Android Set-top Box Market Outlook 2031
The Global Android set-top box market size was valued at USD 351.77 Million in 2022 and is projected to reach USD 1.74 Billion by 2031, expanding at a CAGR of 19.5% during the forecast period 2023 - 2031. The growth of the market is attributed to an increase in viewers' demand for hybrid content.
Furthermore, the fast growth of digitization in developed countries is assisting the demand for an android set-top box (STB) to expand at a rapid rate. Other factors such as increasing internet penetration as well as the adoption of OTT and IPTV platforms, are projected to provide substantial growth opportunities during the forecast period.
A set-top box for Android is a device that connects to a TV set providing consumers with a wide variety of applications on their TVs ranging from online browsing to video streaming. Service facilities such as network TV programs, video websites, and games are all available on the Android setup box.
Due to the ability to run the Android TV operating system, these devices come in a variety of shapes and sizes while increasing popularity of the devices in recent years because of their smooth experience.
These devices are suitable for those who travel regularly since they provide a local storage capacity that can store several videos in the library and can be viewed on request.
Android Set-top Box Market Trends, Drivers, Restraints, and Opportunities
- Increasingly popularity of the devices and wide adoption of these set-top boxes for household use are key driving factors expected to boost the market.
- Introduction of the lower costs and development of advanced featured devices are projected to fuel the Android set-top box market expansion during the forecast period.
- Increasing the number of collaborations between OEMs and TV network operators around the world is another major driver for the market.
- Rising demand for OTT streaming services and platforms couple with the availability of high-speed broadband present key factors for the market.
- Accelerating the adoption of OTT and Video on Demand (VoD) services due to the wide access to new technology like 4G/LTE and accelerated growth in next generation 5G connectivity are boosting the market.
- Users are investing more time on streaming platforms than on conventional mediums and increasing preference for video browsing are increasingly fueling the Android set-top box market expansion.
Scope of Android Set-top Box Market Report
The report on the global android 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.
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Attributes
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Details
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Report Title
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Android Set-top Box Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Resolutions (HD & Full HD and 4K & Above) and Distribution Channels (Online and Brick & Mortar),
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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NVIDIA Corporation, Shenzhen SDMC Technology Co., Ltd., Coship, ARRIS International Limited, Evolution Digital, LLC, HUMAX Electronics Co., Ltd., Kaonmedia Co., Ltd., SAGEMCOM, Shenzhen Skyworth Digital Technology Co., Ltd., and Technicolor
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Android Set-Top Box Market Segment Insights
HD & full HD segment dominating the market
Based on resolutions, the global Android set-top box market is bifurcated into HD & Full HD and 4K & above. The HD and full HD segment is currently dominating the market and is predicted to continue the trend during the forecast period.
Wide production of high-video quality distribution at an economical prices, HD and full HD android boxes are becoming increasingly popular due to rising demand. Furthermore, the low prices and convenience to use these boxes are attracting the middle-class demographic, resulting in the increasing demand for this resolution segment.
On the other hand, the 4K and above segment is expected to grow at a rapid pace during the forecast period. Factors such as the demand for original ultra-high-resolution content is likely to drive demand for ‘4K and above' boxes around the world.
Furthermore, the growing popularity of at-home entertainment through large-screen TV displays is expected to boost the demand for 4K android set-top boxes. Several major players in the industry are aggressively invested in high-end technology to deliver 4K Android STBs at a competitive price.
Brick & mortar segment is projected to account for a large market
Based on distribution channels, the global Android set-top box market is classified into online and brick & mortar. The brick & mortar segment held a dominant share of the market in 2020 and is expected to account for a large market share in the coming years.
Physical verification of the device by buyers before making any buying decision is one of the factors driving the growth of this market. Furthermore, most consumers first study and acquire product-related knowledge on online sites before purchasing it in physical stores, which helps to propel the segment growth.
However, the online segment is projected to register a substantial CAGR during the forecast period owing to changing customer preferences for shopping on e-commerce sites. Customers’ willingness to compare different items on different metrics and the abundance of options available on e-commerce websites are two key factors driving this segment development.
Android Set-top Box Market Regional Outlook
Asia Pacific is to dominate the market
Based on regions, the global Android set-top box market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. In terms of volume, the market in Asia Pacific dominated the overall market for Android set-top boxes in 2020.
An increase in internet and smart TV penetration, which leads to online data use, is a key factor influencing growth in the region. Furthermore, increasing consumer awareness of content digitization in emerging markets such as India is expected to boost regional growth. China is one of the leading countries with many suppliers of both cost-effective and feature-rich android set-top boxes.
North America is projected to hold a key market share in the coming years. The adoption of ultra-high-definition (UHD) devices, the expansion of UHD content, and the increasing user demand for watching content through subscription-based OTT platforms such as Netflix and HBO Now are some of the major factors driving the regional market growth. Growing interest in OTT and IPTV platforms, especially among younger millennial in the US is expected to push the regional market growth.
Segments
Resolutions
Distribution Channels
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- NVIDIA Corporation
- Shenzhen SDMC Technology Co., Ltd.
- Coship
- ARRIS International Limited
- Evolution Digital, LLC
- HUMAX Electronics Co., Ltd.
- Kaonmedia Co., Ltd.
- SAGEMCOM
- Shenzhen Skyworth Digital Technology Co., Ltd.
- Technicolor
Competitive Landscape
Some of the key players in the global Android set-top box market include NVIDIA Corporation, Shenzhen SDMC Technology Co., Ltd., Coship, ARRIS International Limited, Evolution Digital, LLC, HUMAX Electronics Co., Ltd., Kaonmedia Co., Ltd., SAGEMCOM, Shenzhen Skyworth Digital Technology Co., Ltd., and Technicolor.
Due to the customer demand for high-end and feature-rich smartphones, these leading players in the market are turning their attention away from traditional boxes and toward new-age android set-top boxes. Manufacturers have been actively engaging in R&D initiatives and establishing strategic alliances to launch cost-effective devices to achieve a competitive advantage.
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