The 4K Set-top Box (STB) market size is estimated to expand at a significant CAGR during the forecast period, 2021 – 2028. The growth of the market is attributed to the niche economic community, growing focus on crystal-clear broadcast quality, and a need to fully leverage the capabilities of 4K televisions. Modern customers are expected to change their preferences from standard and high definition (HD) STB consoles to 4K STB consoles, as the market for high-quality in-home entertainment is growing rapidly.
A set-top box, known as a cable box or a television decoder, is an information appliance system that often has a TV tuner input and outputs output to a television set and an external source of signal, converting the source signal into material that is viewed on the television screen or other display devices. 4K set top boxes have applications in cable, satellite, over-the-air broadcasting networks, and others. Users use a telephone line or a cable link to access the Internet on the television with a device that connects to it.
Market Trends, Drivers, Restraints, and Opportunities:
- The IPTV and OTT system markets are expected to benefit from increased availability of high-speed broadband internet networks, especially in metropolitan and semi-metro cities around the world. Over the projected era, the increased prominence of these disruptive technologies is predicted to open substantial growth opportunities for 4K STBs.
- Some of the most well-known components and hardware suppliers, such as Sigma Designs, a US-based system-on-chip (SoC) solutions provider, launched HRD-enabled UHD STB SoCs, allowing them to provide high-quality visual experience.
- High subscription rates for 4K video content and more expensive set-top box devices than HD and SD STBs are projected to limit consumer penetration among low-income classes.
- Furthermore, issues such as the lack of high-speed broadband internet in developed countries, which is needed for OTT and IPTV service subscribers, are expected to stifle the industry growth.
Scope of the Report
The report on the 4K set-top box market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
4K Set-top Box Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Products (Internet Protocol Television [IPTV], Satellite, Digital Terrestrial Television [DTT], Over the Top [OTT], and Hybrid)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
ZTE, Technicolor, Roku, Mstar, Huawei, Infomir, Humax, EchoStar, and Amazon
Market Segment Insights:
Satellite-based 4K Set-top Box holds a key share in the market
Based on the products, the global 4K set-top box market is divided into Internet Protocol Television [IPTV], Satellite, Digital Terrestrial Television [DTT], Over the Top [OTT], and Hybrid. The satellite segment accounts for a key share of the market; however, the hybrid segment is anticipated to expand at a rapid pace during the forecast period, due to its connectivity with a variety of streaming and content delivery platforms.
Market in Asia Pacific is expected to grow at a rapid pace
The 4K set-top box market in Asia Pacific is projected to expand at a high CAGR. Increased penetration of 4K TVs in the upper economic class and government mandates relating to digitization in the area are largely responsible for fast growth prospects in the region. As a direct result of increased local demand, the prices of ultra HD televisions and compatible STB devices dropped, resulting in consumer growth in the area.
The 4K set-top box market has high growth opportunities in India. Leading Indian digital broadcast satellite providers, such as Videocon and Tata Sky, began introducing 4K STBs in order to provide customers, high-quality TV viewing experience and achieve a first-mover edge in the market with an estimated half a billion TV viewers.
Presence of high-speed network connectivity as well as add-ons and features available to customers in North America is projected to increase the IPTV devices in the 4K STBs market.
Segments Covered in the Report
The global 4K set-top box market has been segmented on the basis of
- Internet Protocol Television [IPTV]
- Satellite, Digital Terrestrial Television [DTT]
- Over the Top [OTT]
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
Key players in the market include ZTE, Technicolor, Roku, Mstar, Huawei, Infomir, Humax, EchoStar, and Amazon. Growing demand for UHD, immersive, and 3D TVs is projected to provide significant growth opportunities for industry entrants. Manufacturers have begun to incorporate features such as sleep mode in order to overcome questions posed by numerous energy-efficiency communities about the energy consumption of devices.