have formed partnerships with content
providers and streaming platforms to expand their content offerings. For
instance, Amazon has collaborated with well-known Indian streaming platforms
like Hotstar, Zee5, and SonyLIV to provide a wide range of content options to
Fire TV Stick users.
To improve the
product offering, there have been significant company partnerships and
cooperation in the Indian market for smart TV streaming devices. For instance,
the online retailer "Amazon" will start manufacturing its TV
streaming device locally at Chennai-based contract manufacturer Cloud Network
Technology, a subsidiary of Foxconn. To meet the demands of Indian consumers,
Amazon's first manufacturing facility in India produces hundreds of thousands
of Fire TV Stick units annually. Furthermore, the COVID-19 pandemic has
contributed to the growth of the smart TV streaming device market in India.
With people spending more time at home, there has been an increased demand for
home entertainment options, leading to a surge in the adoption of streaming
devices to access a wide range of entertainment content directly on the
televisions directly.
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The India Smart
TV Streaming Device Market is segmented based on device type, video support,
sales channel, region, and competitional landscape.
Based on device
type, the market is fragmented into TV stick and TV box. Among these, TV sticks
dominate in the market, due to a variety of factors, including increased
consumer demand for small and portable streaming devices, the market is
expected to develop throughout the projected period.
Based on video
support, the market is segmented into non-4K, 4K, and above. Based on sales
channel the market is segmented into online and offline. Among these segments
online is the fastest growing segment due to a wide selection of consumer goods
available on a single platform.
Key market
players in the India Smart TV Streaming Device Market include:
- Amazon Retail
India Private Limited
- Apple India
Private Limited
- Bharti Airtel
Limited
- Xiaomi
Technology India Private Limited
- Realme Mobile
Telecommunications (India) Private Limited
- Tata Play
Limited
- Google India
Private Limited
- CloudWalker
Streaming Technologies Pvt. Ltd.
- Motorola
Mobility India Pvt Ltd.
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“The increasing
demand for over-the-top (OTT) content and the convenience of streaming services
have driven the adoption of smart TV streaming devices. These are the major
trends that are anticipated to have a positive impact on the market growth
throughout the projected period. Also, the market is highly competitive, with
companies constantly launching new and improved devices to attract consumers.
Features such as 4K, Ultra HD streaming, voice control, and integration with
virtual assistants have become common in the latest smart TV streaming devices,
are other factors fueling the smart TV streaming device market in India”, said
Mr. Karan Chechi, Research Director with TechSci Research, a research-based
global management consulting firm.
India Smart
TV Streaming Device Market By Device Type (TV Sticks, TV Box), By Video Support
(Non-4K, 4K, Above), By Sales Channel (Online, Offline), By Region,
Competition, Forecast & Opportunities, 2029, has evaluated the future growth
potential India smart TV streaming device market and provides statistics and
information on market structure, size, share, and future growth. The report is
intended to provide cutting-edge market intelligence and help decision-makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges and
opportunities present in the smart TV streaming device market in India.
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