Google Chromecast (Shutterstock image)September 18, 2024
Global streaming media device (SMD) unit shipments will fall from 64.4 million units in 2023 to 52.3 million units in 2028 as sales slow in mature markets and are partially offset by rising opportunity in Asia-Pacific and Latin America, according to S&P Global Market Intelligence.
However, SMDs may also find niche opportunities worldwide as new use cases emerge, such as cloud gaming or smart home control points. The key caveat to consider is that any functionality an SMD may offer can also be incorporated into smart TVs, partially offsetting the uplift, the analysis noted.
The forecast anticipates that the U.S. installed base will contract as smart TVs grow to more than three quarters of the digital TV installed base.
Reflecting this sea change, some of the SMD sector’s biggest vendors, such as Roku and Amazon, are putting more emphasis on smart TV operations, according to the analysis.
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“Alphabet discontinuing the Chromecast is part of a larger story in which streaming media devices have reached the end of their growth phase,” Neil Barbour, research analyst at S&P Global Market Intelligence, said in a statement. “There is opportunity in APAC, where smart TVs have not yet penetrated as deeply as they have in North America or Western Europe, but there unlikely to be enough uptake to push the overall market back into positive territory.”
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