4K Set-top Box Market Size, Share & Trends Analysis Report By Application (Residential, Commercial), By Product (IPTV, Satellite, Cable, OTT, DTT, Hybrid), By Region (EU, Asia Pacific, Latin America), And Segment Forecasts, 2023 - 2030

4K Set-top Box Market Size, Share & Trends Analysis Report By Application (Residential, Commercial), By Product (IPTV, Satellite, Cable, OTT, DTT, Hybrid), By Region (EU, Asia Pacific, Latin America), And Segment Forecasts, 2023 - 2030

4K Set-top Box Market Growth & Trends

The global 4K set-top box market size is anticipated to reach USD 4.10 billion by 2030, growing at a CAGR of 8.4% from 2023 to 2030, according to the latest report by Grand View Research, Inc. The 4K STB is an electronic device that converts ultra-HD 4K video content to digital TV signals. The increasing demand and generation of ultra-HD videos worldwide, backed by the growing purchasing power, are expected to affect the market positively. For instance, in November 2022, Sony India claimed the trend of 4K content during the COVID-19 pandemic increased the demand for 4K TVs in India.

Moreover, the prices of 4K television sets are reducing, which has become a growth-driving factor for the industry. The ultra-HD (4K) set-top boxes include specifications that can meet the technological advancements 4K TVs offer by enabling enhanced picture quality and sound compared to lower-resolution TVs. The application of 4K set-top boxes in residential homes is expected to dominate the industry due to the popularity of streaming content. The trend of 4K content via OTT platforms, such as Netflix, Amazon Prime, Disney Hotstar, and more, is also offered by 4K set-top boxes. For instance, Tata Play’s subscription offers a 4K set-top box along with a Netflix subscription.

The Asia Pacific region accounted for the largest revenue share in 2022 and is expected to lead the industry throughout the forecast period. Developing countries, such as India and China, are anticipated to be strong markets for 4K set-top boxes as 4K TV prices are reducing and 4K content is becoming popular and easily accessible due to fast and cheap internet services. Several DTH operators, such as Tata Play and Airtel, recognized the demand and began locally manufacturing 4K STBs to enter the market. For instance, in January 2020, Reliance Jio announced it will manufacture all STBs at the company’s facility in Noida, India.

4K Set-top Box Market Report Highlights

• The IPTV segment accounted for thelargestrevenue share in 2022 due to the high penetration of low-cost and high-speed internet in regions, such as Asia Pacific
• The satellite segment is anticipated to record the highest CAGR over the forecast period owing to vast geographical coverage for the service and deployment of high-quality image resolution
• The residential segment recorded the highest revenue share in 2022 as a result of homeowners’ preference for 4K content in a bundled form (TV channels and OTT), which 4K set-top boxes offer
• Asia Pacific accounted for the largest revenue share in 2022 owing to new market players launching low-priced 4K STBs in the region