Pune, India, Aug. 11, 2021 (GLOBE NEWSWIRE) --
The global set-top box market size is anticipated to observe substantial growth rate during the forecast period, as the need to have more options of entertainment has grown by many folds in recent years across the world. The number of Direct-to-Home (DTH) subscribers has seen an upward trend in the past few years and is expected grow more in the future with the rise in television viewership in many regions.
Rapid internet penetration has positively impacted the demand for set-top box services in APAC. A rising number of people are switching to smartphones that are now offering them the same kind of entertainment as TV sets. Many set-top box service providers are currently focusing on enhancing their delivery of services and plan to expand their portfolio.
Some of the key trends that will expand the scope of set-top box market are illustrated below:
COVID-19 effect on Asia Pacific market:
Asia Pacific set-top box market is expected to be valued at more than $9 billion by 2027. The regional industry was slightly affected by the COVID-19 pandemic during the initial stages. Many regional governments placed strict lockdowns and restrictions on the movement of goods and people from one place to the other. All forms of transportation like airways and railways were closed to contain the spread of the virus. These factors created a lot of disturbance in the supply chain networks of this market and caused many delays in the production of electronic components like set-top boxes and their deployment across commercial and residential users.
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Many people lost their jobs during this trying phase, which had an indirect impact on the demand for set-top box installations as the number of people paying for the subscription went down to some extent. Rise in the percentage of unemployment affected the transportation of satellites, cable, and Internet Protocol Television (IPTV) set-top boxes in the first half of 2020.
However, now that the pandemic effect has slowed down to a great extent, a steady rise in the number of set-top box installations is expected in the future.
Favorable APAC government policies will boost set-top box market demand:
Governments across Asia Pacific are introducing favorable policies and schemes to encourage more people to install set-top box systems in their homes. Many authorities in the region have made the setting up of set-top boxes a mandatory rule. For example, the Telecom Authority of India (TRAI), in April 2020, announced that the installation of interoperable set-top boxes was mandatory.
The interoperability feature of these systems will help users to avail the services of different DTH providers without changing their set-top box. This will enhance the services offered by cable TV operators.
Hybrid set-top box witnesses sound progress in Asia Pacific:
Cable, satellite, hybrid, and IPTV/OTT are the popular types of set-top box systems adopted by end-users. Among them, hybrid set-top boxes will witness significant progress in APAC region over the forthcoming years because of high demand for virtual entertainment mediums on television sets.
This type of set-top box supports both broadcasting and IP-based video features, enabling users to watch internet videos as well as cable-based programs. In March 2020, Dish TV-owned D2H introduced a hybrid set-top box in collaboration with Android TV by Google. This system will be able to provide both OTT and DTH connection to the user.
Next gen set-top boxes gain momentum in Europe:
Europe set-top box market size will reach $5 billion by 2027. Set-top boxes will witness notable upgrade in their functioning because many companies across the region are implementing advanced technologies to improve the efficiency of these systems. These high-end technologies can fulfill all kinds of customer demands, thereby enhancing their viewing experience.
Virgin Media UK, in November 2020, introduced its Next Gen TV 360 platform and set-top boxes having advanced features like HDR and 4K. It will allow users to access different kinds of content and channels from home or any place that has a strong Wi-Fi or internet connection. It includes two set-top boxes that can be used for personal video recording and have a variety of features like video-on demand, voice search and seamless television viewing experience.
Access sample pages of the report, “Europe Set-top Box Market Forecasts 2027” in detail along with the table of contents (ToC) @
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Europe commercial sector has strong demand for set-top boxes:
Both commercial and residential sectors adopt set-top boxes for varied reasons. Commercial sector will extensively foster the demand for set-top boxes in Europe. The hospitality sector across the region is going through rapid infrastructure upgrade which is positively impacting the demand for set-top boxes in the regional resorts and hotels. The sector is expanding at a fast pace across many countries in Europe, further raising the demand for the product.
Strong presence of entertainment giants in Europe:
Set-top box market will gain momentum in Europe because of the presence of entertainment giants like Netflix, Amazon, Disney+Hotstar and BBC iPlayer. More and more people are turning to these video streaming leaders for entertainment. DTH service providers are upgrading the existing technologies in their set-top box systems by including advanced features like OTT access, high-quality pictures, digital video recording, storage options and greater sound quality. Android set-top boxes are gaining momentum in their demand among customers in Europe as they have in-built streaming services from the above-mentioned video streaming service providers.
North America attracts demand for satellite set-top boxes:
North America set-top box market is anticipated to reach more than $3.5 billion in value by 2027. Satellite set-top boxes will gain high demand among end users in North America. These systems provide great viewing resolution to the viewers. They can help viewers stream a variety of standard and high-definition digital programs at affordable rates. There are many technological advancements being incorporated in these set-top boxes like digital video recording, more than 100 hours of viewing memory, customized menu, parental controls, and advanced search functions. All these features will accelerate the demand for satellite set-top boxes in the region.
Access sample pages of the report, “North America Set-top Box Market Forecasts 2027” in detail along with the table of contents (ToC) @
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DVR set-top boxes sustain consumer preference in North America:
DVR set-top boxes are expected to keep growing in demand across North America, thanks to the advanced features offered by the systems like real-time program recording, video-on-demand, and virtual program guide. TV service providers like Verizon, Airtel and Tata Sky are providing DVR set-top boxes which can pre-record shows and videos for a later time. These set-top box systems offer great convenience while navigating through different features, making them a preferred product choice among customers.
Consistently growing access to more content like the latest films and major sporting events will keep the scope of set-top-boxes to the maximum. Besides residential users, commercial facilities like hotels and even healthcare providers are among the key drivers being the product adoption, considering the number of people they cater to daily. Increasing availability of products with internet access and high-resolution quality will foster market trends.
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