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Casting Devices Market Size (2024 - 2029)

The casting devices market is projected to expand significantly, driven by the increasing consumption of video-on-demand services and a shift in consumer behavior towards more convenient and cost-effective entertainment access. Despite the potential hindrance posed by the growing availability of native smart TV apps, the market is expected to benefit from the proliferation of streaming services and advancements in technology, such as 4K resolution and improved broadband access. These factors collectively contribute to the anticipated growth in the market size of casting devices over the forecast period.

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Market Size of Casting Devices Industry

casting devices market
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 16.40 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration High

Major Players

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*Disclaimer: Major Players sorted in no particular order

Casting Devices Market Analysis

The Casting Devices Market is anticipated to witness a CAGR of 16.4% over the forecast period (2021-2026). The growing consumption of video-on-demand (VoD) services, increasing demand for convenient and cost-effective methods to access entertainment content with a lean-back experience, changing consumer behavior are some of the significant factors influencing the growth of casting devices market while increasing availability of native smart TV apps is expected to hinder the growth of the market.

  • Casting devices are connected, unmanaged devices whose principal purpose is to receive on-demand content via the internet, and display it on a screen.
  • Primary entertainment streaming services play a vital role in this industry. Some of the examples of these services include Netflix, Hulu, and ecosystems like Amazon Prime, Apple iTunes, and Google Play Store. The market is expected to grow as customers are provided with an increasing number of options for watching the content on smartphones, laptops, and tablets and with the emergence of several technologies, such as 4K resolution, coupled with broadband access.
  • A study conducted by Rapid TV News estimated that the global household subscriptions of VoD would grow from 250 million in 2018 to 450 million in 2022 and the number of individuals would grow from 1311.0 million in 2018 to 1463.3 million in 2022.

Casting Devices Industry Segmentation

This report on Casting Devices categorizes the market based on various types of casting devices, end-user, and geography. By type, the market studied is segmented into gaming consoles, media streamers, and smart TVs. By end-user, the market studied is segmented into commercial and residential users. The scope of the report covers detailed information pertaining to major factors influencing the casting devices market, such as drivers and restraints. The study of the market also focuses on various trends in the market, such as the rise in the demand for VoD services and its effects on the market.

By Type
Game Consoles
Media Streamers
Smart TVs
By End-User
Commercial
Residential
Geography
North America
Europe
Asia Pacific
Rest of the World
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Casting Devices Market Size Summary

The casting devices market is experiencing significant growth, driven by the increasing consumption of video-on-demand services and the demand for convenient, cost-effective entertainment access. These devices, which connect to the internet to stream content on screens, are becoming more popular as consumers seek more options for viewing content on various devices like smartphones, laptops, and tablets. The market is also benefiting from advancements in technology, such as 4K resolution and improved broadband access. However, the growing availability of native smart TV apps poses a challenge to market expansion. Smart TVs, which combine traditional TV features with internet connectivity and app access, are gaining traction, particularly in emerging markets, further influencing the casting devices market.

North America is expected to maintain its dominance in the casting devices market due to its tech-savvy population and the presence of major multinational companies. The region's popularity of video-on-demand subscriptions and attractive service provider deals contribute to its market leadership. Meanwhile, the Asia-Pacific region presents lucrative opportunities for market growth, driven by the rise of startup companies. The market is highly competitive, with key players like Google Inc., Roku Inc., and Apple Inc. focusing on expanding their global presence through strategic collaborations. Recent developments, such as ACT Fibernet's entry into the streaming devices category and Microsoft's new app for Xbox One, highlight the ongoing innovation and expansion within the industry.

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Casting Devices Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Introduction to Market Drivers and Restraints

    3. 1.3 Market Drivers

      1. 1.3.1 Growing Consumption of Video-on-Demand (VoD) Services

      2. 1.3.2 Increasing Adoption of Casting Devices with Changing Consumer Behavior

    4. 1.4 Market Restraints

      1. 1.4.1 Increasing Availability of Native Smart TV Apps

    5. 1.5 Industry Value Chain Analysis

    6. 1.6 Industry Attractiveness - Porter's Five Force Analysis

      1. 1.6.1 Threat of New Entrants

      2. 1.6.2 Bargaining Power of Buyers/Consumers

      3. 1.6.3 Bargaining Power of Suppliers

      4. 1.6.4 Threat of Substitute Products

      5. 1.6.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Type

      1. 2.1.1 Game Consoles

      2. 2.1.2 Media Streamers

      3. 2.1.3 Smart TVs

    2. 2.2 By End-User

      1. 2.2.1 Commercial

      2. 2.2.2 Residential

    3. 2.3 Geography

      1. 2.3.1 North America

      2. 2.3.2 Europe

      3. 2.3.3 Asia Pacific

      4. 2.3.4 Rest of the World

Casting Devices Market Size FAQs

The Casting Devices Market is projected to register a CAGR of 16.40% during the forecast period (2024-2029)

Google Inc., Roku Inc., Apple Inc., Anycast and Mirascreen are the major companies operating in the Casting Devices Market.

Casting Devices Market Report Snapshots

Casting Devices Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)