Contribution of type segments performance in the growth of the smart TV sticks market size

The global smart TV sticks market size is expected to grow at a CAGR of 7.74% during the forecast period. Based on the type, the global smart TV sticks market has been segmented into non-4K and 4K and above.

Non-4K smart TV sticks are most commonly used. Most of the non-4K TV sticks can offer high dynamic range (HDR) content. The cost of non-4K TV sticks are lower compared with the 4K TV sticks. As a result, the demand for the former is higher. Furthermore, non-4K smart TV sticks has a reach to wide range of content that may not be available with 4K TV sticks. The content discovery engine (CDE) powers a smart TV stick. The CDE helps users to search online digital content on any subject with the help of the internet. The content is then displayed on the TV.

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Various countries such as UK are also opting for low-priced smart TV sticks. Therefore, it is encouraging vendors to launch new products that costs less, helping them gain market share. The smart TV sticks are enabled with the remote featuring Voice Search technology. Therefore, the adoption rate of non-4K smart TV stick among consumers will increase. This, in turn, would bolster the growth of the global smart TV sticks market size during the forecast period.