Market Size of Casting Devices Industry
| 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
*Disclaimer: Major Players sorted in no particular order |
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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.
