The smart TV sticks market growth is also impacted from the trade tensions between China and the United States, as the latter continues to impose high duty tariffs on imported electronic products. Such stringent government regulations between the two economically stable giants are likely to cause gap in supply and demand, consequently challenging the growth of smart TV sticks market.
Manufacturers of smart TV sticks are largely focusing on promoting and selling their products using third party online channels. With growing popularity of e-commerce, the trend of online selling has reached its peak as customers opt for online purchasing given its convenience and cost effectiveness aspects. That said, sales of smart TV sticks through third party online channels are expected to rove at a bullish pace during the period of forecast and are likely to cross US$ 1200 Mn by end of 2028. According to the report, this channel is likely to offer significant sales potential in the coming years, that manufacturers can leverage to tap customers even in remote places.
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Key Segment:Smart TV Sticks Market
The 4k and above segment is anticipated to register higher growth as compared to its non-4k counterpart.
Segmentation by Video Support
- 4k and above
The sales channel segmentation includes the sales and revenue of smart TV sticks generated through the various modes of distribution.The sales channels have been analyzed prudently to cover all formats of distribution so that none of the revenue sources is missed out. Third party online channels are offering the highest sales to the smart TV sticks market.
The sales channel segmentation includes the sales and revenue of smart TV sticks generated through the various modes of distribution. The sales channels have been analyzed prudently to cover all formats of distribution so that none of the revenue sources is missed out. Third party online channels are offering the highest sales to the smart TV sticks market.
Segmentation by Sales Channel
- Third Party Online Channels
- Direct to Customer Online Channels
- Franchised Electronics Outlets
- Independent Electronics Outlets
- Modern Trade Channels
The smart TV sticks study offers segmentation for six geographies and encompassing 23 countries across the globe. The selection of countries have been done in terms of total sales generated from each country.
The segment-wise analysis have been given in each of the six regions. North America has been the key market for smart TV sticks accounting for over 40% share; however, its share is expected to decline, as its lost share will be gained by APEJ, and Europe in the coming years.
Segmentation by Region
- North America
- Latin America
- Rest of Latin America
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific excluding Japan (APEJ)
- Greater China
- South Korea
- ASEAN countries
- Australia & New Zealand
- ASEAN countries
- Rest of APEJ
- Middle East & Africa (MEA)
- GCC Countries
- South Africa
- Rest of MEA
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APEJ to gain 8% share in the smart TV sticks market between 2018 and 2028, equating to around 27% by 2028
Asia-Pacific excluding Japan has been witnessing significant growth in the smart TV sticks market. APEJ is projected to grow its smart TV sticks market share by nearly 8% during 2018 and 2028.
With this it become the second largest smart TV market, surpassing Europe. The espousal of western entertainment habits by the people in APEJ has led to the surge in demand for smart TV sticks.
The modernization of network infrastructure and broadband has elevated the demand for live streaming, thereby boosting the growth of smart TV sticks market globally.
North America has been the dominant smart TV sticks market, commanding over 40% of the global demand.
The U.S. accounts for over 40% share in the global smart TV sticks market. It is the largest consumer of OTT content, where its reach extends to nearly 54% of the households.
An average U.S. home has a viewership of nearly 49 hours across the month. This figure itself states the demand of smart TV sticks in the country.
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