Press release
Global Set-Top Box Market Size To Grow At A CAGR Of 3.5% In The Forecast Period Of 2023-2028
Set-Top Box Market Size, Share, Price Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
Forecast CAGR (2023-2028): 3.5%
The increasing adoption of television among the population, owing to the rapid urban development, growing per capita income across the emerging economies, and growing interest among the youth to experience high-quality viewing, is driving the demand for set-top boxes. The increasing popularity if OTT and video streaming platforms among working people, to escape from day-to-day stresses is further fuelling the global set-top box market.
Upgrades in digital broadcasting technologies, coupled with the emergence of a greater number of digital broadcasting companies are further propelling the demand for set-top boxes. Meanwhile, the heightened adoption of set-top box televisions in commercial spaces such as restaurants, hotels, cafes, and offices, among others, is expanding the opportunities for the set-top box market.
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Set-Top Box Industry Definition and Major Segments
A set-top box, also known as set-top unit, is an electronic equipment which decodes data or signals and displays them on a screen. It enables viewers to experience television viewing, while supporting various additional features such as home networking, browsing, and video-on-demand, among others. Picture quality displayed on a television may vary according to the type of set-top box being used.
Based on type, the market can be segmented into:
Cable STB
Satellite STB
Digital Terrestrial Television (DTT) STB
Internet Protocol (IP) STB
Over-The-Top (OTT) STB
Others
On the basis of resolution, the market has been classified into:
HD (High Definition)
SD (Standard Definition)
UHD (Ultra-High Definition)
Based on service type, the market can be broadly categorised into:
PayTV
Free-to-Air
By distribution channel, the market has been segmented into:
Online Stores
Offline Stores
Based on end use, the market is classified into:
Residential
Commercial
Others
On the basis of region, the market can be categorised into:
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Read Full Report with Table of Contents: https://www.expertmarketresearch.com/reports/set-top-box-market
Set-Top Box Market Trends
The key trends in the global set-top box market include technological advancements in televisions. Emergence of smart TVs equipped with Bluetooth and Wi-Fi technology and LED displays are propelling the demand for set-top boxes. Experiencing ultra-high-definition television is an aspiration in many households. Additionally, the digital revolution in countries worldwide is leading to a transition from cable TVs to set-top box-based TVs.
The thriving e-commerce sector is another crucial trend in the market which is bolstering the sale of televisions. Heavy discounts are offered on online platforms at the time of holidays or special occasions which are further fuelling the sale of televisions, and subsequently set-top boxes.
In geographical terms, Asia Pacific holds a significant share in the set-top box market. The large population of TV viewers across the region is driving the demand for set-top boxes. Availability of diverse channels such as sports channels, news channels, children's channels, and movie channels, and programmes ranging from daily soaps and reality shows to movies and documentaries, among others, is leading to a heightened incorporation of set-top boxes for modern televisions.
Key Market Players
The major players in the set-top box market report are ARRIS International, plc, DISH Network Corporation, Roku Inc., EchoStar Corporation, Huawei Technologies Co., Ltd., and Technicolor S.A., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter's Five Forces Models.
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