Attributed to deep penetration and easy access to the internet, there is a huge demand for streaming video on TV. There is a wide range of Android TV box available from surfing the web to streaming it on TV. The presence and preference of various applications, such as Netflix, Hulu, Amazon Prime, Discovery, Disney+, and many more, have widened the scope of such type of web viewing. Their growing applications in commercial and residential sectors have pushed the product demand globally. In recent years, there has been introduction of modern and new technological innovations and their integration for enhancing the picture quality.
Increase in disposable income has led to increase in demand amongst middle-class population. This has also pushed companies to bring out quality rich content and entertainment services. Rise in OTT services has led to rapid adoption of pay-based subscriptions such as Netflix, Hulu, Amazon Prime, Discovery, Disney+, and many more.
According to Business Research Insights, the global Android TV box market size was valued at USD 4.13 billion in 2020 and is projected to reach a valuation of USD 19.51 billion by 2027 at a CAGR of 24.8% during the forecast period. The market has leading players such as Amazon, HUAWEI, ZTE, Skyworth, NVIDIA, Xiaomi, SkyStreamX, Zidoo, Dolamee, Matricom, and MINIX.
The market players have been launching new products for enhancing their brand’s image. For instance, in March 2022, Bouygues Telecom, a French company, launched a new TV decoder called Bbox 4K HDR. The new product launched is anticipated to be connected to advanced Wi-Fi. It is also expected to display on a small LCD screen and have the ability to record around 100 hours of programming. Such new product launches integrate new technologies, which can expand the customer reach and attract more tech-savvy customers.
Business Research Insights States the Top 5 Android TV Box Companies-
1. Amazon (U.S.)
Amazon is one of the largest U.S.-based multinational technology companies globally. The puts its focus on cloud computing, entertainment, e-commerce, digital streaming, and artificial intelligence. Amazon is known for its variety of streaming content through Amazon Music, Amazon Prime, Audible, and Twitch. It publishes its film and television content through Amazon Studios. In addition, it also offers services such as Alexa, App Store, Luna, and Pay.
2. HUAWEI Technologies Co. Ltd. (China)
HUAWEI Technologies Co. Ltd. is Chinese multinational technology located in Shenzhen, Guangdong, China. It designs, produces, develops, and sells telecommunications equipment, smart devices, and consumer electronics. The company was founded in 1987 and initially focused on manufacturing of phone switches. The company operates in various industries such as telecom equipment, consumer electronics, semiconductors, automation, the Internet of Things, artificial intelligence, networking equipment, and other industries.
3. SkyStreamX Technologies (U.S.)
SkyStreamX Technologies is a U.S-based company providing home theater experience. The SkyStream Streaming Media allows users to watch their favorite movies, TVs, sporting events, and other events. It has streaming applications such as Netflix, Hulu, Amazon Video, SlingTV, YouTube, and more. It offers SkyStream Streaming Media Players which are "plug & play" ready!
4. Xiaomi Corporation (China)
Xiaomi Corporation, normally traded as Xiaomi, is China’s manufacturer and designer of home appliances, consumer electronics, and household items. After Samsung, it is the second largest manufacturer of smartphones in the world. The company also manufactures appliances such as flashlights, televisions, air purifiers, and others. Xiaomi’s Mi Box S is an easy to use Android TV box.
5. NVIDIA Corporation (U.S.)
NVIDIA Corporation, commonly called NVIDIA, is an American technology company that is based in Santa Clara, California. The company designs graphics processing units and application programming interface. The product portfolio of the company includes graphics processing units, drivers, chipsets, TV accessories, tablet computers, and more. The company has expanded its presence in the gaming industry with its Shield Android TV, Shield Tablet, and Shield Portable.
Integration of Artificial Intelligence by Manufacturers to Pose an Opportunity
The latest trend in global market of Android TV box is the introduction of modern technologies such as integration of artificial intelligence. Artificial intelligence has helped in enhancing the picture quality of the streaming content. Companies have been combining audio technology and artificial intelligence to have better results. They have been integrating voice functions and technologies to have easy navigation. Therefore, Android TV box is becoming popular with OTT applications, music, and gaming.