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The global Casting Devices market is expected to witness a growth rate of 16.35% during the forecast period (2018 - 2023).
Casting devices are connected, unmanaged devices whose principal purpose is to receive on-demand content via internet, and display it on a screen. The increasing demand for convenient and cost-effective methods to access entertainment content with a lean back experience is impacting the growth of casting devices. The emergence of several technologies, such as 4K resolution, along with broadband access, will improve the demand of the casting devices, globally. Casting device growth depends greatly on primary entertainment streaming services, such as Netflix and Hulu, and ecosystems like Amazon Prime, Apple iTunes, and Google Play Store. Increasing options for watching content on smartphones, laptops, and tablets, coupled with the changing consumer behavior and adoption of several casting devices, are expected to increase during the forecast period.
Smart TV to occupy a Significant Market Share
An increased spending on electronic goods by consumers is a prime factor that is expected to increase the growth prospects of the market. In addition, high adoption of smart TVs in emerging markets and increased market penetration of the internet are other factors that are driving the market growth. Increased adoption of smart TVs in advertising is helping advertisers in expanding their consumer base. Another factor is the emergence of advanced technologies, such as gesture and voice recognition features in smart TVs.
North America to Hold the Major Market Share
US is expected to occupy the major share in the market, majorly due to the tech savvy population in this region. It is expected that by the end of 2020, approximately 30% of the households in the region that have internet connections will be using streaming media devices, in order to stream the content played on TV.
Key Developments in the Market
• April 2018 - Sony Electronics Inc. launched two new industrial 4K (3,840 x 2160; QFHD)/30p Functional Camera Blocks. The new FCB-ER8550 and FCB-ER8530 products feature Sony's unique Super Resolution Zoom (SRZ) technology, which enables both camera blocks to deliver an equivalent of 30x optical zoom at full 4K resolution.
Major Players: MICROSOFT CORPORATION, GOOGLE INC., SONY CORPORATION, ROKU, INC., SAMSUNG ELECTRONICS CO., LTD, ASUSTEK COMPUTER INC., LG ELECTRONICS INC., APPLE INC., PHILIPS ELECTRONICS, HISENSE CO. LTD, PANASONIC CORPORATION, NVIDIA CORPORATION, TTE TECHNOLOGY INC. (TCL), IGNITE TECHNOLOGIES INC., amongst others.
Reasons to Purchase this Report
• Impact of growing popularity of VR and 360-degree videos.
• Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
• Growth across various end-users segments, such as commercial and residential.
• Regional analysis of the market
• Identify the latest developments, market shares, and strategies employed by the major market players.
• 3 months analyst support, along with the Market Estimate sheet (in excel).
Customization of the Report
• This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
Casting devices are connected, unmanaged devices whose principal purpose is to receive on-demand content via internet, and display it on a screen. The increasing demand for convenient and cost-effective methods to access entertainment content with a lean back experience is impacting the growth of casting devices. The emergence of several technologies, such as 4K resolution, along with broadband access, will improve the demand of the casting devices, globally. Casting device growth depends greatly on primary entertainment streaming services, such as Netflix and Hulu, and ecosystems like Amazon Prime, Apple iTunes, and Google Play Store. Increasing options for watching content on smartphones, laptops, and tablets, coupled with the changing consumer behavior and adoption of several casting devices, are expected to increase during the forecast period.
Smart TV to occupy a Significant Market Share
An increased spending on electronic goods by consumers is a prime factor that is expected to increase the growth prospects of the market. In addition, high adoption of smart TVs in emerging markets and increased market penetration of the internet are other factors that are driving the market growth. Increased adoption of smart TVs in advertising is helping advertisers in expanding their consumer base. Another factor is the emergence of advanced technologies, such as gesture and voice recognition features in smart TVs.
North America to Hold the Major Market Share
US is expected to occupy the major share in the market, majorly due to the tech savvy population in this region. It is expected that by the end of 2020, approximately 30% of the households in the region that have internet connections will be using streaming media devices, in order to stream the content played on TV.
Key Developments in the Market
• April 2018 - Sony Electronics Inc. launched two new industrial 4K (3,840 x 2160; QFHD)/30p Functional Camera Blocks. The new FCB-ER8550 and FCB-ER8530 products feature Sony's unique Super Resolution Zoom (SRZ) technology, which enables both camera blocks to deliver an equivalent of 30x optical zoom at full 4K resolution.
Major Players: MICROSOFT CORPORATION, GOOGLE INC., SONY CORPORATION, ROKU, INC., SAMSUNG ELECTRONICS CO., LTD, ASUSTEK COMPUTER INC., LG ELECTRONICS INC., APPLE INC., PHILIPS ELECTRONICS, HISENSE CO. LTD, PANASONIC CORPORATION, NVIDIA CORPORATION, TTE TECHNOLOGY INC. (TCL), IGNITE TECHNOLOGIES INC., amongst others.
Reasons to Purchase this Report
• Impact of growing popularity of VR and 360-degree videos.
• Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
• Growth across various end-users segments, such as commercial and residential.
• Regional analysis of the market
• Identify the latest developments, market shares, and strategies employed by the major market players.
• 3 months analyst support, along with the Market Estimate sheet (in excel).
Customization of the Report
• This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
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The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
