San Francisco, 31 December 2018: The Report Set Top Box (STB) Market Analysis By Product (IPTV, Satellite, Cable, DTT,
OTT), By Content Quality (SD, HD, 4K), By Region (U.S., Canada, Germany, UK,
China, Japan, Mexico, Brazil) & Segment Forecasts, 2018 - 2024
According to a report
published by Grand View Research, Inc.; the global Set Top Box (STB) market is
expected to attain a valuation of around USD 29.78 billion by 2024. Mandatory
digitization of television and rapid innovation in digital broadcast
technologies are projected to propel the market. Ever-rising demand for greater
audio and video contents can further drive the market during the forecast
period (2014 to 2024). Additionally, migration from analog to digital TV is
also projected to impel the demand for set top box.
Strong rise in popularity of smart televisions and High Definition (HD)
channels are supporting the market growth. Introduction of technologically
advanced products such as OLED TVs, 4K UHD TVs, and 3D smart interactive TVs among
others are expected to boost the adoption of set top box during the forecast period.
Increasing demand for interactive digital entertainment services is also
expected to create impressive business opportunities in the market. However,
high cost of subscription associated with pay channels may restrict adoption of
HD and 4K STBs, especially in developing countries such as Brazil, China, and
India.
Access Research Report of Set Top Box Market@ www.grandviewresearch.com/industry-analysis/the-global-set-top-box-market
The worldwide Set Top Box (STB)
market is segmented on the basis of product, content quality, and region. Based
on product, the market is categorized into Internet Protocol Television (IPTV),
satellite, cable, Digital Terrestrial Television (DTT), and Over-The-Top (OTT).
The DTT segment led with market share of over 25% in terms of revenue in 2015. The
satellite segment is likely to exhibit notable growth during the forecast
period. These set top boxes are visually appealing and have advanced user
interface. This factor is anticipated to impel demand in near future. Growing
adoption of Direct-To-Home (DTH) satellite STBs is expected to further boost
the growth during the forecast period.
As per content quality, the STB
market is split into Standard Definition (SD), High Definition (HD), and Ultra-High
Definition (UHD)/4K. The HD segment occupied over 60% of total market share in
terms of volume and revenue in the past. The segment is anticipated to continue
witnessing similar growth over the forecast period owing to rising replacement
of conventional SD devices with HD devices.
The HD STBS can offer improved
resolution of video content transmission with over 1080p and surround sound
audio. Over the past few years, these devices have gained significant popularity
among viewers. Rising focus of various leading sports and motion picture
production companies on producing HD content is also anticipated to bode well
for the market growth. The SD segment is expected to witness gradual decline during
the forecast period. TV channel operators find it difficult and expensive to downgrade
content to make it available for SD set top boxes.
Browse more reports of this category by
Grand View Research at: www.grandviewresearch.com/industry/digital-media
Geographically, the market can
be divided into North America, Europe, Asia Pacific, Latin America, and Middle
East and Africa. Asia Pacific led with almost 45% of the total market share in
2015. The region is projected to continue leading during the forecast period.
Factors such as high adoption of technologically advanced products and
improving standard of living can be accredited to the regional growth. In
addition, stern government regulations regarding cable digitization can further
drive the regional market.
North America is likely to
display reasonable growth during the forecast period. Popularity of 4K TVs is
anticipated to bode well for regional expansion of the market in the
forthcoming years. Additionally, presence of strong competition among Internet Service
Providers (ISP) are also expected to drive demand for 4K set top boxes. Launch
of UHD channels is also expected to fuel the market in near future.
Key companies operating in the
Set Top Box (STB) market include Cisco Systems, Inc.; Samsung Electronics
Limited; Amazon.com, Inc.; Huawei Technologies Co. Ltd.; and Amazon.com, Inc. Vendors
focus on improving storage space to augment the caching of personal video
recordings and data broadcastings in the contemporary STB devices.
Adoption of advanced remote
control-less mobile-controlled TV operating systems using interfaces made
available by Roku, Firefox, and Google is one of the latest trends. Service
providers are introducing UHD and 3D STBs compatible with 4K and 3D TVs to gain
traction in global market. Infrastructure providers engage in strategic
alliances with software and content providers to deliver quality interactive
content.
Access
Press Release of Set Top Box Market@ www.grandviewresearch.com/press-release/set-top-box-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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