According to the Frost & Sullivan Digital Media team there is a consumer preference for OTT content due to the widespread use of smart TVs and digital devices. Although the market slowed down during 2014-15, Frost & Sullivan now believes the market will meet consumer expectations by offering seamless access to on-demand content on new competitively priced streaming devices. Smart TV manufacturers, such as Samsung, TCL, LG, Sony and Panasonic, together with companies, such as Roku, Apple and Amazon, are developing apps to stream content to consumers.
Digital Media Research Analyst, Avni Rambhia, believes that HEVC, 4K and high dynamic range will drive sales and shorten upgrade cycles with competition between smart TV manufacturers and streaming device manufacturers intensifying.
The Frost & Sullivan report, Global Smart TV and Streaming Media Devices Markets, Forecast to 2021, estimates that smart TV market will grow at a compound annual growth rate of 5.1% between 2016 and 2021. Last year the total of smart TV devices stood at 190 million. The report also forecast that the price per unit will steadily decrease over the period. Market share estimates for streaming media devices gives Google a lead with 33.1%, followed by Apple with 31.7% and Roku with 15.2%.
