Set-top Box Market: Current Analysis and Forecast (2021-2027)

Set-top Box Market: Current Analysis and Forecast (2021-2027)

The Global Set-top Box is Expected to Display an Elevated CAGR of ~5% over the forecast period (2021-2027)

The rising demand for smart TVs is pushing the demand for the set-top box globally. More than half (51%) of all households worldwide will own a smart TV by 2026, corresponding with 1.1 billion homes, according to Strategy Analytics. Moreover, at the end of 2020, 34% of global households – more than 665 million – owned a smart TV. Sales of smart TVs grew by 7.4% in 2020 to reach 186 million units, accounting for 79% of all flat-panel TVs sold.

Also, the growing inclination of millenniums towards gaming is propelling market growth. Numerous gaming applications are delivered through STBs through cloud gaming providers like Google Stadia and Tencent Games in China. Cloud gaming requires STBs that enable video and command streaming and low latency features, alongside improved CPUs and GPUs for better gaming experiences. Even low-tier STBs supports basic cloud gaming experiences, with Android TV already supporting Android gaming apps

Furthermore, the emergence of fitness applications through DTVs and STBs comes following the COVID-19 pandemic, which has seen many people exercise from home. This new trend combined with the renaissance of smart cameras provides an opportunity for fitness applications

In addition, rising awareness about Internet-based set-top box devices such as IPTV and OTT, as well as increasing development and introduction of innovative products such as 4K UHD TVs, 3D smart interactive TVs, and OLED TVs are some factors further fueling the growth of the global set-top box market.

Huawei Technologies Co. Limited, ARRIS International PLC (CommScope Inc.), Technicolor SA, Intek Digital Inc., HUMAX Electronics Co. Ltd, ZTE Corporation, Skyworth Digital Ltd, Sagemcom SAS, Samsung Electronics (M Box), Gospell Digital Technology Co. Limited, etc., are some of the prominent players operating in the Set-top Box market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products.

Insights Presented in the Report

“Amongst Product Type, Cable segment holds the major share”

Based on product type, the market is fragmented into Cable, Satellite, IPTV, DTT, and OTT. The cable setup box segment grabbed the major market share and dominated the market in 2020. Moreover, the market of this segment would reach USD XX Mn by 2027. The demand for the cable setup box is emerging from the developing economies across the Asia Pacific due to low prices and accessibility. Cable TV remains the most popular platform for creating awareness and spreading messages among the masses, several cable service providers are improving their technology and service offerings. However, the OTT segment would witness the highest CAGR in the forthcoming years

“Amongst Resolution Type, HD& Full HD segment to grab considerable market share”

Based on the resolution type, the market is fragmented HD & Full HD, and 4K & Above. The HD & full HD segment captured XX% market share in 2020 and dominated the market. The services providers across regions are launching new services in the HD & full HD resolution, which is adding pace to the growth of the market. Vodafone TV added Facebook Watch to their STB in October 2021 in Europe to intensify their expansion into the region with HD content

“North America represents one of the largest markets of Set-top Box market”

For a better understanding of the market dynamics of the Set-top Box market, a detailed analysis was conducted for different regions across the globe including North America, Europe, Asia Pacific, and the Rest of the world. North America dominated the market and generated the leading revenue share in 2020 owing to the availability of Set-top Box providers in abundance. Also, leading manufacturers of Set-top Box are currently implementing technologically advanced production processes to increase production efficacy and optimize product offerings

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
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• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive regional level analysis of the industry