The global digital media adapters demand is anticipated to be valued at US$ 3.2 Billion in 2022, forecast to grow at a CAGR of 6% to be valued at US$ 7.1 Billion from 2022 to 2032. The rising usage of broadband in both developed and emerging economies worldwide is expected to propel the demand for digital media adapters.
A digital media adapter, commonly known as DMA, is an innovative electronic device that is utilized for connecting the computer to a home media system. It is capable of transferring audio content and digital files at a fast pace.
It consists of a collection of applications, a processor, and an advanced operating system to gain access to various streaming services, High-Definition Multimedia Interface (HDMI) port, and in-built Wi-Fi receiver for connecting to a television set. It helps users to locate multiple online media files and move them to visual or audio equipment.
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It provides high streaming quality and there are no problems with clear audio transmissions, as well as no sudden frame freezes on video streams. Some of the recently introduced adapters feature in-built software solutions that enable users to record the media in real time and save it for viewing later.
The increasing usage of digital media adapters for viewing video content is expected to contribute to the market revenue growth. The surging penetration of the internet among millennials is another significant factor that is set to push the sales of digital media adapters in the near future.
Which are Some Prominent Drivers Spearheading Digital Media Adapters Market Growth?
Changing lifestyles and high disposable income of people are propelling the adoption of cutting-edge home theater systems across the globe. This is likely to boost the popularity of Video on Demand (VoD) or web series.
The easy availability of high-speed internet connections and the growing usage of smartphones are anticipated to drive the demand for VoD. It is expected to result in the inclination of people towards online video content, which would affect the market positively.
Many manufacturers are expected to create a pre-defined list of channels that would be embedded in the media adapters. It is set to help users in choosing from the list of available content and viewing it either by purchasing a subscription plan or for free.
The increasing trend of home automation is another key factor that is likely to bode well for the market. The need to connect various electronic gadgets and devices to the DMA and home network in smart homes is projected to surge the digital media adapters market share.
What are the Challenges Faced by the Digital Media Adapters Industry?
Digital media adapters are difficult to operate, especially when used by the aging population. These are also expensive, as compared to the conventional systems. The lack of technologically advanced infrastructure and expertise in emerging economies may hamper the growth in this market. Various integration issues associated with an organization’s internal processes can also hinder the growth.
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Why is North America Emerging as an Opportunistic Digital Media Adapters Market?
North America is expected to dominate in terms of the digital media adapters market share in future. The high demand for video streaming solutions, early adoption of advanced technology, and the presence of an established network infrastructure are anticipated to augur well for the market.
The increasing usage of smart home entertainment solutions and the entry of various renowned manufacturers in the U.S. is another factor that is likely to spur the market in North America. The emergence of novel adapters with inbuilt Wi-Fi for wireless connection from television screens, tablets, smartphones, and computers would also drive the market.
How is Asia Pacific Contributing to Growth of the Digital Media Adapters Market?
The high demand for smart TVs is anticipated to accelerate the sales of digital media adapters in Asia Pacific. The presence of prominent OTT platforms, such as Netflix, Disney+Hotstar, Sony Liv, and Amazon Prime in several Asia Pacific countries, such as India, China, Singapore, and Malaysia is expected to propel the growth.
The surging demand for video streaming and the increasing expenditure on smart home solutions are set to accelerate the market. The urgent need to remove clutter around the TV set is likely to propel the demand for digital media adapters in Asia Pacific as these are consistently developed in compact sizes.
Some of the key participants present in the global digital media adapters market include Roku, Inc., Microsoft, SAMSUNG, Soundstream, Apple Inc., Amazon, HUBER+SUHNER, Zyxel, Google, Power Acoustik, Seagate Technology LLC, Cisco Systems, Inc., Sony Corporation, ARCHOS, Dolby Laboratories, Inc., NETGEAR, Dell Inc., Alpine Electronics of America, Inc., and Pioneer Electronics (USA) Inc. among others.
Key market participants are engaging in acquisitions and mergers to broaden their presence in the highly competitive market and generate more sales worldwide. Some of the other key players are focusing on enrolling customers in their free platforms by using advertisements and then pitching them with unique offers and buysto convince them to purchase subscription plans.
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Key Segments Profiled in the Digital Media Adapters Industry Survey
- Roku Streaming Stick
- Apple TV
- Google’s Chromecast
- Amazon Fire TV Stick
- Wireless Digital Media Adapters
- Wired Digital Media Adapters
- Commercial Use
- Residential Use
- Media Player
- North America
- Latin America
- Western Europe
- Eastern Europe
- Middle East and Africa
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