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4K Set Top Box Market Rapid Growth, Strong CAGR, Key Insights, Opportunities, Future Prospects And Leading Players Like Roku Inc., Infomir Group, Huawei Technologies Co. Ltd
4K Set Top Box Market
4K Set Top Box Market Size, Growth Rate, And Forecast
The global 4K set-top box market size is expected to grow from $6.09 billion in 2022 to $6.43 billion in 2023 at a compound annual growth rate (CAGR) of 5.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global 4K set-top box market size is expected to grow to $7.99 billion in 2027 at a CAGR of 5.6%.
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4K Set Top Box Market Drivers
The increasing demand for smart TVs is expected to propel the growth of the 4K set-top box market going forward.Smart television (smart TV) refers to a TV that provides interactive features similar to those involved in internet or web services such as video searching or interacting with the television in other ways using a set-top box or an operating system. The 4K set-top boxes are commonly used in smart TVs to watch streaming services on demand with high resolution which enhances the television-watching experience. For instance, in May 2022, according to Comscore, a US-based cross-platform measurement company, the global viewing hours and total viewing households of smart TVs remain the fastest-growing types of connected TV devices with a total of 59% of connected TV households having smart TVs in February 2022, up 4% from February 2021 and 9% from February 2020. Therefore, the increasing demand for smart TVs is driving the growth of the 4K set-top box market.
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4K Set Top Box Market Segments
• By Type: Internet Protocol Television (IPTV), Digital Terrestrial Television (DTT), Over-The-Top set-top boxes (OTT), Satellite Television, Hybrid Television Set-top Box
• By Application: Residential, Commercial
• By Distribution Channel: Online, Offline
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the 4K set top box market.
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4K Set Top Box Market Key Players
Major competitors in the 4k set-top box market are Roku Inc., Infomir Group, Huawei Technologies Co. Ltd., Humax electricals Pvt. Ltd., DISH Network Corporation, Tata Play Limited, ZTE Corporation, EchoStar Corporation, Apple Inc
The Business Research Company's "Global 4K Set Top Box Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The 4K Set Top Box Market Include:
1. Executive Summary
2. 4K Set Top Box Market Characteristics
3. 4K Set Top Box Market Trends And Strategies
4. 4K Set Top Box Market - Macro Economic Scenario
5. 4K Set Top Box Market Size And Growth
………………
27. 4K Set Top Box Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The 4K Set Top Box Market
29. 4K Set Top Box Market Future Outlook and Potential Analysis
30. Appendix
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