Global Set Top Boxes Market
The GMI Research forecasts that the Set Top Boxes Market is witnessing an upsurge in demand over the forecast period. This is mainly due to technological innovations led to the development of a wide range of STBs equipped with various features.
Introduction of the Set Top Boxes Market:
A set top box is a hardware device connected to a television and some external broadcasted signal source. It permits a digital signal, sent through several sources including satellite, a cable connection, and ultra-high frequency antenna among, to be received, decoded, and displayed on a television. A set-top box allows a television set to become user interface to the Internet and allows two-way communication.
Key Players of the Global Set Top Boxes Market:
- Comcast Corporation
- Huawei Technologies Co., Ltd.
- DISH Network L.L.C.
- ZTE Corporation
- Echostar Corporation
- Shenzhen Cozhou Electronics Co., Ltd.
- LG Corporation
- Technicolor SA
- Kaonmedia Co., Ltd.
- Samsung Electronics Co. Ltd.
Set Top Boxes Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
The global set up box market is contemplated to witness robust demand in the near future. The prominent drivers responsible for the market growth include the shifting preference of individuals towards the digital formats from conventional platforms, which include OTT and IPTV, the substantial augmentation in the affordability of smart television accompanied by the ongoing advancements such as the introduction of motion sensors, integration of IoT, virtual reality and artificial intelligence, enhancement of hybrid and Android STBs and voice assistant properties. In addition, the rapid digitalization of television networks, growing demand for faultless, better quality streaming, and aggravating demand of value-added services with set-top boxes like channel pack subscriptions, Video on Demand (VoD) services, HD channels, digital video recording, and interactive videos is further strengthening the market size. However, the inflated production cost and the insufficient high-speed internet and data storage infrastructure will hamper the market growth.
Service Segment Drivers
Based on type, OTT is predicted to witness a higher compound annual growth rate in the near future. This is primarily owing to the aggravating demand, including Amazon Prime Video, Hulu, and Netflix. In addition, they offer exceptional advantages such as voice-enabled remote interaction, Bluetooth Low Energy (BLE), live streaming video, and ultra-high-definition resolution, further supplementing the set up box market share.
End-User Segment Drivers
On the basis of the resolution type, ultra-HD and higher are contemplated to lead the market during the forecast period. This is because of the high-quality video content among the viewers. Moreover, the escalating knowledge about internet-based set-top boxes and the mounting purchase of ultra-high-definition TVs will supplement the market growth.
Regional Drivers
Based on the regional coverage, North America is predicted to account for the largest share in the forecast period. This is attributed to the fast development, increasing demand for high-end electronic products, and the increasing endorsement of 4K set-top boxes in the region. On the other hand, Asia-Pacific will experience a faster growth over the forecast period due to the growing consumer awareness related to the application of OTT and IPTV Set Top Boxes. Moreover, the robust prevalence of Set Top Box vendors in major economies like China and Japan has paved the way for market growth.
Set Top Boxes Market Segmentation:
Segmentation by Type
- DTH
- IPTV
- Cable
- DTT
- OTT
Segmentation by Resolution Type
- SD
- HD
- Ultra-HD and Higher
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting company that offers business sights and market research reports for every enterprise, including small & medium enterprises and large organizations. Our research team helps the clients to understand the impact of market dynamics such as market size, share, drivers, growth opportunities, and other aspects. We have a team of analysts and industry experts who conduct market intelligence studies to ensure relevant and fact-based research across a wide range of sectors such as FMCG, Technology, Energy, Healthcare, and other industries. We collect relevant information about the industry using both internal and external databases. Our main focus is to keep our clients abridged of the emerging opportunities and challenges in a wide range of industries. We provide step-by-step assistance to our client through strategic and consulting services to reach a managerial and actionable decision. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping businesses stay ahead of the curve.
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