Global Set-Top Box Market to Exhibit a CAGR of 1.75% During 2022-2027, Impelled by Growing Digitization of Television Networks

April 08, 2021

IMARC Group’s latest report, titled “Set-Top Box Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” finds that the global set-top box market reached a value of US$ 22.6 Billion in 2021. A set-top box is a hardware device that is used to convert video content to analog or digital TV signals. These TV and internet data signals are received via cable and telephone connection that is decoded and then displayed on the TV screen. A set-top box consists of turners, system buses, decoders, graphic processors, storage devices, demultiplexers, and decryptors. It provides multiple channels, at the request of the viewers, along with access to pay-per-view and premium channels. It also enables users to record the programs in real-time and watch them later, as per their convenience.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global Set-Top Box Market Trends:

The global set-top box market is primarily driven by the rising digitization of television networks and growing preference for high-definition TV with satellite set-top boxes. With the improving living standards and inflating incomes of consumers, there is a rise in the sales of smart TVs and Internet-based STBs. Furthermore, the steadily growing demand for high-quality video streaming and interactive videos is bolstering the market growth. Besides this, various companies are maximizing the storage options and digital video recording capability of the set-top boxes for improving the overall viewer experience. Additionally, governments across the world are mandating the installation of set-top boxes, analog switch-off transition, and the deployment of open OS-based devices. For instance, the Government of India has amended the Cable Television Network (Regulation) Act, which has made set-top box installation compulsory in the country. Furthermore, the rising adoption of hybrid set-top boxes on account of the emergence of various OTT platforms is also propelling the market growth. On account of these factors, the market is expected to grow at a CAGR of 1.75% during the forecast period (2022-2027).

Market Summary:

  • Based on the type, the market has been categorized into satellite, cable, digital terrestrial television (DTT), internet protocol (IP), and over-the-top (OTT) STBs. Among these, satellite STBs dominate the market.
  • On the basis of the resolution, the market has been classified into the high, standard, and ultra-high definition. At present, high definition (HD) holds the largest market share.
  • The market has been divided based on the end-user into residential, commercial, and others. The residential sector accounts for the majority of the total market share.
  • On the basis of the service type, payTV exhibits a clear dominance in the market, followed by the free-to-air segment.
  • Based on the distribution, offline distribution exhibits a clear dominance in the market, followed by online distribution.
  • Region-wise, Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others) holds the leading position in the market. Other regions include Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), North America (the United States and Canada), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
  • The competitive landscape of the market has been examined, with some of the key players being ARRIS International Limited, HUMAX Electronics Co., Ltd., DISH Network Corporation, Roku, Inc., Huawei Technologies Co., Ltd., Technicolor SA, Apple Inc., Google LLC, Samsung Electronics Co., Ltd., EchoStar Corporation and Shenzhen Skyworth Digital Technology Co. Ltd.

 

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Global Set-Top Box Market to Exhibit a CAGR of 1.75% During 2022-2027, Impelled by Growing Digitization of Television Networks
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