Press release
Set-Top Box Market Report 2024: Strategies And Recent Developments | ADB Technology Co. Ltd., Humax Co. Ltd., Sagemcom SAS, Samsung Electronics Co. Ltd., Technicolor SA
Set-Top Box Market Characteristics
The Business Research Company offers in-depth market insights through Set-Top Box Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The set-top box market size has grown strongly in recent years. It will grow from $27.25 billion in 2023 to $29.29 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to cable and satellite tv subscriptions, demand for digital tv services, transition to hdtv and 4k content, on-demand and streaming content, technological advancements in set-top box features, global expansion of media and entertainment, consumer electronics industry growth..
The set-top box market size is expected to see strong growth in the next few years. It will grow to $40.92 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%. The growth in the forecast period can be attributed to cord-cutting and shift to ott (over-the-top) services, 5g and iot connectivity in set-top boxes, interactive and voice-controlled stbs, enhanced security and content protection, integration of gaming and multimedia features, smart home integration with stbs, sustainable and energy-efficient stbs.. Major trends in the forecast period include set-top boxes with ai assistants, edge computing and content caching in stbs, modular and upgradable stb designs, cloud-based streaming and dvr services, universal remote control apps for stbs, ultra-high-definition (uhd) and hdr content support, biometric and facial recognition for personalized content..
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Market Segmentation:
The main types of set-top boxes are cable, satellite, IPTV (OTT), and hybrid. The cable set-top box refers to converting any sort of cable television channel transmission into analog radio-frequency signals on a single VHF channel. Cable converter boxes are used to decode signals to manage a large number of carrier-controlled and access-restricted channels. The various resolutions include high-definition (HD), standard definition (SD), and ultra-HD. The service types included are pay-TV and free-to-air. These are used by residential and commercial properties and are distributed through online and offline mediums.
Major Driver - Internet And Broadband Expansion Fueling The Set-Top Box Market Growth
The rising internet and broadband penetration are expected to propel the growth of the set-top box market going forward. The Internet refers to a worldwide computer network that is used to transmit a variety of data and media across interconnected devices such as TVs, mobiles, and laptops. The Internet helps set-top boxes provide a better viewing experience and also helps the video play in good quality without buffering. For instance, in July 2023, according to the Canadian Internet Use Survey 2022 by Statistics Canada, a Canada-based government agency for national statistics, internet usage among Canadians aged 15 and older increased from 92% in 2020 to 95% in 2022. Canadians 75 years of age and older experienced the biggest increase, going from 62% in 2020 to 72% in 2022. Therefore, the rising internet and broadband penetration are driving the growth of the set-top box market.
Competitive Landscape:
Major companies operating in the set-top box market include ADB Technology Co. Ltd., Humax Co. Ltd., Sagemcom SAS, Samsung Electronics Co. Ltd., Technicolor SA, Huawei Technologies Co. Ltd., ARRIS International LLC, EchoStar Corporation, Aferian plc, CommScope Holding Company Inc., KAONMEDIA Co. Ltd., Mybox Technology Co. Ltd., Shenzhen Coship Electronics Co. Ltd., Sercomm Corporation, SEI Robotics Co. Ltd., Skyworth Group Co. Ltd., Sumitomo Electric Industries Ltd., TechniSat Digital GmbH, DISH Network Corporation, Roku Inc., Apple Inc., Vishay Intertechnology Inc., Coship Electronics Co. Ltd., Broadcom Inc., Catvision Limited, Cisco Systems Inc., Comcast Corporation, Evolution Digital LLC, Gospell Digital Technology Co. Limited, Hisense Electric Co. Ltd., Intek Digital Technology Co. Ltd., Sichuan Jiuzhou Electric Group Co. Ltd., ZTE Corporation
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Top Trend - Growing Popularity Of Hybrid Set-Top Boxes In Response To Consumer Needs
The introduction of hybrid set-top boxes has emerged as the key trend gaining popularity in the set-top box market. Major companies operating in the set-top box sector are developing unique and advanced products to provide the best services and meet consumer demand. For instance, in March 2022, GTPL Hathway, an Indian-based company providing set-top boxes and satellite services, launched a hybrid Android set-top box called GTPL Genie. The GTPL Genie set-top box is an Android-powered device based on Android TV version 9. It is manufactured by SEI Robotics and features Widevine L1 support, VP9, H.264, and H.265 (HEVC) video codecs. The set-top box also has a built-in Chromecast and Google Assistant. The GTPL Genie set-top box includes subscriptions to 13 OTT apps, namely Amazon Prime Video, Disney+ Hotstar, YouTube, SonyLIV, Zee5, Voot Select, MX Player, Eros Now, Hungama Play, Epic On, Gaana, Alt Balaji, and Shemaroo Me.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Set-Top Box Market Characteristics
3. Set-Top Box Market Trends And Strategies
4. Set-Top Box Market - Macro Economic Scenario
5. Set-Top Box Market Size And Growth
…..
27. Set-Top Box Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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