Dublin, March 20, 2024 (GLOBE NEWSWIRE) -- The "4K Set-Top Box Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
Emerging Trends and Demand for Smart TVs Drive Global 4K Set-Top Box Market Expansion
This research in the 4K Set-Top Box market sector reveals a significant surge in market size, reflecting a progressive growth trajectory from $6.32 billion in 2023 to an anticipated $6.71 billion in 2024. With a robust compound annual growth rate (CAGR) of 6.1%, the industry demonstrates the burgeoning demand for high-tech home entertainment solutions and the adoption of ultra-high-definition technologies. The upsurge in the market growth over the previous period spotlights multiple dynamics, including the rapid acceptance of 4K technology among content providers, the burgeoning availability of 4K content, the digital broadcasting transition, consumer preferences for superior viewing experiences, and the integration of 4K technology within smart TVs.
4K Set-Top Box Market to Reach New Heights with Enhanced Technology and Smart Home Integration
The forecast period through 2028 is marked by a projected market size increase to $8.75 billion at a 6.9% CAGR. Such growth is spurred by the continuous advancement in set-top box technology, the proliferation of smarter, more affordable units, their synthesis with intelligent home systems, and diverse offerings from content providers. These factors contribute to an evolving landscape, replete with trending elements such as content personalization, connectivity improvements, seamless integration with smart home ecosystems, and the fusion of gaming and entertainment functionalities.
Ongoing trends denote a shift towards smart TV demand which significantly fuels the market's momentum. Smart TVs, with their interactive capabilities akin to online services, often come with built-in or external 4K set-top boxes, enabling users to access streaming services of high-resolution content and drastically enhance their viewing experiences.
Broadband Network Growth Elevates 4K Set-Top Box Adoption
Furthermore, the expansion of broadband networks emerges as a crucial catalyst propelling the 4K set-top box market forward. Robust broadband infrastructures ensure that the necessary high-speed internet access for streaming and enjoying 4K content is universally accessible, paving the way for the broader adoption and success of 4K set-top boxes.
Major market participants are at the forefront of technical innovation, developing state-of-the-art products like mesh networks for internet streaming and Android-based set-top boxes to meet customer demand and to enhance sales and revenue. For instance, the collaboration between ZTE Corporation and Amlogic led to the launch of a groundbreaking 4K Wi-Fi 6 mesh media gateway set-top box.
Key Developments and Strategic Acquisitions Reshaping the Competitive Landscape
In a strategic move, Telstra Group Limited's acquisition of a majority share in Fetch TV underscores the competitive realignments within the industry, strengthening its position in the home entertainment segment.
- North America Leads in Market Share with Asia-Pacific Projected as the Fastest-Growing Region
- 4K Set-Top Box Market Sees Diverse Product Types Ranging from IPTV to OTT and Hybrid Boxes
- Applications Span Residential to Commercial, Catalyzing Market Penetration Across Various Settings
The 4k set-top box market research report provides a thorough analysis of the industry, offering insights into the present and anticipated future scenarios. It serves as an indispensable resource for stakeholders seeking to understand market dynamics, regional performance, competitive landscapes, and the plethora of factors influencing the market's growth trajectory.
The report elaborates on the widespread utilization of these devices in both residential and commercial contexts and the multifaceted distribution channels available, highlighting the comprehensive reach and versatility of the 4K set-top box market.
A selection of companies mentioned in this report includes:
- Roku Inc.
- Infomir Group
- Huawei Technologies Co. Ltd.
- Humax electricals Pvt. Ltd.
- DISH Network Corporation
- Tata Play Limited
- Zhongxing Telecommunication Equipment Corporation
- EchoStar Corporation
- Apple Inc.
- Skyworth Group Co. Ltd.
- AT&T Inc.
- Inspur Group
- Broadcom Inc.
- Gospell Digital Technology Co. Ltd.
- Evolution Digital LLC
- Amazon.com Inc.
- Arion Technology Ltd.
- Kaonmedia Co. Ltd.
- Technicolor SA
- Airtel
- Sagemcom
- MaxLinear Inc.
- TechniSat Digital GmbH
- Samsung Electronics Co. Ltd.
- LG Electronics Inc.
- Cisco Systems Inc.
- Pace plc
- Arris Group Inc.
- Motorola Mobility LLC
- Netgem
- ABOX42 GmbH
- Amino Communications
For more information about this report visit https://www.researchandmarkets.com/r/dyezi
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