Global 4K Set-Top Box Market to Reach US$ 9.8 Billion by 2032, Fueled by Growing Adoption of OTT Services

May 25, 2023 | Technology & Media

According to the latest report by IMARC Group, titled “­­4K Set-Top Box Market Report by Product (Satellite, Internet Protocol Television (IPTV), Cable, Digital Terrestrial Television (DTT), Over The Top (OTT), Hybrid), Application (Residential, Commercial), and Region 2024-2032,” the global 4K set-top box market size reached US$ 5.9 Billion in 2023. A 4K set-top box is a device that connects to a television or monitor and enables the viewing of high-definition content in 4K resolution. 4K refers to the display resolution of approximately 3840 x 2160 pixels, offering better pixel density than traditional high-definition (HD) displays. The 4K capability of the set-top box ensures that the content is displayed in vivid detail, with sharper images, vibrant colors, and enhanced visual clarity. In addition to this, 4K set-top boxes often include additional features such as internet connectivity, built-in apps for popular streaming services, HDMI and USB ports for connecting to TVs or displays, external storage, and speakers. These features provide users with an enhanced entertainment experience, allowing them to access a wide range of content and enjoy it in high-quality 4K resolution.

Global 4K Set-Top Box Market Trends:

The increasing consumer preference for high-quality audio and video content and the rising number of individuals investing in over-the-top (OTT) services are primarily driving the market growth. The market is further supported by rapid urbanization, inflating disposable incomes, improving living standards, and the widespread availability of high-speed internet connectivity. Besides this, significant improvements in broadband infrastructure in urban areas, as well as the expansion of fifth-generation (5G) technology, are positively impacting the market growth. Moreover, ongoing product innovations, such as the integration of advanced technologies, including Dolby Atmos, voice control, machine learning (ML), and artificial intelligence (AI), that enable personalized content recommendations based on user viewing history and provide a hassle-free and customized streaming experience is propelling the market forward. In addition to this, the expanding product installation across commercial spaces, such as hotels, restaurants, and cafes, to offer live streaming of matches and other events is presenting remunerative growth opportunities for the market. Furthermore, the rising consumer awareness about the benefits of streaming content in 4K, such as improved picture quality and enhanced viewing experience, and extensive investments in aggressive advertising strategies and marketing campaigns to increase product sales and awareness are aiding in market expansion. Looking forward, the market value is projected to reach US$ 9.8 Billion by 2032, expanding at a CAGR of 5.59% during 2024-2032.

Market Summary:

  • On the basis of the product, the market has been divided into satellite, internet protocol television (IPTV), cable, digital terrestrial television (DTT), over-the-top (OTT), and hybrid. Currently, satellite dominates the market, holding the largest share.
  • Based on the application, the market is bifurcated into residential and commercial. Between these, residential represents the largest market segment.
  • On a regional basis, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa. Presently, North America enjoys the leading position in the market.
  • The competitive landscape of the market has also been examined, with some of the key players being Bharti Airtel Limited, DISH Network Corporation, HUMAX Co. Ltd., Infomir Group, Roku Inc., Sagemcom Broadband SAS, Tata Play Limited, ZTE Corporation, etc.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Products Covered Satellite, Internet Protocol Television (IPTV), Cable, Digital Terrestrial Television (DTT), Over The Top (OTT), Hybrid
Applications Covered Residential, Commercial
Regions Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Bharti Airtel Limited, DISH Network Corporation, HUMAX Co. Ltd., Infomir Group, Roku Inc., Sagemcom Broadband SAS, Tata Play Limited, ZTE Corporation, etc.
Customization Scope 10% Free Customization
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Global 4K Set-Top Box Market to Reach US$ 9.8 Billion by 2032, Fueled by Growing Adoption of OTT Services
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