Set Top Box Market to Grow at a CAGR of 3.4% by 2028 - Impact of COVID-19 Pandemic and Global Analysis by The Insight Partners

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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Major advances in digital technology, coupled with a rise in the adoption of broadband services, are driving the APAC set top box market share in a global market. In addition, the set top box market growth is positively influenced by the introduction of motion sensors and cameras into STBs. Moreover, leading players are launching smart remotes using gesture control for running STBs. To detect hand movements, these remotes use ultrasonic sensors and infrared light-emitting diodes to relay decoded signals to the STB. Market players also collaborate with content and internet service providers to raise STB sales in the countries.

Due to the rising adoption of various set top boxes in countries such as China and India, APAC is projected to become the largest market. A large portion of the Asian population tends to rely on TV cable and set top boxes for their entertainment over the years. The launch of Smart TVs and HD channels has contributed to a rise in digital TV viewing, which would eventually fuel the set top box market growth. For instance, in March 2018, Dish TV India Limited announced that the merger of Videocon D2h Limited with Dish TV India Limited had been completed. With this acquisition, they formed one of India's largest listed media companies and vowed to reduce set-top box procurement costs. Mergers of this stature complement the growth of the industry and assist in the rising customer demand. The demand for set-top box services in APAC has benefited from rapid internet adoption. The installation of set top boxes is now required by several local authorities in the area. Users will be able to enjoy the services of several DTH providers without switching set top boxes because of these systems' interoperability features. This will improve the services provided by cable TV providers. In addition, the increasing disposable income among the population is expected to fuel the growth of the set top box market growth during the forecast period.

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The set top box market size is segmented based on product, content quality, and geography. Based on product, the analysis is categorized into cable, satellite, IPTV, and others. By content quality, the set top box market size is segmented into standard definition, high-definition, and 4K. In terms of geography, the set top box market analysis is primarily segregated into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America.

The List of Companies - Set-Top Box Market
• Advanced Digital Broadcast
• Commscope Inc.
• Shenzhen Cozhou Electronics Co., Ltd (Coship)
• Huawei Technologies Co., Ltd.
• Humax Holdings
• Kaonmedia Co., Ltd.
• Sagemcom
• Skyworth Group Co., Ltd.
• Zinwell Corporation
• Altech UEC
• Technicolor SA

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About Us:
The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductors and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Devices, Technology, Media and Telecommunications, and Chemicals and Materials.

This release was published on openPR.