Set-Top Boxes Market is Expected to be Valued at US$24 bn by 2022

A new report added to the repository of Market Research Reports Search Engine “Set-Top Boxes Market (By Type - Cable Set-Top Boxes, Satellite Set-Top Boxes, IPTV Set-Top Boxes and HBB Set-Top Boxes; By Video Quality - Standard Definition Set-Top Boxes and High Definition Set-Top Boxes) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2022” is a comprehensive repository of information, providing market share, size, and forecast.                             

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The two biggest advantages that set-top box manufacturers possess against conventional cable services is the ability to provide a greater variety of channels and to broadcast HD and ultra-HD channels. In the near future, increasingly digitized set-top box services coupled with highly interactive features are expected to be added, increasing the appeal of set-top boxes to consumers. This will serve as a primary driver for all set-top box manufacturers across the globe.

Another concept currently in high demand is the hybrid set-top box, which is a combination of internet-based TV services and satellite-based HD services. The hybrid set-top boxes are expected to help TV channel providers assume a better competitive role against internet-based OTT providers.

Combining all the above drivers, along with other influential factors such as the restraint due to OTT service providers and the opportunities that HEVC decoders can provide to set-top boxes, its global market is expected to progress at a CAGR of 6.4% from 2015 to 2022. This market is expected to be valued at US$16.6 bn in 2016 and US$24 bn by 2022.

IT and Industrial Growth in APAC Allows Better Scope for Set-top Box Companies

The rapid rates of industrialization in most Asia Pacific countries is allowing users to possess stronger purchasing capabilities, providing a wide array of regional opportunities for set-top box companies to grow. Additionally, the growth of the IT industry is helping create a better internet services infrastructure which can allow users to stream videos on demand at affordable prices. Coupled with the high population density, Asia Pacific can be a highly lucrative avenues for set-top box players in the near future.

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Australia, China, and India already hold a massive base of internet users. The growing use of improved internet services along with the proliferation of smart TVs and IPTVs in this region will allow Asia Pacific to show the fastest growth rate in set-top box demand in the near future.

Users Continue to Prefer HD Set-top Boxes, Demand 4K Channels

The proliferation of HD services has been highly successful in developed economies so far, with the release of a wide choice of HD TVs and HD channels. This makes it easier for a lot of set-top box providers to access these regions. As for the emerging economies from Asia Pacific, Latin America, and the Middle East and Africa, the demand for HD viewing services is rapidly on the rise. The resultant spread of HD services across these regions and the standardization of broadcasting services has created much more favorable grounds for set-top box providers to focus on.

Additionally, the imminent commercialization of the HEVC standard for set-top boxes is expected to negate the biggest issues that services providers have with 4K video data transmission: data decoding. The HEVC-enables set-top boxes are expected to enhance the speed at which 4K video can get decoded, thereby enabling a smoother 4K experience for users in a market where the demand for it is very high.

The key players in the global set-top boxes market include Pace PLC, Cisco Systems. Inc., ARRIS Group, Inc., Samsung Electronics Co. Ltd., Technicolor SA, and Echostar Corporation.

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