Set-Top Box Market Size, Share & Industry Growth by 2028

According to our latest market study on "Set Top Box Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Product and Content Quality," the set top box market is expected to grow from US$ 20,855.1 million in 2022 to US$ 25,535.9 million by 2028; it is estimated to grow at a CAGR of 3.4% from 2022 to 2028.

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Satellite TVs are among the most significant applications of set-top boxes. The implementation of a show-recording facility that allows viewers to record their shows in real-time and view them later, depending on their convenience is one of the key developments brought in by satellite TVs. India is a major market for set-top boxes. In addition to a booming direct-to-home satellite market, the country is approaching the completion of its cable TV system digitization goal. Moreover, according to the Telecom Regulatory Authority of India (TRAI), the highest subscriber base was registered in 2019; in March 2019, the country registered 72.44 million active subscribers.

Further, the high demand for high-definition (HD) picture quality is influencing the growth of the set-top box market in the world. HD set-top boxes are equipped with both HD channels and standard (SD) channels. In March 2018, Dish TV India Limited announced the completion of its merger with Videocon D2h Limited. With this merger, they formed one of India's largest listed media companies, with a vow to reduce set-top box procurement costs. Thus, the launch of smart TVs and HD channels has led to a rise in digital TV watching, which, in turn, would fuel the growth of the set-top box market in the coming years.

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Technological improvements have resulted in introducing a wide range of STBs with varying features. This has eventually led to fierce rivalry among the set-top box providers. A standalone set-top box that allows viewers to transmit and record N programs is an over-the-air digital video recorder (DVR) system. Apart from DVRs, subscription-based N service providers also sell STBs to consumers. DISH, a US-based television provider, has integrated artificial intelligence (Al) in its new set-top boxes to enable recording facilities. Companies are integrating features such as voice command with the help of technologies such as natural language processing (NIP) to simplify searching channels and shows.

The List of Companies - Competitive Landscape and Analysis

According to the set-top box market analysis, ADVANCED DIGITAL BROADCAST SA; ALTECH UEC; ARRIS INTERNATIONAL LIMITED (COMMSCOPE); COSHIP (SHENZHEN COZHOU ELECTRONICS CO., LTD.); HUAWEI TECHNOLOGIES CO., LTD; HUMAX CO., LTD.; KAONMEDIA CO., LTD.; SSAGEMCOM; SKYWORTH; and ZINWELL CORPORATION are a few key players operating in the set-top box market. In addition, several other important set-top box market players were studied and analyzed during the course of this study to get a holistic view of the global & regional market share and its ecosystem.

The players operating in the set-top box market are mainly focused on the development of advanced and efficient products. Set-Top box market companies are implementing various strategies to match the technological advancements in the set-top box market.

1. In 2020, Technicolor launched new versatile and powerful JADE set-top boxes (STB). JADE set-top boxes is a 4K ultra HD device, debuting the latest technology standards such as Wi-Fi 6, AV1 decoding, and far-field voice in a small, customizable design. JADE set-top boxes are for both Android TV and RDK-V.

2. In 2019, Sagemcom announced the launch of the Orange IWU 200, a new compact yet powerful 4K UHD set-top box that delivers very high-quality picture and sound, based on the BCM72604, one of the latest 4K SOC from Broadcom, allowing the design of low consumption products.

3. In 2017, Huawei and Dolby Laboratories, Inc. announced that the Huawei Q22 set-top box is the first IPTV set-top box to support Dolby Vision's high-dynamic-range (HDR) technology. The Huawei Q22 set-top box will transform the TV experience in the home by delivering greater brightness and contrast as well as a palette of rich colors.

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