Press release
Set-Top Box Market Growth Outlook, Leading Companies Analysis, Regional Insights, Business Strategies, and Report 2023-2028
Set-Top Box Market Report 2023
Report Highlights
How big is the set-top box market?
• Market Size in 2022: US$ 23.2 Billion
• Market Forecast in 2028: US$ 25.5 Billion
• Growth rate (2023 to 2028): CAGR of 1.5%
• Base Year of the Analysis: 2022
• Forecast Period: 2023-2028
What are set-top box?
A Set-Top Box (STB) is an electronic device that connects to a television to receive and decode television signals from cable, satellite, or terrestrial sources before displaying programming on the TV screen. STBs are compact, equipped with inputs for various cables and outputs for audio and video, and facilitate recording and playback, internet connectivity, and streaming access. In addition to this, STBs also provide additional features such as parental controls, electronic program guides, and interactive features such as games and quizzes. Some of the advantages of STBs include wider selection of programming to choose from, additional features for an enhanced viewing experience, and better picture and sound quality compared to traditional television sets.
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What are the growth prospects and trends in the set-top box industry?
The global market is primarily driven by the escalating demand for high-definition (HD) and ultra-high-definition (UHD) content among the masses. This can be attributed to the rising popularity of high-quality content such as 4K and 8K videos requiring compatible set-top boxes. In line with this, the paradigm shift towards digital broadcasting from analog broadcasting is resulting in a higher uptake of set-top boxes capable of receiving digital signals. Moreover, the rising adoption of multiple streaming service providers are resulting in an increased demand for internet-connectivity-based and online content accessing set-top boxes. In addition to this, continual technological advancements, such as the emergence of more efficient video compression algorithms and premium-quality processors are providing an impetus to the market. Also, the growing integration of STBs with home automation systems along with the increasing adoption of internet protocol television (IPTV) services is creating a positive market outlook. Some of the other factors contributing to the market include rapid urbanization and digitization, fierce competition among manufacturers resulting in feature-rich set-top boxes at competitive prices, inflating disposable income levels and extensive research and development (R&D) activities.
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What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Type:
• Cable STB
• Satellite STB
• Digital Terrestrial Television (DTT) STB
• Internet Protocol (IP) STB
• Over-The-Top (OTT) STB
Breakup by Resolution:
• HD (High Definition)
• SD (Standard Definition)
• UHD (Ultra-High Definition)
Breakup by End-User:
• Residential
• Commercial
• Others
Breakup by Service Type:
• PayTV
• Free-to-Air
Breakup by Distribution:
• Online Distribution
• Offline Distribution
Market Breakup by Region:
• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa
Who are the key players operating in the industry?
• ARRIS International
• HUMAX Electronics
• DISH Network
• Roku
• Huawei Technologies Co.
• Technicolor
• Apple Inc.
• Google Inc.
• Samsung Group
• EchoStar Corporation
• Skyworth Digital
Also, Read Blog: Top Set Top Box Brands in World: https://www.imarcgroup.com/top-leaders-global-set-top-box-market
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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