Market Highlights
The digitization drive carried on by governments is expected to catalyze the adoption of set-top boxes over the next couple of years. The report offered by Market Research Future (MRFR) also highlights the fact that the global set-top box market is set to remain highly lucrative in the years to come. It asserts that the market is anticipated to reach USD 26,630.4 Mn mark by 2023, reflecting a CAGR of 7.2% across the assessment period (2017 to 2023). Increasing purchasing power owing to the economic development being observed in the global front is expected to lead the expansion of the market in the forthcoming years.
The rising demand for over the top (OTT) services is anticipated to provide impetus to the proliferation of the set-top box market in the years to come. Increasing awareness about the higher picture quality is also poised to fuel the shift to set-top boxes across the projection period. Also, increasing demand for HD channels is likely to influence the consumer preferences in favor of the set-top box market in the nearby future.
The rising affordability of the service is a primary factor for attracting a larger consumer base. With the key players emphasizing on the pricing policies, revenue growth can be expected in the set-top box market over the next couple of years.
Segmentation:
By Product Type, the global set-top box market has been segmented into digital terrestrial television, satellite, internet protocol TV, over-the-top content, cable, and others.
By Content Quality, the set-top box market has been segmented into standard definition, high definition, and 4K.
By service, the global set-top box market has been bifurcated into managed services (repairing, testing, and screening), interaction services (high-speed internet television, video on demand, and video conferencing).
By end-user, the set-top box market has been divided into residential, and commercial.
Regional Analysis:
The geographical evaluation of the global set-top box market is segmented across North America, Asia Pacific (APAC), Europe, and the Rest of the World (RoW). Asia Pacific help a significant share of the market in 2017, which accounted for 39.52% share. It is assessed to exhibit a CAGR of 8.8% through the forecast period. Factors such as the adoption of AR & VR realities, increasing purchasing power, rising penetration of the regional market, etc. are likely to catapult the set-top box market on upward trajectory in the region. China and Indonesia are anticipated to contribute prominently to the expansion of the market in the region over the next few years.
Competitive Dashboard:
Apple Inc., Huawei Technologies Co. Ltd., Google LLC, ARRIS International plc., Samsung Group, EchoStar Corporation, Technicolor SA, Sagemcom SAS, Skyworth Digital Holdings Limited, Vishay Intertechnology, Inc., and Kaonmedia Co, Ltd. are some of the major players operating in the global set-top box market. The landscape of the market encompasses several service providers on regional, national, as well as international levels. Also, new entrants are expected to enter the set-top box market in the upcoming years owing to rapid developments. Growth strategies such as pricing policies, partnerships, mergers & acquisitions, product innovation, value-added services, collaborations, etc. are anticipated to be executed by the market participants to strengthen their market positions. Some of the latest developments taken place in the global set-top box market are –
In July 2019, Indian company Reliance Jio is working on the launch of 4 k set-top box alongside GigaFiber and Giga TV.
In July 2019, Netflix, an American media-services production company, has entered into a deal with AT & T, an American multinational conglomerate, to integrate the application in the Android TV-based set-top box set to be launched by the latter.
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