Set Top Box Market

Set Top Box Market by Product (Satellite STBS, Digital Terrestrial Television (DTT), IPTV, Cable, and OTT), Content Quality (HD & Full HD and 4K), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: CG-512
  • Author: Growth Market Reports
  • Rating: 4.8
  • Total Reviews: 2
  • No. Of Pages: 194
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The global set top box market was valued at USD 20.1 billion in 2020 and is anticipated to reach USD 341.05 Billion by 2028, expanding at a CAGR of 3.2 % during the forecast period, 2021 – 2028. The growth of the market is attributed to increasing adoption of broadband and internet services along with widespread availability of HD channels and on-demand video services.
 

Set Top Box Market Key Takeaways


A set top box (STB) or a cable box is an appliance that contains TV tuner input and display output. It accepts signals, decrypts them, and displays them on the television. The incoming signal is either an internet data or TV signal range. Earlier, set top boxes were used to view a limited range of TV channels or satellite cable channels, but now a large variety of channels are available for viewing.

Market Trends, Drivers, Restraints, and Opportunities:

  • Evolution in digital TVs played a vital role in changing customers and viewer’s attitude towards entertainment content over the internet and television. This, in turn, drives the market.
  • Rising demand for OTT platforms such as Netflix, Amazon Prime Video, and Hulu is estimated to fuel the market.
  • Rising need for next generation STBs integrated with Video on Demand (VoD), television broadcasting, and internet services is expected to increase growth opportunities for the market.
  • Features including sharing on other devices such as portable media players and multi-room TV networks and digitization in technology increased the demand for OTT and VoD platforms.
  • STB architectures upgraded with the integration of content protection system and new features, which drives the set top box market.
  • Technological transformation in the market from satellite boxes and standalone cables to hybrid boxes implemented with OTT services is expected to boost the market.
  • Rising awareness about IP-based set top boxes, such as OTT and internet protocol television, increased the demand for set top boxes.
  • Mandatory government regulations on digitization of cable TV and successive migration of analog TV to digital TV drives the demand for STBs.
  • Launch of high-resolution TV sets encouraged service providers and manufacturers to provide HD set top boxes to fulfill the customers demand for high-quality content.
  • Technology expansion enabled the advancement of innovative products and integration of numerous features including storage capabilities. This factor boosts the market.

Scope of the Report:

The report on the 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.

Attributes

Details

Report Title

Global Set Top Box Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Product (Satellite STBS, Digital Terrestrial Television (DTT), IPTV, Cable, and OTT), Content Quality (HD & Full HD and 4K), and Regions

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Huawei Technologies Co. Ltd., Samsung Electronics Limited, Technicolor, EchoStar Corporation, Amazon.com, Inc., HUMAX Co. Ltd., Cisco Systems, Inc., ADB Global, Skyworth Group, and Coship Electronics Co. Ltd.

 

Market Segment Insights:

The cable STBs segment is projected to hold a major market share of the total revenue during the forecast period
Based on products, the global set top box market is segregated as satellite STBs, Digital Terrestrial Television (DTT), IPTV, cable, and OTT. The cable STBs segment is estimated to expand at a high CAGR during the forecast period. These STBs provide several benefits such as increased channel carrying capacity and improved reception quality, which results in increased demand. Moreover, stringent government regulations about digitization of cable networks in developing countries such as India are boosting the product demand.

The OTT segment is anticipated to grow at a rapid pace during the forecast period. Technological advancement in the OTT segment increased the demand for enhanced sound quality and high-resolution picture. OTT offers improved features such as simplified payment methods, accessible time shifted viewing, and minimized time-to content. Telecom companies, Pay-Tv operators, and media companies are inclining towards a user-driven innovation, recognizing user experience as a top priority to maintain their position among the competitive players. Additionally, OTT companies such as Amazon and Netflix are providing enhanced 4K content to its users, increasing the demand worldwide.

The HD & full HD segment is estimated to hold a key market share of the total revenue during the forecast period
On the basis of content quality, the global set top box market is bifurcated into HD & full HD and 4K. The HD & full HD segment is anticipated to expand at a high CAGR during the forecast period. Demand for HD & full HD devices increased, due to accessibility to a wide range of channels as compared to others. These STBs act as substitutes to the traditional SD variants, due to their benefits such as enhanced sound and picture quality.

The 4K segment is likely to expand at a high CAGR during the forecast period. Growth of the segment is attributed to rising demand for high-resolution color content, advanced pixel resolution, and sharp picture quality. Significant digitization coupled with strict government initiatives for compulsory installation of set top boxes are estimated to drive the market. The STB market is projected to gain importance in Asia Pacific, due to presence of low cost STB producers, particularly in countries such as Taiwan, Korea, and China.
 

Set Top Box Market By Key Players


The market in Asia Pacific a held a major market share of the total revenue in 2019
In terms of regions, the global set top box market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in Asia Pacific is expected to expand at a rapid pace during the forecast period. Rising demand for digitization in rural and urban areas is driving the market in the region. Rising consumer awareness among the urban population regarding technological advancements along with the comparison between pricing, benefits, and features is estimated to fuel the market. Presence of major players in countries such as Japan and China drives the regional growth. Additionally, increasing eminence of OTT service providers such as Star TV Network, Netflix, and Amazon Prime Video in developing countries is projected to boost the market.

The market in Latin America is projected to expand at a rapid pace during the forecast period. High speed internet is available in the region, owing to strong competition among internet providers in the region. Additionally, increasing number of Pay-Tv subscribers and changing government policies in support of television industry in the region is anticipated to propel the market during the forecast period.
 

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Set Top Box Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Set Top Box Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Set Top Box Market - Supply Chain
  4.5. Global Set Top Box Market Forecast
     4.5.1. Set Top Box Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Set Top Box Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Set Top Box Market Absolute $ Opportunity
5. Global Set Top Box Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Set Top Box Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Set Top Box Demand Share Forecast, 2019-2026
6. North America Set Top Box Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Set Top Box Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Set Top Box Demand Share Forecast, 2019-2026
7. Latin America Set Top Box Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Set Top Box Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Set Top Box Demand Share Forecast, 2019-2026
8. Europe Set Top Box Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Set Top Box Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Set Top Box Demand Share Forecast, 2019-2026
9. Asia Pacific Set Top Box Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Set Top Box Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Set Top Box Demand Share Forecast, 2019-2026
10. Middle East & Africa Set Top Box Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Set Top Box Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Set Top Box Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Set Top Box Market: Market Share Analysis
  11.2. Set Top Box Distributors and Customers
  11.3. Set Top Box Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Huawei Technologies Co. Ltd.
     11.4.2. Samsung Electronics Limited
     11.4.3. Technicolor
     11.4.4. EchoStar Corporation
     11.4.5. Amazon.com, Inc.
     11.4.6. HUMAX Co. Ltd.
     11.4.7. Cisco Systems, Inc.
     11.4.8. ADB Global
     11.4.9. Skyworth Group
     11.4.10. Coship Electronics Co. Ltd.

Segments Covered in the Report:
The global set top box market has been segmented on the basis of

Products

  • Satellite STBS
  • Digital Terrestrial Television (DTT)
  • IPTV
  • Cable
  • OTT

Content Quality

  • HD & Full HD
  • 4K

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key players in the global set top box market include Huawei Technologies Co. Ltd., Samsung Electronics Limited, Technicolor, EchoStar Corporation, Amazon.com, Inc., HUMAX Co. Ltd., Cisco Systems, Inc., ADB Global, Skyworth Group, and Coship Electronics Co. Ltd. Launch of cameras and motion sensors in STBs are the recent developments in the STB industry. Some STB chips are available with Bluetooth connectivity and allow STB connection through motion recognition and remote control. Availability of enhanced services and extra features of STBs at low prices helps increase the customer base and drives the market. Huawei provides low cost STBs for developing countries such as India and Zimbabwe, where government has put compulsion on cable digitization.
 

Set Top Box Market By Key Players

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