According to the latest report by IMARC Group, titled “Set-Top Box Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the global set-top box market size reached US$ 21.66 Billion in 2019. A set-top box (STB) is a consumer electronics device that acts as a building block of the digital broadcasting system. It comprises receiving digital signals, compressing and encoding, modulation, and network management and transmission technologies. It is manufactured by assembling components, such as tuners, system buses, decoders, graphic processors, storage devices, modulators and demodulators, and demultiplexers and decryptors. It offers a seamless TV viewing experience and enables users to record different television programs and perform other functions, such as home networking, video conferencing, video-on-demand and internet protocol (IP) telephony.
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 market is currently experiencing steady growth, which can be accredited to the stringent regulations imposed by governments of numerous countries for digitalizing television networks. Besides this, reducing average selling prices (ASPs) of television sets is further fueling the growth of the STB market. Moreover, on account of the inflating income levels and improving standards of living, TV sets are no longer a luxury product that can be afforded only by a few individuals. Consequently, there is a rise in the sales of TV sets, which in turn is escalating the demand for STBs around the world. Furthermore, the increasing adoption rates of smart TVs and Internet-based STBs, along with the steadily growing demand for high-quality video streaming and interactive videos, are bolstering the market growth. Other factors that are anticipated to propel the market growth in the coming years include the rising trend of over the top (OTT) STB and advancements in digital broadcast technologies. Looking forward, the market value is projected to reach US$ 24.14 Billion by 2025, expanding at a CAGR of 1.8% during the forecast period (2020-2025).
- Based on the type, satellite STBs exhibit a clear dominance in the market. Other significant segments include cable, digital terrestrial television (DTT), internet protocol (IP) and over-the-top (OTT) STBs.
- On the basis of the resolution, the market has been segregated into the high, standard and ultra-high definition. At present, high definition (HD) holds the largest market share.
- The market has been analyzed on the basis of the end user into the residential, commercial and other sectors. The residential sector accounts for the majority of the total market share.
- Based on the service type, PayTV holds the biggest market share, followed by the free-to-air segment.
- On the basis of the distribution channel, online stores exhibit a clear dominance in the market, followed by offline stores.
- Region-wise, Asia Pacific enjoys the leading position in the market. Other major regions include Europe, North America, Latin America, 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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