Selbyville, Delaware, Feb. 07, 2021 (GLOBE NEWSWIRE) --
According to latest report “Set-Top Box Market by Type (Cable, Satellite, IPTV/OTT, Hybrid), Recording (DVR, Non-DVR), Sales Channel (Online, Offline), End-Use (Commercial, Residential), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027”, by Global Market Insights, Inc., the market valuation of set-top box will cross $21 billion by 2027. The market is anticipated to display high growth owing to the increasing penetration of digital TVs across the globe. The introduction of ultra HD and 4K set-top boxes for digital TVs is driving the market expansion.
The COVID-19 health crisis has significantly impacted the growth of the market during the first quarter of 2020. Government restrictions on movement during the first half of 2020 have resulted in a gradual reduction in set-top box sales, hampering the market value. However, with the economic revival, the industry will witness substantial growth by 2021.
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The hybrid segment in the set-top box market is projected to observe a high growth rate due to the increasing requirements for better video quality and a combination of OTT applications with cable & satellite TVs. Industry players are engaged in offering advanced hybrid TV boxes to meet the changing consumer demands. The current trend among TV service providers of providing hybrid set-top boxes that offer TV programs and OTT applications will support the market demand over the forecast period.
The Europe set-top box market size will showcase significant growth through 2027 on account of the rapid increase in commercial infrastructural development in the economies including the UK, Germany, and France. The positive outlook of the travel and tourism industry has encouraged the construction of new hotels. A strong presence of hotel industry players, such as Hilton Group and Courtyard Group, will generate lucrative growth opportunities for set-top box service providers to expand their business operations in European region.
Major companies operating in the market are TechniSat Digital GmbH, Sercomm Corporation, Samsung Electronics, Kaon Media Co., Ltd., Mybox Technologies Pvt. Ltd., Technicolor SA, and ADB Global. These leaders are focusing on launching new products to enhance their product offerings.
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Some major findings in the set-top box market report include:
- Growing demand for hybrid set-top boxes with internet-based and satellite broadcasting capabilities is supporting the market revenue.
- The DVR segment will register a steady growth rate led by its ability to be able to record TV shows as per user convenience and watch them at a later time.
- The presence of several leading market participants coupled with the increasing adoption of set-top boxes in the residential sector is augmenting the market share in Asia Pacific and Latin America region.
- Rising investments in the expansion of commercial infrastructure including hotels and offices across the globe are spurring the demand for technologically advanced set-top boxes.
Table of Contents (ToC) of the report:
Chapter 3 Set-Top Box Market Insights
3.1 Industry segmentation
3.2 Impact of COVID-19 on set-top box industry landscape
3.2.1 Global outlook
3.2.2 Regional impact
3.2.3 Industry value chain
3.2.3.1 Research & development
3.2.3.2 Manufacturing
3.2.3.3 Marketing
3.2.3.4 Supply
3.2.4 Competitive landscape
3.2.4.1 Strategy
3.2.4.2 Distribution network
3.2.4.3 Business growth
3.3 Industry ecosystem analysis
3.3.1 Component suppliers
3.3.2 Technology providers
3.3.3 Manufacturers
3.3.4 End use landscape
3.3.5 Distribution channel analysis
3.3.6 Vendor matrix
3.4 Technology & innovation landscape
3.5 Regulatory landscape
3.6 Industry impact forces
3.6.1 Growth drivers
3.6.2 Industry pitfalls & challenges
3.7 Growth potential analysis
3.8 Porter's analysis
3.9 PESTEL analysis
Browse Complete Table of Contents (ToC) @
https://www.gminsights.com/toc/detail/set-top-box-market
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.