Set-Top Box Market

Market Overview:

The global set-top box market size reached US$ 23.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 25.5 Billion by 2028, exhibiting a growth rate (CAGR) of 1.5% during 2023-2028. The rising awareness about sanitation and overall hygiene maintenance, increasing number of fast-food chains and quick service restaurants (QSRs) offering home delivery and takeaway options, and the growing environmental awareness among the masses represent some of the key factors driving the market.

Integration of Advanced Technologies Spurring Market Growth

The set-top box market has been experiencing moderate growth. Rapid digitization of cable networks and the advent of hybrid and smart set-top boxes (STBs) represent one of the major factors strengthening the market growth around the world. These STBs are used to access online videos and for digital video broadcasting. The media content can be streamed and played from the internet, a central repository, or any connected device.

Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. The market structure is fragmented with large number of small and medium-sized players operating in the industry. The volume of new entrants is moderate in the set-top box industry due to low entry barriers and low product differentiation.

What is Set-Top Box?

A set-top box (STB) unit, refers to an electronic device that receives, decodes, and displays signals from digital television (DTV) broadcasts on a television (TV). It comprises turners, system buses, decoders, graphic processors, storage devices, demultiplexers, and decryptors that coordinate access to files, programs, interfaces, and services. It is used in cable, satellite, and over the air (OTA) television systems. It helps in performing complex functions, including video conferencing, home networking, video on demand, and internet protocol (IP) telephony. It provides multiple channels at the request of the viewers and enables easy access to pay per view and premium channels. It also allows users to record the programs in real time and watch them later according to their convenience.

COVID-19 Impact:

The COVID-19 pandemic outbreak has caused a significant impact on the industry and imposed unprecedented challenges on numerous countries. With lockdowns and social distancing measures in place, people were spending more time at home, which increased the demand for home entertainment solutions. As a result, the set-top box industry saw a rise in sales during the early stages of the pandemic. However, the pandemic also resulted in supply chain disruptions, manufacturing shutdowns, and logistical challenges, which affected the production and distribution of STBs. As many countries implemented strict lockdown measures, which affected the workforce in the manufacturing and distribution sectors, resulting in delays and shortages in the supply of STBs. The closure of retail stores and reduced footfall in malls and shopping centers also impacted the sales of STBs as consumers shifted to online purchasing. In addition, manufacturers and retailers had to adapt to the changing consumer behavior by increasing their online presence and offering contactless delivery options. Moreover, with increased streaming services, traditional STBs faced stiff competition from smart TVs and streaming devices, which provided numerous content and features. This trend accelerated during the pandemic as people sought more convenient and cost-effective entertainment solutions.

Set-Top Box Market Trends:

The increasing preference of individuals towards seamless, high-quality video streaming, and value-added services, such as channel pack subscriptions, HD channels, and interactive videos, represents one of the major factors driving the demand for STBs around the world. Moreover, rapid urbanization, inflating income levels, improving standards of living, rising penetration of high speed internet connectivity, and the growing number of individuals spending on online video streaming platforms are some other factors influencing the market positively. In addition, the governments of numerous countries are mandating the installation of STBs. Apart from this, the integration of motion sensors, Bluetooth connectivity, the internet of things (IoT), virtual reality (VR), and artificial intelligence (AI) in STBs is creating a positive outlook for the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global set-top box market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on type, resolution, end-user, service type and distribution.

Type Insights:

• Cable STB
• Satellite STB
• Digital Terrestrial Television (DTT) STB
• Internet Protocol (IP) STB
• Over-The-Top (OTT) STB

The report has provided a detailed breakup and analysis of the set-top box market based on the type. This includes cable STB, satellite STB, digital terrestrial television (DTT) STB, internet protocol (IP) STB, over-the-top (OTT) STB. According to the report, satellite STB represented the largest segment as it enables the television to receive signals directly from the satellite and decode digital television broadcasts. Moreover, the advent of direct-to-home (DTH) satellite business is influencing the market positively. In addition, the increasing disposable income levels and the rising consumer awareness towards the advanced features of satellite STB, including the show recording facility that enables the users to record the broadcasted TV programs and watch it later is favoring the market growth.

Resolution Insights:

• HD (High Definition)
• SD (Standard Definition)
• UHD (Ultra-High Definition)
   

A detailed breakup and analysis of the set-top box market based on the resolution has also been provided in the report. This includes HD (high definition), SD (standard definition), and UHD (ultra-high definition). According to the report, HD (high definition) accounted for the largest market share as it offers high-definition picture quality with a faster processer speed. It is also equipped with advanced features, such as premium picture quality, vivid color presentation, and enhanced sound surround system, thereby providing an excellent viewing experience.

End User Insights:

• Residential
• Commercial
• Others
   

A detailed breakup and analysis of the set-top box market based on the end user has also been provided in the report. This includes residential, commercial, and others. According to the report, residential accounted for the largest market share on account of the increasing affordability of smart TVs and the rapid proliferation of HD channels is favoring the market growth.

Service Type Insights:

• PayTV
• Free-to-Air
   

A detailed breakup and analysis of the set-top box market based on the service type has also been provided in the report. This includes PayTV and free-to-air. According to the report, PayTV accounted for the largest market share as it refers to the television services that are directly provided by satellite, cable, or television company. It also offers premium content that can be delivered according to the pay plan or on demand.

Distribution Insights:

• Online Distribution
• Offline Distribution
   

A detailed breakup and analysis of the set-top box market based on the distribution has also been provided in the report. This includes online distribution and offline distribution. According to the report, offline distribution accounted for the largest market share on account of the availability and favorable price options is influencing the market positively. Moreover, the increasing demand for entertaining content and advertisement by various global emerging brands is favoring the market growth.

Regional Insights:

• Asia Pacific
• Europe
• North America
• Middle East and Africa
• Latin America
   

The report has also provided a comprehensive analysis of all the major regional markets, which include Asia Pacific, Europe, North America, the Middle East and Africa, and Latin America. According to the report, Asia Pacific was the largest market for set-top box. Rapid digitalization of cable TV networks and the increasing popularity of on-demand entertainment services, including movies, music, videos, and games, represent one of the major factors driving the demand for set-top box in the Asia Pacific region. Moreover, the easy availability of set-top box in online and offline stores is favoring the growth of the market in the region.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global set-top box market. Some of the companies covered in the report include:

• ARRIS International
• HUMAX Electronics
• DISH Network 
• Roku
• Huawei Technologies 
• Technicolor 
• Apple Inc.
• Google Inc.
• Samsung Group
• EchoStar Corporation
• Shenzhen Skyworth Digital Technology Co. Ltd.
   

Please note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the set-top box market from 2017-2028.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global set-top box market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the set-top box industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.