New research reveals the growing popularity of small STBs, such as Roku or Apple TV, among U.S. broadband households for streaming television content.
According to a new Parks Associates report, "Connected TV: Trends and Innovation," the number of such households with a streaming video media device has doubled since 2011, reaching 14 percent in 2013.
The Parks Associates research found Roku is the most-used streaming video media device in the U.S. market. An independent survey conducted in the first quarter of 2013 of 10,000 U.S. broadband households revealed that among households with a streaming video media device, 37 percent primarily used a Roku compared to 24 percent that primarily used an Apple TV.
The research firm also predicts the number of connected TV devices sold worldwide will reach 330 million annually by 2017, almost double the number forecast to be sold this year. Average product prices will decline over the period, but annual sales revenues will increase nearly 100 percent by 2017 as more households buy smart TVs, gaming consoles, Blu-ray players and streaming video media devices.
“Innovations such as next-gen game consoles and 4K or Ultra HD TVs will boost unit sales for these devices, but overall, consumers are reluctant to replace these big-ticket items solely for smart upgrades," said Barbara Kraus, director, research, Parks Associates.
"As a result, streaming video media devices will have a thriving market because they can offer innovations, such as streaming video at low prices. Devices such as Roku's streaming players and Google’s Chromecast will benefit from these market conditions.”