Global Set-Top Box market segments 2024, Forecast To 2033
9 Feb, 2024
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.
Global Set-Top Box Market Key Driver
The increasing internet and broadband penetration are driving the growth of the set-top box market. In 2022, internet usage among Canadians aged 15 and older increased from 92% to 95%, as reported by Statistics Canada. This rise in penetration is expected to fuel the set-top box market in 2023, 2024, and 2028.
Get A Free Sample Of The Global Set-Top Box Market ReportGlobal Set-Top Box Market Segments
The global set-top box market covered in this report is segmented –
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
By Geography: The regions covered in the Set-Top Box market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
Asia-Pacificwas the largest region in the set top box market in 2023. The regions covered in the set-top box market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Major Set-Top Box Industry Players
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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Set-Top Box Market Overview
A set-top box is a hardware device that receives, decodes, and displays digital signals on a television. The signal, which might be either television or Internet data, is received by cable or telephone. The set-top box might deliver more channels than the television's native channel numbering system and choose the channel a user wanted to watch from a slew of signals that included data for a variety of channels. It is used for TV sets to receive and decode digital television (DTV) broadcasts and are also used for the conversion of analog television sets to receive digital broadcasts.
Set-Top Box Global Market Report 2023 provides data on the global set-top box market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The set-top box market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.