DUBLIN--(BUSINESS WIRE)--The "Set Top Box Market Size, Share & Trends Analysis Report by Product, by Content Quality, by Region, and Segment Forecasts, 2020-2027" report has been added to ResearchAndMarkets.com's offering.
The global set top box market demand is expected to reach 341.1 million units by 2027, registering a CAGR of over 4% from 2020 to 2027.
Increasing digitization of television networks coupled with technological advancements within the digital broadcasting arena are some of the crucial factors positively influencing the market. Additionally, consumer demand for high-definition channels as well as value-added services, such as subscription packages, is anticipated to create significant demand in the coming years.
The demand for set top boxes (STBs) has risen drastically in recent years due to improved television experience, such as digital video recording, storage options, as well as enhanced sound and picture quality. As a result, digital satellite providers, cable providers, and telecommunication companies are actively promoting the installation of STBs. Initiatives taken by various government authorities across emerging economies to mandate digitization of traditional cable network are predicted to boost the market for set top box in near future.
Increasing adoption of hybrid and Android STBs owing to the rising popularity of OTT platforms is anticipated to drive the overall set top box market. OTT tends to offer attractive and engaging content leading to an enhanced user experience. OTT STBs are gaining prominence across Pay TV broadcasting arena in emerging markets where abundant free video content is available, and service providers are looking to bundle live streaming video with their broadband offerings.
- Vendors, such as DirecTV, are offering 4K UHD set-top box in an attempt to gain a competitive edge and are thereby pushing other vendors to bring in their own versions
- Government bodies in the North American countries have implemented various laws pertaining to content generation and installation of STBs, thereby escalating the revenue generation across the region
- Rising consumer awareness regarding internet-enabled STBs, such as IPTV and OTT, coupled with the development of high-speed broadband infrastructure in emerging economies is expected to boost the product demand
- Few market incumbents are incorporating OTT platforms, such as Netflix, Amazon Prime, and Hulu in STBs in order to maximize their presence in the marketplace
- Key Players include in the set top box market are Samsung Electronics Limited, Huawei Technologies Co. Ltd, Cisco Systems, Inc, Technicolor, HUMAX Co. Ltd, EchoStar Corporation, Skyworth Group, Amazon.com, Inc, Coship Electronics Co. Ltd, and ADB Global.
List of Companies Mentioned
- Advance Digital Broadcast (ADB)
- Altech Multimedia (Pty) Ltd. (Altech UEC)
- Arris International, plc
- Coship Electronics Co. Ltd.
- Echostar Corporation
- Shenzhen Jiuzhou Electric Co. Ltd.
- LG CNS Co. Ltd.
- Sagemcom SAS
- Samsung Electronics Co. Ltd.
- Sky plc
- Technicolor S.A.
- TechniSat Digital GmbH
- Topfield Co. Ltd.
- Zinwell Corporation
For more information about this report visit https://www.researchandmarkets.com/r/ut7n7g