In this report, Technavio covers the market outlook and growth prospects of the global set-top box (STB) market for 2016-2020. By product type, this market is segmented to cable, satellite, IPTV and hybrid STB markets.
Cable networks are undergoing digitization as network operators want to keep track of the exact number of subscribers and the reception to the content being aired. In countries like India and China, this move has prevented signal tapping and maintained transparency in money transfers. STBs, along with digitizing television also pave way for better picture quality at lower costs.
Technavio’s research study segments the global STB market into the following regions:
APAC: biggest STB market
“APAC accounted for 47% of the global STB market and 55% of global television shipments in 2015. With digitization of television being mandated by populous countries like India and China, the market witnessed significant growth. China achieved 100% digitization in 2015, while India is expected to achieve the same by the end of 2016,” says Ujjwal Doshi, one of the lead analysts at Technavio for consumer electronics research.
The penetration of high definition (HD) STBs is relatively slow in the region. The slow adoption of HD STBs in the rapidly digitizing region will lead to a very slow decline in the market. Even though China and India account for most number of STBs, they have basic sets, despite having sufficient infrastructure for HD broadcasts. Two countries that will show growth in the forecast period are South Korea and Japan, as they are experiencing high rate of penetration of ultra-high definition (UHD) STBs.
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The STB market in EMEA was valued at USD 4.95 billion in 2015. The build-in storage STB market in this region is influenced by Western European markets experiencing market saturation. In comparison, markets in Eastern Europe and the Middle East are experiencing rapid growth. The vendors in the market are quickly catching up to keep up with the growing demand.
The Middle East and Africa, which had witnessed the lowest digital penetration rates, are now digitizing their TVs. This is expected to drive the growth of the STB market in the countries during the forecast period. Though the penetration of advanced STBs like IPTV and hybrid STBs in the Middle East and Africa will be slow, the growth of the market will be driven by the increase in the number of governments mandating digitization.
“The market in the Americas is heavily influenced by North America, which accounts for nearly 70% of the market in the region. The region is one of the fastest adopters of the latest technologies like STB because of the high average disposable income. Although the STB market is currently saturated in the region, it will gain momentum as UHD STBs gain more prominence in the market. The UHD STB segment is set to witness tremendous growth after 2018”, says Ujjwal.
The satellite STB segment is the leading segment in North America. Countries in South America are experiencing steady market growth owing to the increase in digitization. With the Government of Brazil announcing the purchase of 14 million STBs, the STB market is expected to experience significant growth in the future. South American countries are likely to register a positive CAGR in the forecast period in this market.
The top vendors in the global STB market highlighted in the report are:
- ARRIS Group
- Huawei Technologies
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