Set-Top Box Market Research Report- Forecast till 2023
According to Market Research Future (MRFR), the global set-top box market is estimated to hit a size of USD 26,630.4 million with a CAGR of 7.2% from 2017 to 2023 (forecast period). The report provides a precise description of the impact analysis of the Covid-19 by applications and regions.
The set-top box is a device that makes it easier for the TV set to become a user interface to the Internet and equips the TV set to access and decode digital television (DTV) broadcasts.
The use of a set-top box has been widespread in recent years. Various factors are related to the upsurge of the set-top box market. In addition, the growing affordability of smart TV, combined with the rapid expansion of HD channels, also affects market development. The rise of over-the-top (OTT) services allowed viewers to access the content of their choice without paying any additional cost. Such factors have a favorable effect on the set-top box market.
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The global market for set-top box has been segmented into product type, content quality, services, and end-user.
By product type, the global market for set-top box has been segmented into Internet Protocol (IP) TV, Over-The-Top Content (OTT), digital terrestrial television, satellite, cable, and others. The segment for satellites accounted for 27.8% in 2017, with a market value of USD 4.884.1 million. The segment is anticipated to experience healthy CAGR during the forecast period. The set-top box is an essential part of modern satellite television installations. The segment of satellites is projected to remain highly competitive in 2019 and beyond.
By content quality, the global market for set-top box has been segmented into high definition, standard definition, and 4K. In 2017, the high definition segment accounted for 41.5% of the market share in terms of value. The segment is anticipated to exhibit a CAGR of 5.8% during the assessment period. More set-top boxes are coming with high definition capacity. This is mainly due to the superior picture quality and sound quality of HD content.
By services, the global market for set-top box has been segmented into managed services (testing, repairing, screening), video conferencing, interactive services (video on demand, and high-speed internet television). The segment for interactive services accounted for 62.25% of the market share in 2017, along with a valuation of USD 10.956.7 million. In addition, the segment is projected to achieve a CAGR of 8.4% during the forecast period.
By the end-user, the global market for set-top box has been segmented into commercial and residential. The residential segment accounted for 75.90% in 2017, with a valuation of USD 13.358 million. This can be ascribed to the widespread residential use of the set-top box. Over the projected period, the residential segment will continue to outperform the commercial segment.
The global market for set-top box has been segmented into North America, Europe, Asia Pacific, and the rest of the world.
The Asia Pacific is expected to spearhead the global set-top box market during the forecast period. Asia Pacific accounted for 39.52% of its market share in 2017 and is estimated to have a CAGR of 8.8% over 2023. Factors such as the widespread adoption of virtual and augmented reality (VR & AR), IoT integration, and rising per capita income boost the growth of the Asia Pacific set-top box industry. At the same time, growing viewership in countries like India, China, and Indonesia boosts the set-top box market in the region. Policy reforms and advances in the telecom sector are also important factors that increase investor’s confidence in the Asia Pacific.
Huawei Technologies Co. Ltd., Apple Inc., Samsung Group, Google LLC, ARRIS International plc., Skyworth Digital Holdings Limited, EchoStar Corporation, Sagemcom SAS, Kaonmedia Co, Ltd., Technicolor SA, Vishay Intertechnology, Inc.
The global set-top box market is characterized by many service providers, some of which operate at a regional level and others at a national level. Market players are actively focusing on advancing their service offerings to remain competitive and to strengthen their market position.
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Set-Top Box Market: By Product Type (Internet Protocol TV, Digital Terrestrial Television, Satellite, Cable, Over-The-Top Content, and Others), By Content Quality (High Definition, Standard Definition and 4K. By Service [Managed Services (Testing, Repairing, Screening), Interaction Services (Video on Demand, High-Speed Internet Television and Video Conferencing)], By End-User – Commercial and Residential, and Region – Forecast Till 2023
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