Set-Top Box Market is Set to Experience a Significant Growth Rate by 2028

By Ronak Bora

The set-top box market is anticipated to exhibit sturdy expansion by 2028 due to growing digitalization and internet penetration across key regions.
Historically, and throughout the course of the pandemic, the television has played an essential role in bringing the latest of news, and entertainment to people all over the world. It continues to be one of the primary sources of information for a large population of the world. The prevailing demand for TV services has attracted significant investments by TV broadcasting companies to improve the viewer experience, which has augmented industry uptake in recent years.
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Industry players have been engaging in profitable strategies to tap into emerging trends in the market, thereby enhancing the overall business landscape. For instance, in December 2021, Shenzhen Skyworth Digital Technologies Co., Ltd., a leading manufacturer of digital television products, inked its partnership with Amlogic, Inc., a prominent fabless semiconductor company, and Netflix, a global OTT platform.
Under the deal, Skyworth and Amlogic have agreed to develop a Netflix-Ready Fast-Track Platform for RDK Set-Top Boxes, to provide operators with a Netflix-enabled product that can drastically reduce engineering costs.
The set-top box market has been segmented on the basis of end-use, type, sales channel, recording, and region.
In terms of type, the market has further been classified into hybrid, cable, IPTV/OTT, and satellite. The hybrid sub-segment is expected to showcase exponential expansion through the assessment period. The ability of hybrid STBs to provide OTT and Tv broadcasting services is likely to accelerate product adoption over the forthcoming years.
From the recording point of view, the set-top box industry has been categorized into non-DVR and DVR. The non-DVR sub-segment is projected to amass substantial gains by 2028, owing to its widespread availability and low cost.
With respect to sales channel, the set-top box market has been bifurcated into offline and online. The online sub-segment is slated to reach a notable valuation by 2028, developing at a CAGR of around 4.5% over the analysis period. The online distribution channel offers a wide variety and low prices, which is set to propel segmental growth through 2022-2028.
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Based on end-use, the market has been divided into commercial and residential. The set-top box market from the residential sub-segment is speculated to progress at a robust pace through the forecast timeline. This growth is attributed to the growing population and urbanization across the world.
On the regional front, the North America set-top box industry is poised to gain significant traction, registering a CAGR of more than 2.5% through the review period. Stringent government initiatives mandating cable TV's digitalization and surging demand for OTT platforms are estimated to foster regional market expansion.
Table of Contents (ToC) of the report:
Chapter 1   Methodology and Scope
1.1    Definitions & forecast parameters
1.1.1    Definitions
1.1.2    Methodology and forecast parameters
1.1.3    Region-wise COVID-19 impact
1.1.3.1    North America
1.1.3.2    Europe
1.1.3.3    Asia Pacific
1.1.3.4    Latin America
1.1.3.5    MEA
1.2    Data Sources
1.2.1    Secondary
1.2.2    Primary
Chapter 2   Executive Summary
2.1    Set-top box market 360° synopsis, 2018 – 2028
2.1.1    Business trends
2.1.2    Type trends
2.1.3    Recording trends
2.1.4    Sales channel trends
2.1.5    End-use trends
2.1.6    Regional trends
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About Author

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport....

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