Global Set-Up Box Market By Product: IPTV, Satellite, Cable, DTT, OTT

According to the latest research by SkyQuest Technology, the Global Set Top Box Market was valued at US$ 18.66 billion in 2021, and it is expected to reach US$ 25.8 billion by 2028, with a CAGR of 3.8% during the forecast period of 2022 - 2028. The research provides up-to-date Set Top Box market analysis of the current market landscape, latest trends, drivers, and overall market environment.

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The increased streaming of OTT content on laptops, tablets, and smartphones is having some impact on the demand for set-top boxes. There were 29 million subscribers in the Indian OTT market in July 2020, up 30% from March 2020, according to data from the India Brand Equity Foundation (IBEF). Additionally, the lower subscription fees for OTT platforms compared to TV channels and their variety of features, including remote accessibility, are anticipated to have an impact on industry statistics. The set-top box market is, however, significantly impacted by the development of smart TVs with integrated OTT platforms and high-definition gaming apps. Consumers are becoming more interested in OTT smartphone applications due to their greater flexibility when compared to STBs, which will challenge industry statistics.

Manufacturers have released new hybrid and IPTV STBs as a result of the growth of OTT services. For instance, the Claro Company introduced the Hybrid Claro TV Box across all of Latin America in April 2021. Through various OTT platforms, this STB offers access to free-to-air channels, Facebook Watch, YouTube, and a variety of content from America Movils Brazil. Additionally, izzitv and the Mexican business Mirada will introduce an Android Hybrid STB in October 2020. This device will support VoD services, foreign channels, and Android OS features like the Google Play Store.
Read market research report, "Global Set Top Box Market By Product (IPTV, Satellite, Cable, DTT, OTT), By Content Quality (HD & Full HD, 4K & above) & By Region - Forecast and Analysis 2022-2028" by SkyQuest

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Set Top Box market will likely be dominated by Asia Pacific. It is advantageous for the growth of the local market that the middle-class population of the area, in particular, is consuming more media and entertainment content. As consumers become more knowledgeable about technologically advanced products and their benefits over traditional set-top boxes in terms of quality, functionality, and cost-effectiveness over the projection period, product demand is likely to increase. Leading manufacturers are actively incorporating the most recent technology, such as Bluetooth, motion sensors, and Virtual Reality (VR), into their products in an effort to strengthen their market positions, including Kaonmedia Co. Ltd. and Huawei. It is anticipated that the OTT media services market will grow. The regional market in North America is relatively saturated as the majority of households in the area already have these devices installed. However, the area is anticipated to appeal to new Internet-based STBs, like IPTV and OTT, due to features like customizable configurations and high-quality video and sound content transmission. The exponential growth is also anticipated to be fueled by the growing influence of foreign OTT service providers in developing countries, like Netflix, Star TV Network, and Amazon Prime Video.
The prominent market players are constantly adopting various innovation and growth strategies to capture more market share. The key market players are Samsonite International SA, Herschel Supply Co, USWE Sports AB, Patagonia Inc, Marmot Mountain among others.

The report published by SkyQuest Technology Consulting provides in-depth qualitative insights, historical data, and verifiable projections about Set Top Box Market Revenue. The projections featured in the report have been derived using proven research methodologies and assumptions.

Report Findings
● Drivers- New hybrid and IPTV STBs have been introduced by manufacturers as a result of the expansion of OTT services. For instance, in April 2021, the Claro Company launched the Hybrid Claro TV Box throughout all of Latin America. This STB provides access to free-to-air channels, Facebook Watch, YouTube, and a variety of content from America Movils Brazil via various OTT platforms. Additionally, in October 2020, izzitv partnered with the Mexican company Mirada to launch an Android Hybrid STB that supports foreign channels and VoD services and has Android OS features like the Google Play Store.

● Restraint- Compared to standard smart TVs, set-top boxes for smart TVs typically operate a little more slowly. That's because less expensive Android TV boxes perform some tasks more slowly than an average smart TV because they have slower processors. As a result, consumers who are willing to spend a little more on a smart television frequently decide against purchasing a regular television and adding a smart set-top box to it. These set-top boxes are problematic both in terms of how much energy they use and how they use it. It was discovered that nearly all set-top boxes consumed nearly as much energy when no programmes were being recorded or watched as when they were.

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What does this Report Deliver?
• Market Estimation for 20+ Countries
• Set Top Box Market demand by Region, Sub-Region, and Country
• Customization on Segments, Regions, and Company Profiles
• 100+ tables, 150+ Figures
• Global, Regional and Country specific Set Top Box Market Trends
• Comprehensive Mapping of Set Top Box Industry Parameters
• Attractive Investment Proposition in the Global Set Top Box Industry
• Competitive Strategies Adopted by Set Top Box Market Key Players
• Drivers, Restraints, Opportunities, Challenges and the impact on the Set Top Box Market Size
• Market growth rate till 2028
• Regulatory scenario, regional dynamics, and Set Top Box market insights of leading countries in each region
• In-depth Market insights by Region and Country
• Market Segmentation Trend Analysis, Opportunities and Growth
• Porter's five force analysis to know the market's condition
• Pricing Analysis and Set Top Box Market Sales
• Parent market analysis
• Product portfolio benchmarking

SkyQuest has segmented the Global Set Top Box Market based on Product Type, Content Quality, and Region:
● Global Set Top Box Market by Product Type (Revenue, US$ billion, 2022 - 2028)
o IPTV
o Satellite
o Cable
o DTT
o OTT
● Global Set Top Box Market by Content Quality (Revenue, US$ billion, 2022 - 2028)
o HD & Full HD
o 4K & above
● Global Set Top Box Market By Region (Revenue, US$ billion, 2022 - 2028)
o North America
▪ US
▪ Canada
o Europe
▪ Germany
▪ France
▪ UK
▪ Italy
▪ Spain
▪ Rest of Europe
o Asia Pacific
▪ China
▪ India
▪ Japan
▪ Rest of Asia Pacific
o Central & South America
▪ Brazil
▪ Rest of CSA
o Middle East & Africa
▪ GCC Countries
▪ South Africa
▪ Rest of MEA

Key Players in the Global Set Top Box Market
● Samsonite International SA(US)
● Herschel Supply Co (Canada)
● USWE Sports AB (Sweden)
● Patagonia Inc (US)
● Dakine Inc (US)
● Marmot Mountain (US)
● Under Armour, Inc (US)
● Kipling's Seoul (US)
● Pottery Barn (US)

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