iCrowdNewswire Mar 2, 2021 10:00 PM ET
Casting assign to a process of delivering video, photos or other media files from one device like mobile, Tablets or PC to a television or connected TV device. Casting device helps to cast a particular file on TV & users can do other activities in the tablet or PC, mobile while the file is still playing on the TV. The growing adoption of smart TVs & the rise in development of new technologies like 4k resolution is creating opportunities for the global casting devices market over the forecast period.
Market Drivers
The increase in consumption of video-on-demand (VoD) services is a key driving factor which expected to boost the demand for casting devices during this forecast period. Also the growing adoption of casting devices with changing consumer behavior is expected to accelerate the market growth. These devices are connected, unmanaged devices whose main purpose is to receive on-demand content through the internet, and display it on a screen.
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Primary entertainment streaming services play an important role in this industry. Some of the examples of these services such as Netflix, Hulu & ecosystems like Apple iTunes, Amazon Prime, and Google Play Store. The market is anticipated to grow as customers are provided with an increasing number of options for watching the content on laptops, smartphones, and tablets and with the emergence of several technologies like 4K resolution, along with broadband access. The market for streaming services is expanding at a faster rate & the casting devices market is quickly following suit. Smart TVs combine the features of a standard TV with features of a computer, and enabling users to access the internet and download apps which expected to create opportunities for the market growth in near future.
The increase in availability of native smart TV apps may hamper the global casting devices market growth over the forecast timeframe.
Market Segmentation
The Global Casting Devices Market is segmented into type such as Game Consoles, Media Streamers, and Smart TVs. Further, market is segmented into end user such as Residential, and Commercial.
Also, the Global Casting Devices Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Regional Analysis
The North America dominated the casting devices market during the forecast period due to the presence of the tech-savvy population in the region. The North America has a high concentration of large multinational companies, which largely contribute to the casting devices market growth. The dominance of this region in the market studied is attributed mainly to the popularity of VoD subscriptions in the region along with the lucrative deals provided by the service providers to attract customers and the growing demand for the content produced.
Market Key Players
Various key players are listed in this report such as Google Inc., Roku Inc., Apple Inc., Mirascreen, Microsoft Corporation, Hisense Co. Ltd, EZCast, Nvidia Corporation, LG Electronics Inc., Samsung Electronics Co., Ltd., etc.
Market Taxonomy
By Type
- Game Consoles
- Media Streamers
- Smart TVs
By End User
- Residential
- Commercial
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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