The research firm said that worldwide sales of these streaming media devices will reach 330 million annually by 2017, roughly double their predicted sales figures for 2013.
Last year in the US market alone, Parks said that the number of broadband households with a streaming video device had doubled since 2011, reaching 14% penetration.
Roku was found to be the most popular streaming TV device. Some 37% of surveyed US broadband households that had a streaming device said they primarily use Roku, compared to 24% that said they opted for Apple TV.
“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. 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,” said Barbara Kraus, director of research, Parks Associates.
Roku founder and CEO Anthony Wood said: “Roku customers are passionate about streaming, and we are delighted that independent research shows that we are the most popular streaming platform measured by usage on a US household basis.”