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The global set-top box market was valued at US$ 22.6 Billion in 2021.
We expect the global set-top box market to exhibit a CAGR of 1.75% during 2022-2027.
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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