Global set-top box market exploring future growth and trends by 2021-2027
A detailed analysis of the set-top box market is entailed in this research report. The driving forces responsible for propelling the growth graph of this vertical in addition to the regional and competitive trends are mentioned in the study. A comprehensive document comprising details about vital parameters such as the industry ecosystem analysis, market segmentation, and the vendor matrix, the market report also contains information on the pivotal industry insights for core players to look out for.
With the advent of new technologies in broadcasting industry such as digital TVs coupled with growing demand for enhanced TV viewing experience, global set-top box market is anticipated to gain massive momentum over the upcoming years. Set-top box is a device that enables TV set to receive and decode Digital TV broadcasts and is widely used by the viewers who wish to use their analog TV sets to receive digital broadcasts. With further advancements such as introduction of 4K STBs and ultra HD for digital TVs, installation of set top boxes has increased significantly which is providing lucrative growth prospects for the industry.
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In terms of segmentation by type, the global set-top box market from the hybrid segment is projected to account for a considerable share in the coming years, which is attributable to the product’s ability to meet high demand for enhanced video quality, along with over-the-top (OTT) applications with satellite and cable TVs.
In January 2020, Tata Sky launched its smart set-top box service, Tata Sky Binge+, in a bid to compete against the Xstream set-top box of Airtel, JioFiber of Reliance, and Dish SMRT Hub of Dish TV. The product, equipped with Google Assistant-based voice search, has been designed to offer an OTT video streaming service to users.
Companies functioning in this market are also engaging in various innovative product development activities to launch advanced hybrid TV cable boxes and meet the changing demands from customers, leading to the expansion of the segment. TV service providers are also aware of the trends including high preference for hybrid set-top boxes that provide TV programs & OTT applications.
Based on recording, the DVR segment is likely to expand at an appreciable rate over the forthcoming years, as a consequence of its capability to record television shows according to the convenience of the users. With regards to the application spectrum, the set-top box market in Latin America and Asia Pacific from the residential segment is set to register high revenue in years to come, as a result of the increasing product penetration, alongside the presence of the leading market participants.
Mounting disruptions in the supply chain caused by the ongoing COVID-19 pandemic may remain a key concern for the industry players. Governments worldwide imposed lockdown during the 1st half of 2020 to reduce the virus spread, asserting a negative impact on STBs business. Despite these short-term setbacks and downturns, the steady economic growth across the globe will stimulate industry outlook over the coming years.
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Regionally, set-top box market across the Europe is estimated to record a meritorious growth over time owing to the increasing product demand due to commercial infrastructural development across the UK and France, along with the expanding travel and tourism industry in the region has led to increased construction of new hotels and with the strong presence of hospitality industry players including Hilton Group and Courtyard Group, the regional market is witnessing a robust growth.
Major Key Points from Table of Content:
Chapter 5 Set-top Box Market, By Type
5.1 Key trends, by type
5.2 Cable
5.2.1 Market estimates and forecast, 2017 – 2027
5.3 Satellite
5.3.1 Market estimates and forecast, 2017 – 2027
5.4 IPTV/OTT
5.4.1 Market estimates and forecast, 2017 – 2027
5.5 Hybrid
5.5.1 Market estimates and forecast, 2017 – 2027
Chapter 6 Set-Top Box Market, By Recording
6.1 Key trends, by recording
6.2 DVR
6.2.1 Market estimates and forecast, 2017 - 2027
6.3 Non-DVR
6.3.1 Market estimates and forecast, 2017 – 2027
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