Press release
Global Set-Top Box Market: Rising Growth, CAGR, and Key Trends Through 2024-2029
Global Set-Top Box Market
What Is The Projected Market Size Of The Global Set-Top Box Market And Its Growth Rate?
Stellar progress is expected in the global set-top box market, driven by technological advancements and evolving viewer preferences.
•2024 Market Size: $28.8 billion
•2025 Market Size: $30.73 billion (6.7% CAGR)
•2029 Market Size: $43.97 billion (9.4% CAGR)
Growth drivers include increasing cable and satellite TV subscriptions, transition to HDTV and 4K content, rapid technological developments in set-top box features, and global expansion of the media and entertainment industry. Product innovation and a shift towards more sustainable and efficient set-top boxes are expected to drive the market forward in the forecast period.
What Is Driving The Growth In The Set-Top Box Market?
Accelerating Internet and broadband penetration globally is expected to drive the growth of the set-top box market. Rising internet usage in TVs, mobiles, and laptops improves the viewing experience and enables seamless video streaming, fueling market growth. For instance, by 2026, Canada's Internet access is expected to reach 98% of the residents, with full penetration anticipated by 2030. Moreover, the International Telecommunication Union (ITU) highlighted that global internet usage reached 65% of the population in 2022, increasing to 67% in 2023. The continually rising internet and broadband penetration rates directly prop up the growth of the set-top box market.
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Who Are the Key Players Driving Set-Top Box Market Growth?
The notable players enhancing 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.
What Are The Key Trends In The Set-Top Box Market?
Major trends envisaged in the market:
•Adoption of set-top boxes with AI assistants
•Integration of edge computing and content caching in set-top boxes
•Introduction of modular and upgradable STB designs
•Shift towards cloud-based streaming and DVR services
•Development of universal remote control apps for STBs
•Support for ultra-high-definition (UHD) and HDR content
•Deployment of biometric and facial recognition for personalised content
What Are The Segments Of The Global Set-Top Box Market?
The key segments in the set-top box market are:
1) By Type: Cable, Satellite, IPTV or OTT, Hybrid
2) By Resolution: High-definition (HD), Standard Definition (SD), Ultra HD
3) By Service Type: PayTV, Free-to-Air
4) By Distribution: Online, Offline
5) By End User: Residential, Commercial
Which Region Leads The Set-Top Box Market?
Asia-Pacific held the lion's share in the set-top box market in 2024. Being home to many of the world's biggest electronics manufacturers and consumers, the region provides massive opportunities for set-top box manufacturers, thereby driving its market growth.
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What Is Covered In The Set-Top Box Market Global Market Report?
- Market Size Analysis: Analyze the Set-Top Box Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Set-Top Box Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Set-Top Box Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Set-Top Box Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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