The growth of the cable TV segment has seen rapid growth in the recent years, which has indirectly contributed to the expansion of the set top box market as well. Focused market reports connected to the semiconductors and electronics sector among others lately have been made available by Market Research Future which publishes a report on this sector. The set top box industry is anticipated to develop at a 6 percent CAGR while achieving revenues worth USD 31.67 billion approximately by the year 2023.
Increasing demand for of 4K TVs is expected to provide support to the growth of the set-top box market one major factor driving the growth of set-top box market. Also, growing demand for IPTV is another major factor responsible for fuelling the market growth. Technological advancements and growing acceptance of standard protocols for lighting control is boosting the growth of set-top box market. Also, increasing demand for set-top box from various end users like residential, and commercial is another major factor driving the market growth. The set-top box market is highly competitive due to the increase in demand for digital terrestrial television and developments in the field of internet of things. On the other hand, domestic production and availability of low-cost products are major factors hindering the growth of set-top box market. Also, security and privacy issues are other factors that may hamper the market growth.
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Major Key Players
Apple Inc. (U.S.),
Google Inc. (U.S.),
Arris International Plc. (U.S.),
EchoStar Corporation (U.S.),
Samsung Group (South Korea),
Huawei Technologies Co. Ltd. (China),
Technicolor SA (France), and Skyworth Digital (China) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Set-top Box Market.
According to MRFR, The global Set-Top Box Market is growing rapidly over 6% of CAGR and is expected to reach at USD 31 Billion by the end of forecast period.
North America is expected to witness a significant growth and hold the largest market share during the forecast period. U.S and Canada are anticipated to drive the growth of the set-top box market in North America owing to the presence of a large number of established key players such as Apple Inc., Google Inc., Arris International Plc. And EchoStar Corporation among others. Also, U.S. is leading the market in North America due to the rising demand for hybrid set-top boxes and high-speed communication.
The region wise analysis of set-top box industry includes region such as North America, Asia Pacific, Europe and Rest of the World. The North American region is one of the important regions in the world in terms of market portion in the set-top box market owing to growing demand of hybrid set-top box which is boosting the market growth. The set-top box industry in the European region is anticipated to observe rapid growth in the approaching period. Whereas, the Asia-Pacific region which includes countries like India, China and Japan and is a developing market for set-top box industry and is estimated to be the highest CAGR generator in the forecast period.
Competitors who are a part of the industry have devised their corporate strategy blueprint in a way that that can bring the best outcomes for development in the current scenario, while also simultaneously delivering customer value unfailingly. The ability to sustain their competitive edge is one of the main causes fuelling their efforts in this period. The scope for development in the industry appears to be promising through the forecast period. The rising interest for diversification in the industry, has indirectly allowed the players to utilize many prospects available in the industry. This scenario has created opportunities for portfolio improvements along with diversification in the sector, which has improved the scenario for market competitors tremendously in this industry. The organizations in this industry are also trying to enhance and maintain financial liquidity that can be crucial to invest in growth opportunities as and when they become available.
Segmentation by Type: Comprises of Cable, Satellite, Digital Terrestrial Television, Internet Protocol, Over-The-Top Content (OTT) and Others
Segmentation by Content Resolution: Comprises of Secure Digital (SD), High Definition (HD), 4K and Others
Segmentation by Application: Comprises of Residential Use and Commercial Use
Segmentation by Region: Comprises of Geographical regions – North America, Europe, Asia Pacific and Rest of the World.
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- Set-top box companies
- Set-top box providers
- Professional service providers
- Research and development companies
- Market research and consulting firms
- Solution providers
- Technology standards organizations
- Technology investors
- System Integrators
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