Apple Inc. (AAPL) TV, Google Inc (GOOG) Chromecast: What is the Future?

Everybody is waiting to see what Apple Inc. (NASDAQ:AAPL) and Google Inc (NASDAQ:GOOG) can bring to the television market in the years to come.

Apple Inc. (AAPL) TV, Google Inc (GOOG) Chromecast: What is the Future?Right now, you have Apple TV and Google Chromecast. While both bring some unique features to consumers, it is hard to say how these services will perform in the years to come.

What people really want from Apple and CEO Tim Cook is an actual television set. There may be reason to believe this is coming soon, but Cupertino is keeping its lips sealed for the time being. No big surprise there.

The Performance of Apple Inc. (NASDAQ:AAPL) TV

According to recent report by Parks Associates, “annual sales of streaming connected TV devices will more than double by 2017.”

When you take that at face value, it is hard to imagine a situation in which Apple and Google Inc (NASDAQ:GOOG) are not going to be in position to take full advantage.

The real question is this: which company will devote enough time and resources to taking the lead in this market?

The study added that the number of United States broadband households with a streaming video media device, which includes Apple TV, has doubled since 2011. Right now, the number stands at 14 percent.

Does this mean Apple is way out in front? Quite the contrary. Cupertino may be ahead of Larry Page and company, but it is trailing Roku right now.

Park Associates, after conducting an independent survey, shows that 37 percent of people are using Roku compared to 24 percent using an Apple Inc. (NASDAQ:AAPL) TV.

Barbara Kraus of Parks Associates brought Google Inc (NASDAQ:GOOG) into the fold, saying that “devices such as Roku’s streaming payers and Google’s Chromecast will benefit from these market conditions.”

The television market is ripe for the picking. With so many rumors regarding both Apple Inc. (NASDAQ:AAPL) and Google Inc (NASDAQ:GOOG), nobody really knows what to believe right now.

Is Cupertino going to announce a 55 inch television set at the end of 2013? It is possible, but there is no reason to believe this to be factual right now. Will Google come up with something bigger and better? Once again, nobody really knows.

What we do know is that this market is growing, and these companies are not going to sit back and miss the boat.

Do you feel as strongly about Apple’s future as hedge fund managers Stuart Peterson, Jeffrey Edwards, and Mark Diker?

Watch the video below for more information on Apple TV:

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Disclosure: none

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