According to the latest report by IMARC Group, titled “India Set-Top Box Market: Industry, Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the India set-top box market size is expected to grow at 2.3% during 2022-2027. A set-top box (STB) refers to a device that allows a digital signal to be received, decoded, and displayed on a television. Satellite, cable, internet protocol (IP), over-the-top (OTT) and digital terrestrial television (DTT) are some common product variants. It consists of an audio interface, flash, a front panel, power supply, radio frequency (RF) modulator, random access memory (RAM), decoder, and video interface. It also includes a web browser, MPEG decoder chip, and an operating system to support video conferencing, home networking, video-on-demand, and internet protocol (IP) telephony. As compared to conventional analog systems, STB provides enhanced picture and sound quality, premium channels, and access to on-demand content, including movies, shows, and events.
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.
India Set-Top Box Market Trends:
The growing digitization of television networks and the rising utilization of Over the Top (OTT) media services are primarily driving the India STB market growth. An STB is widely used for seamless, high-quality video streaming and value-added services, such as channel pack subscriptions, HD channels, and interactive videos. In line with this, increasing advancements in digital broadcasting technologies and the rising demand for high definition (HD) channels and interactive videos are propelling the market growth. Apart from this, the integration of Bluetooth, the Internet of Things (IoT), artificial intelligence (AI), and virtual reality (VR) that assist in exploring and enhancing viewer experience are providing an impetus to the market growth. Additionally, the widespread product adoption as a popular entertainment medium, especially during the COVID-19 outbreak and the consequent implementation of mandatory lockdowns, is positively influencing the market growth. Other factors, including rising expenditure capacities of consumers, the proliferation of internet services, significant growth in the media and entertainment sectors, and the increasing adoption of high-quality and innovative home appliances, are anticipated to drive the market growth.
- On the basis of the type, the market has been classified into cable, satellite, digital Terrestrial Television (DTT), internet protocol (IP), and over-the-top (OTT) STBs.
- Based on the resolution, the market has been divided into HD (high definition), SD (standard definition), and UHD (ultra-high definition).
- On the basis of the end user, the market has been divided into residential, commercial, and others.
- Based on the service type, the market has been bifurcated into pay TV and free-to-air.
- On the basis of the distribution, the market has been segregated into online and offline distribution.
- Based on the region, the market has been categorized into North, West and Central, South, and East India.
- The competitive landscape of the industry has also been examined along with the profiles of the key players.
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