Global Set-Top Box Market Overview:
According to the latest report by IMARC Group, titled “Set-Top Box Market Report: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global set-top box market reached a value of US$ 22.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 25.2 Billion by 2027, exhibiting a CAGR of 1.75% during 2022-2027.
A set-top box is a hardware device that is used to convert video content to analog or digital TV signals. These TV and internet data signals are received via cable and telephone connection that is decoded and then displayed on the TV screen. A set-top box consists of turners, system buses, decoders, graphic processors, storage devices, demultiplexers, and decryptors. It provides multiple channels, at the request of the viewers, along with access to pay-per-view and premium channels. It also enables users to record the programs in real-time and watch them later, as per their convenience.
Covid-19 Outbreak Analysis:
The rapid outbreak of coronavirus disease (COVID-19) and the subsequent lockdown restrictions have negatively impacted the set-top box market across the globe. The mandatory closure of retail shops and home delivery services adversely affected the sales of set-top boxes during the onset of the pandemic. However, with the gradual easing of restrictions across the globe, multiple key players are partnering with local manufacturers for the domestic manufacturing of set-top boxes to tackle the supply chain disruption.
Global Set-Top Box Market Trends:
The global market is primarily driven by the rising penetration of high-speed internet connectivity. Additionally, the increasing popularity of over-the-top (OTT) platforms among individuals has encouraged key players to collaborate with leading production companies, including Amazon Prime, Netflix and Hotstar, to gain a competitive edge, thereby creating a positive market outlook. Besides this, the widespread popularity of on-demand video services and high-definition (HD) channels are also significantly supporting the product demand across the globe. Moreover, the growing investments by leading players in product innovations have led to the launch of a vast range of set-top boxes integrated with various features, such as digital video recording and Bluetooth connectivity, which are further gaining prominence among customers.
Global Set-Top Box Market 2022-2027 Analysis and Segmentation:
Competitive Landscape With Key Players:
- ARRIS International
- HUMAX Electronics
- DISH Network
- Huawei Technologies Co.
- Apple Inc.
- Google Inc.
- Samsung Group
- EchoStar Corporation
- Skyworth Digital
Also Read Blog: Top Set-Top Box Companies in World
Breakup by Type:
- Cable STB
- Satellite STB
- Digital Terrestrial Television (DTT) STB
- Internet Protocol (IP) STB
- Over-The-Top (OTT) STB
Breakup by Resolution:
- HD (High Definition)
- SD (Standard Definition)
- UHD (Ultra-High Definition)
Breakup by End-User:
Breakup by Service Type:
Breakup by Distribution:
- Online Distribution
- Offline Distribution
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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