Providing Market Intelligence for 40 Years

In The News

Evolution of the streaming video device market

The streaming video device market continues to evolve – amid growing consolidation around a handful of devices and platforms. Amid a slowing economy and the threat of inflation, consumer spending slowed over 2022. Despite this, consumers remained invested in streaming video consumption, with a record-high 23% of internet households subscribed to 9 or more services in Q1 2022 according the Parks Associates. The streaming device market is maturing rapidly as a result.
Both consumers and industry stakeholders are focusing on the smart TV as the entertainment centerpiece of the home. Though other platforms, such as game consoles, are still used to consume video, consumers are moving to the smart TV as their device of choice and secondarily towards streaming players. Similarly, advertisers, measurement companies, and other industry players now consider the smart TV as the key video consumption device in the home.
Competitive evolution today is as much about software and UX as hardware. Consumers are overwhelmed by streaming video choices and looking for devices to simplify their experience.

 

Consumers frequently face a confusing overload of service and content choices, and the industry is competing to deliver evolved user experiences that address this via content-first interfaces, personalized super-aggregation, and more.
The smart TV and streaming media player markets are heavily stratified. Ecosystem giants and platform owners dominate today's streaming device market. Samsung, Roku, Amazon, LG, Vizio, and

Google are the main players controlling the point of consumption and are expected to only become more powerful within the streaming industry over time.
As the market progresses in 2023 and beyond in particularly challenging economic conditions, a higher level of competition between major ecosystem and platform vendors is expected to benefit consumers. However, the streaming video device market has become increasingly unattractive for new entrants. Smart TV adoption is rising while streaming media players have plateaued; both remain important.


Game console adoption continues to trend downward, in contrast. Most TV models are now smart TVs, so the natural replacement cycle continues to drive incremental adoption. Smart TVs are the dominant video consumption device. Samsung has the most vital position in the smart TV market by a wide margin. Amazon now leads the market for streaming media players, with Roku closely behind it.
 

Previously In The News

Netflix Earnings Preview: Is Streaming Video Giant Still Snagging New Subscribers?

On top of that, the industry churn rate—a metric used to reflect cancelled subscriptions to streaming services overall—shot up 41% in Q1, the most recent statistic available, as consumers experimented...

A Challenge For Video Streamers Will Be Keeping Subscribers

A Parks Associates analysis reported that SVOD churn rate dropped from 46% in third quarter 2019 to 38% in third quarter 2020. Among recent launches, the churn rate of Disney+ was at 13%, and HBO Max,...

YouTube Enters "Free TV" Streaming Wars, Adds Access To Nearly 4,000 Free Classic TV Episodes

Consumer adoption of connected TVs continues to skyrocket. Insights from Parks Associates suggest that more than 56% of American households own a “Smart TV.” This is while cable and satellite provider...

FuboTV: Why I Like This Stock Better Than DraftKings

Even more pertinent, according to a survey compiled by Parks Associates, 55% of cable subscribers state that live sports is an important factor in why they are staying with expensive cable packages. T...

Phone:
972-490-1113
Mailing Address:
2301 West Plano Parkway, Suite 210, Plano, TX 75075
Expertise
Smart Home: Management and Safety Consumer Electronics Connected Health and Wellness Connectivity and Mobility Small-to-medium Business (SMB) MDU
Services
Research Memberships Visibility Memberships Streaming Video Tracker Smart Home and Security Tracker Broadband Market Tracker Channel Analytics
Events
CONNECTIONS™ CONNECTIONS™ Summit/CES Smart Energy Summit Connected Health Summit Future Of Video Smart Spaces
Resources
Press Releases Analyst Blog Parks in the News
Store
View Your Cart
About Us
Overview Team Contact Us Privacy Policy

Follow:

© 2023-2026 Parks Associates. All Rights Reserved. Privacy Policy

Design & Developed By Agency Partner Interactive