Digital Media Adapters market is projected to grow at a double-digit CAGR over the forecast period 2017 to 2022. A digital media adapter is used to receive and view the video content through a set-top box, possessing in-built Wi-Fi network, connected to a television.
Improving broadband speed is one of the major drivers of the global digital media adapters market.
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Expanding purchasing power and rapid urbanization is leading to increasing usage of digital media adapters among consumers.Growing number of people across the globe watching OTT (Over-the-top) content is significantly bolstering the global digital media adapter market growth over the next five years.
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By type, Apple TV accounted for the largest market share in 2016 owing to the number services being provided by Apple to its users. Recently, on April 2017, ESPN released a redesigned and rebranded app for Apple TV that includes auto-playing live streams at launch and new on-demand content.
Moreover, rising fame of Netflix and Amazon TV shows has encouraged Apple to make its own TV shows for distribution on the Apple TV. Recently, the company launched âPlanet of the Appsâ which can be streamed to Apple Music.
Geographically, North America held the largest market share in 2016 due to the strong presence of key digital media adapters vendors in the region along with the high demand for video streaming by high-income consumers in developed countries such as the U.S. and Canada. Growing smart home industry in North America is further fuelling the demand of digital media adapters in this region.
The worldwide expansion of Netflix and Amazon Prime is further propelling the regional market growth in developing economies such as China and India. This rise in popularity is attributed to the attractive interface along with a range of well-maintained applications, ensuring these adapters as a popular option for video streaming despite the availability of alternatives such as smart TVs and gaming consoles.
Prominent key market players in Digital Media Adapters market include Apple, Google, Roku, and Cisco Systems among others. Growing demand for OTT content across the globe is presenting significant opportunities for vendors to engage in partnerships with media channels and gain a larger market share.
In 2016, media conglomerate Viacom made a minority investment in Roku.
In this report, Digital Media Adapters market is segmented by type and geography:
Amazon Fire TV Stick
Roku Streaming Stick
Europe Middle East and Africa
The Middle East and Africa
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