Dublin, Feb. 05, 2024 (GLOBE NEWSWIRE) -- The "India Smart TV Streaming Device Market Competition, Forecast and Opportunities, 2029" report has been added to ResearchAndMarkets.com's offering.
With rapid technological advancements and surging demand for streaming content, the India Smart TV Streaming Device Market is poised for significant expansion between 2025 and 2029. Enhanced portability and the convenience of compact devices are propelling the market forward, transforming entertainment experiences across Indian households and commercial spaces.
The trend towards more intelligent, connected living spaces has led to increased consumer preference for convenience and streamlined access to entertainment content. The emergence of smart TV streaming devices such as TV sticks and TV boxes is reshaping how audiences consume media, providing a gateway to a plethora of streaming services and apps without the necessity for traditional cable subscriptions.
Market Drivers and Trends
- The burgeoning home entertainment sector and IoT integration in modern living rooms significantly bolster the market.
- Smart TV sticks, crucial for on-demand content access from extensive online streaming libraries, are witnessing a surge in adoption.
- OTT platforms' growth during the pandemic has accelerated, further pushing the demand for streaming devices.
- Technological enhancements have led to the introduction of features like 4K Ultra HD resolution, HDR support, and integration with virtual assistants like Amazon Alexa and Google Assistant.
Integrated Voice Control Technologies
The inclusion of voice assistants in these devices offers a seamless and hands-free way to control streaming content and interact with other smart home devices, aligning with the broader adoption of voice control innovations.
Challenges in the Indian Market
Despite these advancements, market penetration is challenged by the proliferation of smart TVs and intense competition among manufacturers. Price sensitivity within the Indian market could also influence growth trajectories for smart TV streaming devices.
Opportunities Abound Amidst Streaming Wars
As the entertainment industry continues to expand and broadband access becomes more widespread, smart TV streaming devices will enjoy greater market penetration. The increasing subscriber base, as reported by the Telecom Regulatory Authority of India (TRAI), underpins the potential for rapid growth in this sector.
Market Segmentation Insights
The market is segmented based on factors such as device type, video support quality, and sales channels, with further regional insights highlighting North, South, East, and West India markets.
Competitive Landscape and Key Players
The market features prominent players that have played a significant role in the development and accessibility of streaming devices in India. They have set industry benchmarks through customer-centered innovations and strategic market positioning.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 72 |
| Forecast Period | 2023-2029 |
| Estimated Market Value (USD) in 2023 | $301.23 Million |
| Forecasted Market Value (USD) by 2029 | $662.03 Million |
| Compound Annual Growth Rate | 14.1% |
| Regions Covered | India |
A selection of companies mentioned in this report includes:
- 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.
For more information about this report visit https://www.researchandmarkets.com/r/rlctzo
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