Set Top Box Market: HD And Full HD Segment Is Anticipated To Dominate With A Volume And Revenue Share
Set Top Box Industry Overview
The global set top box market size was estimated at 22.57 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of more than 3.2% from 2021 to 2028. The rising internet and broadband penetration and the growing preference for HD channels and on-demand video services are the factors expected to drive the market growth. Transitions across the digital TV arena have played a vital role in transforming the customers’ attitude towards the consumption of media content over the internet and television. A significant surge in the viewership across OTT platforms, such as Amazon Prime Video, Hulu, Disney+ Hotstar, and Netflix, is also expected to contribute to high revenue generation over the forecast period.
Gather more insights about the market drivers, restrains and growth of the Global Set Top Box market
With an increase in disposable income and the progressing middle-class population, the demand for media-rich home entertainment services among consumers is increasing. As such, the growing demand for next-generation Set Top Boxes (STBs) that can support internet-based services, Video on Demand (VoD), and television broadcasting are opening new opportunities for the market incumbents. The media landscape is also undergoing a paradigm shift in the wake of the outbreak of the COVID-19 pandemic, primarily driven by technology proliferation and integration of digital technologies. As a result, the leading companies are focusing on adopting the latest technologies to replace the conventional settings. At the same time, as a result of the lockdowns imposed in several countries as part of the efforts to contain the spread of coronavirus, individuals are spending a considerable amount of time indoors, thereby driving the demand for media & entertainment services. These shifting patterns are subsequently expected to drive the growth of VoD and OTT consumption and support significant revenue generation over the forecast period.
The demand for Android STBs is also growing significantly owing to the enhanced and personalized experience Android STBs can offer. Features, such as a robust app ecosystem, voice recognition, TV Input Framework (TVIF), and video conferencing, offered by Android STBs are fueling the demand for these devices. Multiple connectivity options, such as Wi-Fi, Ethernet, HDMI, and Bluetooth, are also playing a vital role in driving the demand for the latest STB models. The integration of advanced technologies, such as Bluetooth Low Energy (BLE), voice-enabled remote, and Full HD and 4K/8K resolution support, in the latest STB models to make them stand out against the conventional set top boxes, also poses immense growth potential for the market over the forecast period.
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Set Top Box Market Segmentation
Grand View Research has segmented the global set top box market based on product, content quality, and region:
Set Top Box Product Outlook (Volume, Million Units; Revenue, USD Million, 2016 - 2028)
- IPTV
- Satellite
- Cable
- DTT
- OTT
Set Top Box Content Quality Outlook (Volume, Million Units; Revenue, USD Million, 2016 - 2028)
- HD & Full HD
- 4K & Above
Set Top Box Regional Outlook (Volume, Million Units; Revenue, USD Million, 2016 - 2028)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies profiled:
Some prominent players in the global Set Top Box market include
- Commscope (ARRIS International, plc)
- Coship Electronics Co.Ltd.
- Huawei
- Kaonmedia Co., Ltd.
- Sagemcom SAS
- Samsung Electronics Co. Ltd.
- Technicolor SA
- Advanced Digital Broadcast (ADB)
Order a free sample PDF of the Set Top Box Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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