Set-Top Box Market: Global  Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Set-Top Box Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Report Format: PDF+Excel | Report ID: SR112023A1541
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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.

Global Set-Top Box Market Report

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.

 

 
 

 

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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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

 

 
 

 

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

To get more information about this market, Request Sample

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:

 

 
 

 

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  • 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:

Report Features Details
Base Year of the Analysis 2022
Historical Period 2017-2022
Forecast Period 2023-2028
Units US$ Billion
Segment Coverage Type, Resolution, End-User, Service Type, Distribution, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered ARRIS International, HUMAX Electronics, DISH Network, Roku, Huawei Technologies Co., Technicolor, Apple Inc., Google Inc., Samsung Group, EchoStar Corporation and Shenzhen Skyworth Digital Technology Co. Ltd.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)


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.

Key Questions Answered in This Report

The global set-top box market was valued at US$ 23.2 Billion in 2022.

We expect the global set-top box market to exhibit a CAGR of 1.5% during 2023-2028.

Rapid digitization of television networks, coupled with numerous advancements in digital broadcast technologies, are some of the key factors catalyzing the global set-top box market.

With the sudden outbreak of COVID-19, the online sales of set-top box have increased due to the upsurge in TV viewership based on introduction of stay-at-home orders. Although, the implementation of stringent lockdown regulations across various nations resulted in disrupted supply chains and temporary closure of numerous manufacturing units of set-top box. 

Based on the type, the global set-top box market can be bifurcated into satellite STB, cable STB, digital terrestrial television (DTT) STB, internet protocol (IP) STB, and over-the-top (OTT) STB. Among these, satellite STB currently account for the largest market share. 

Based on the resolution, the global set-top box market has been segmented into high definition, standard definition, and ultra-high definition, where high definition (HD) holds the largest market share.

Based on the end-user, the global set-top box market can be categorized into residential, commercial, and other sectors. Among these, the residential sector is leading the global market.

Based on the service type, the global set-top box market has been divided into payTV and free-to-air. Currently, payTV exhibits a clear dominance in the market.

Based on the distribution, the global set-top box market can be segregated into online distribution and offline distribution. Currently, offline distribution account for the largest market share.

On a regional level, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where Asia Pacific currently dominates the global market.

Some of the major players in the global set-top box market include ARRIS International, HUMAX Electronics, DISH Network, Roku, Huawei Technologies Co., Technicolor, Apple Inc., Google Inc., Samsung Group, EchoStar Corporation, Shenzhen Skyworth Digital Technology Co. Ltd., etc.

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Set-Top Box Market: Global  Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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