[306 Pages Report] The global set-top box market is expected to reach a market valuation of US$ 33.4 Billion by the year 2022, accelerating with a moderate CAGR of 5.6% by 2022 to 2032. Set-top box market size is anticipated to be valued at about US$ 57.7 Billion by 2032 end. Show
Demand for set-top boxes is being driven by the proliferation of technological advancements in their design, features, and accessories. The main performance metrics for market participants are not just innovation, but also the implementation of successful marketing strategies and the development of strong partnerships with suppliers and vendors. To maximize the sales of set-top boxes in the market, manufacturers are consistently working to strike a balance between price and quality. Increasingly, businesses are opting for mergers and acquisitions to leverage their partners' strengths in areas such as technological innovation, distribution networks, and marketing reach. Demand for set-top boxes (STBs) is predicted to increase as a result of rising incomes around the world and rising demand for high-quality, cutting-edge household appliances. Growth in the number of televisions used in businesses is also expected to drive up demand for set-top boxes. The current COVID-19 outbreak, for example, has forced many individuals to stay indoors for extended periods of time due to the risk of contracting the virus. This has led to a rise in the popularity of on-demand online streaming media, which in turn is expected to fuel demand for STB products. In addition, there is a need for innovative digital technology goods due to the growing trend of consumers preferring highly functionalized digital set-top boxes over analog STBs. Moreover, developments in traditional electronics retailers and the growth of the e-commerce sector have facilitated the availability of products for electronic appliances. However, government limitations concerning the restricted use of the frequency spectrum for the smart set-top boxes are anticipated to impede the set-top box industry expansion. Attributes Value Set-top Box Market Size (2022) US$ 33.4 Billion Set-top box Market Projected Size (2032) US$ 57.7 Billion Set-top box Market Value CAGR (2022 to 2032) 5.6% What Are The Trends In The Global Set-Top Box Market?Changing Consumer Habits A large need for OTT-enabled set-top boxes (STBs) is expected to emerge in the next years as consumers shift their attention to IPTV and OTT platforms like Netflix, YouTube, Amazon, etc. The need for fresh ideas and higher-quality output is also expected to increase demand for set-top boxes. In addition, a growing preference for both big TVs and at-home entertainment is expected to open substantial new markets for 4K and 8K set-top boxes in the not-too-distant future. To further streamline the distribution network and lower the overall cost of STBs, the companies are relocating their manufacturing operations to their respective regions. Rising Demand for HD Quality Videos Among the younger demographic, there has been a noticeable uptick in the desire for high-definition television, which has resulted in significant smart set-top box industry participants introducing set-top boxes with HD capabilities. In addition, leading companies are working on operating systems with robust user interfaces to enhance streaming and video quality. The introduction of 4K-high resolution Android customized set-top boxes, especially in the U.S., India, and Australia, is projected to push the need for HD setup boxes. In September 2021, for instance, Technicolor announced the release of next-generation Android TV set-top boxes, allowing users to gain access to premium services from broadcasters and over-the-top (OTT) providers including Netflix, Amazon, Infinity, Disney+, and DAZN in Italy. Growing Urbanization In APAC Region To Change The Market OutlookIn 2021, the Asia-Pacific region's set-top box market was worth more than $7 billion. The expanding middle class and expanding cities in Asia and the Pacific (APAC) are producing huge growth prospects for STBs. Migration trends in countries like India, China, Japan, and Australia have led to rising demand for consumer electronics in those countries. Businesses are also spending more on Research and Development to develop new products and improve existing ones. Improving Demand For Satellite Set-Top BoxesIn terms of set-top box market share, the satellite set-top box category accounted for more than 35% in 2021. Because of its low price, portability, and superior performance compared to IPTV and hybrid STBs, satellite set-top boxes have helped boost the industry's overall worth. Additionally, a satellite set-top box provides access to a multitude of national and international channels, ensuring that viewers are always informed of the most recent events occurring around the world. Modern satellite DVRs have several useful functions, such as the ability to record live TV, video on demand, and interactive multimedia services, all of which contribute to the growth of the industry. Producers are concentrating on increasing the rate at which they turn out satellite STBs to better manage their stock. Key TakeawaysDrivers
Comparative View Of Adjacent Set-Top Box MarketSet-top box Market: Attributes Set-top box Market CAGR (2022 to 2032) 5.6% Market Value (2022) US$ 33.4 Billion Growth Factor The proliferation of commercial adoption of set-top boxes in North America. Future Opportunities Increasing internet and digitalization in the Middle East and Latin America. Market Trends The growing popularity of IPTV and over-the-top (OTT) services like Netflix, YouTube, Amazon, etc. is expected to drive a surge in the demand for OTT-enabled set-top boxes (STBs) in the coming years. Cloud TV Market: Attributes Cloud TV Market CAGR (2022 to 2032) 21.9% Market Value (2022) US$ 1.2 Billion Growth Factor Increased expectations for engaging, on-demand, and interactive media. Future Opportunities Growth in the market is predicted to be fuelled by expanding 5G usage and progress in wireless communication. Market Trends Increases in internet and smartphone use throughout Asia and the Pacific are largely responsible for this region's promising outlook. Content Delivery Network Marke: Attributes Content Delivery Network Marke CAGR (2022 to 2032) 12.5% Market Value (2022) US$ 19.2 Billion Growth Factor The need for high-quality visuals and instantaneous responses in online games is only expected to grow. Future Opportunities The rising popularity of video-on-demand and over-the-top services. Market Trends The Asia-Pacific region is predicted to have the greatest CAGR during the projection period because of the rapid pace at which it is adopting new technology. The software middleware in the STB ecosystem is being phased out due to the rise of open platforms, Android TV launchers, and over-the-top (OTT) apps. It's a great chance for STB manufacturers to improve their products by lowering production costs and incorporating the Android and RDK platforms. The Android open-source platform is less expensive than conventional STB middleware and gives subscribers access to apps from the Google Play store. Country-Wise Analysis Of The Set-Top Box MarketUnited States IPTV set-top boxes and OTT platforms are driving the country's growth. Netflix, Hulu, HBO Max, and others have been welcomed by younger and older generations. In reaction to the rise of smart TVs like Apple TV and Android TV, key players have released OTT set-top boxes. North American tech and digital broadcasting are expected to grow. As pay TV subscriptions in the US fall, industry leaders introduce IPTV without a set-top box. Because of substitutes and tough competition, key players focus on new releases with appealing offers. In 2021, CommScope partnered with Evoca to deliver Android TV-integrated set-top boxes with dual ATSC 3.0 and ATSC 1.0 tuners. China It is expected that China is expected to be the most appealing set-top box market in the Asia-Pacific region, surpassing even Japan. By 2031, FMI predicts that the Asia-Pacific and Japan (APEJ) set-top box (STB) market would have grown by $10.05 billion. The use of set-top boxes in China would increase if the country's rural and urban populations had access to more televisions. China's government requires STBs as a means of stimulating the economy. Opportunities for expansion exist in the set-top box industry because of the rising popularity of smart TVs and IPTVs in rural China. India Increased urbanization and scientific progress in India are driving the country's interest in and use of so-called "smart" technologies. Make in India boosts the Indian economy and spreads cutting-edge electronics like smart televisions and smartphones to remote corners of the country. The Indian federal government has amended the Cable Television Networks Regulation Act to require the adoption of set-top boxes. Digital signals are used by set-top boxes to improve television quality and block access to illegal channels. It's no secret that India's set-top box market has exploded in recent years. Over-the-top (OTT) platforms and smart devices, according to FMI, are likely to boost demand for STBs in the country. Particularly popular with the younger demographic, OTT set-top boxes are a hot commodity. In order to take advantage of current opportunities, major players have started offering tempting collaboration deals with OTT platforms. In 2021, Discovery+ partnered with JioFiber, a new set-top box provider owned by Reliance India. Efforts recently made in India should prove beneficial to the set-top box industry. Competitive Landscape For The Set-Top Box MarketSeveral major companies in the worldwide set-top box market are teaming up with regional and international digital TV networks to provide special deals to attract new customers. To further differentiate themselves, several of the major providers are releasing high-definition (HD) set-top boxes with cutting-edge capabilities like integrated OTT platforms. Artificial intelligence (AI) is being integrated into smart setup boxes by manufacturers so that they can offer customized services, minimize server costs, lessen the need for human intervention, and make better use of available bandwidth. In addition to boosting digital signal strength, they are implementing speech recognition technology for channel control, issuing instructions for services like the weather and music, and more. Set-top box market leaders are currently emphasizing the integration of artificial intelligence and voice interfaces within STBs while also guaranteeing a streamlined design. Recent DevelopmentsDuring the month of March 2021, Discovery+ declared its alliance with the JioFiber set-top box. JioFibers customers can now access world-class content from Discovery+ in 40+ categories, including science, adventure, gastronomy, and lifestyle animation. To facilitate the rollout of a whole-home connected entertainment environment incorporating multi-room DVR with the backing of the digital living network alliance, Broadcom has announced the release of high-definition satellite set-top box SoC solutions with integrated MoCA(R). Who manufactures set top box?List of Top 10 Companies in the Set Top Box Industry:. Roku, Inc.. Huawei Technologies Co. Ltd.. Technicolor SA.. Apple Inc.. Google LLC.. Samsung Electronics Co. Ltd.. EchoStar Corporation.. Shenzhen Skyworth Digital Technology Co. Ltd.. Which set top box is best for TV?Below we have listed a few of the best performed set top boxes with their exciting subscription plans in 2023.. Airtel Digital TV HD Set Top Box - 59% off.. DishTV DTH HD Set Top Box - 50% Off.. Tata Sky HD Set Top Box - 68% off.. d2h HD DTH Connection Set Top Box - 43% off.. Catvision Doordarshan Freedish Set Top Box - 8% off.. Which company box is best?7 best set-top boxes and their subscriptions in 2023. Who are the major players in set top box?Global set-top box (STB) key players include CommScope (Arris), Skyworth digital Technology Co.,Ltd, Technicolor (Cisco), Sagemcom, HUAWEI, etc. Global top five manufacturers hold a Market Share about 30Percent. |
