Set-top box market will register year-on-year growth at 11%, with the overall valuation expected to reach US$ 28 Bn in 2021. As per the study, demand for set top boxes is expected to rise at 9% CAGR between 2021 and 2031.
Increasing production and sales of smart television across the U.S., India, and Malaysia will improve the demand for set top boxes. Regionally, Asia Pacific excluding Japan (APEJ) and North America are expected to dominate the global set-top box market, collectively accounting for 55.7% of global market share.
Growing demand for high-definition videos and powerful interfaces with advanced technology will propel the sales of high-definition set-top boxes, as per FMI. The set-top box market will represent over 10% of sales in the global digital broadcasting industry.
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Segmental forecast of the global set-top box market
The global set-top box market is segmented on the basis of product type (Cable Set-Top Boxes, Satellite Set-Top Boxes, IPTV Set-Top Boxes and OTT (Over the Top) Devices) and by video quality (Standard-Definition Set-Top Boxes, High-Definition Set-Top Boxes).
- In the year 2017, the satellite set-top box segment is estimated to be valued at US$ 8,458.1 Mn and is expected to register a CAGR of 8.1% during the forecast period
- The OTT devices set-top box segment is estimated to be valued at US$ 3,039.1 Mn in the year 2017 and is forecasted to touch a value of US$ 3,406.0 Mn in the year 2018, reflecting a year-on-year growth rate of 12.2%
- In the year 2017, the SD set-top box segment is estimated to be valued at US$ 5,377.8 Mn and is expected to register a CAGR of 5.1% during the assessment period
- The HD set-top box segment is estimated to be valued at US$ 16,891.0 Mn in the year 2017 and is forecasted to touch a value of US$ 18,532.1 Mn in the year 2018, reflecting a year-on-year growth rate of 9.7%
- In 2017, the North America set-top box market is estimated to be valued at US$ 5,748.4 Mn and is projected to reach US$ 9,942.0 Mn by the end of 2027. The market in North America is expected to represent incremental opportunity of US$ 4193.6 Mn between 2017 and 2027
- In 2017, the APEJ set-top box market is estimated to be valued at US$ 6,652.4 Mn and is projected to reach about US$ 16,703 Mn by the end of 2027. The market in APEJ is expected to represent incremental opportunity of US$ 10,050.3 Mn between 2017 and 2027
Global Set-top Box Market Forecast 2017-2027
Future Market Insights predicts the global set-top box market to be valued at about US$ 22,269 Mn by the end of 2017 and will continue to grow at a CAGR of 7.5% during the period of study to reach a market valuation of about US$ 46,091 Mn by the end of the forecast period.
Competitive Landscape
The report profiles some of the top companies operating in the global set-top box market including Humax Co., Ltd., Huawei Technologies Co., Ltd., Kaonmedia Co., Ltd., Technicolor SA ADB (Advanced Digital Broadcast), SA Sagemcom SAS Samsung Electronics Co. Ltd., ARRIS Group, Inc, EchoStar Corporation, Microsoft Corporation, ST Microelectronics, Texas Instrument and Broadcom among others.
Set top box (STB) Market by Category
Product:
- Cable Set-Top Boxes
- Satellite Set-Top Boxes
- IPTV Set-Top Boxes
- OTT (Over the Top) Devices
Video Quality:
- Standard-Definition Set-Top Boxes
- High-Definition Set-Top Boxes
Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan (APEJ)
- Middle East & Africa
- Japan
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Key Questions Answered in the Report
- What is the current value of the global set top box market?
– The global set top box market is expected to reach a valuation around US$ 28 Bn in 2021.
- At what rate did the global set top box market grow between 2016 and 2020?
– The global set top box market grew at 7.5% CAGR between 2016 and 2020.
- What are the key trends boosting set top box sales?
– Increasing adoption of smart television, improved standard of living, and advancements in digital broadcast technologies are the factors propelling the sales of set top boxes.
- What is the total share of top players operating in the global set top box market?
– Top 5 players in the global set top box market are expected to hold around 45% of the total market share.
- Which are the major countries driving demand for set top box?
– As per Future Market Insights, India, Australia, and Malaysia are identified as key exporters in set top box market.