New York, NY, Sept. 11, 2023 (GLOBE NEWSWIRE) -- Polaris Market Research has published a new research report titled “Set Top Box Market Share, Size, Trends, Industry Analysis Report, By Product (IPTV, OTT); By Content Quality (HD & Full HD, 4K & Above); By Distribution Channel; By Application; By Operating System; By Region, And Segment Forecasts, 2023 - 2032” in its research database.
“As per the latest research analysis, the global set top box market size/share will be valued at roughly USD 23.41 Billion in 2022, and its revenue is projected to reach about USD 32.46 Billion By 2032. The market is forecasted to expand at a compound annual growth rate of approximately 3.3% between 2023 and 2032.”
Global Set Top Box Market: Report Overview
Accessing on-demand digital entertainment, such as your favorite TV series and movies, is ideal. Especially if you have a high-definition television, this is the purpose of a set-top box. A set-top box (STB) is a machine that acquires and translates a television signal or Internet data before broadcasting it on a screen or other display. The STB is widely used in television, cable, over-the-air (OTA), and satellite systems.
In addition to providing consumers with an uninterrupted TV viewing experience, it enables them to record television shows and carry out complicated tasks like home networking, video-on-demand, internet protocol (IP) telephony, and video conferencing. Also, the set top box market is positively impacted by shifting customer behavior towards consuming media content via the Internet and television, especially considering ongoing changes in the digital TV domain.
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Our Sample Report Covers:
- 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
- 110+ Pages Research Report (Inclusion of Updated Research).
- Provide Chapter-wise guidance on Requests.
- 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of tables & figures.
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.
Some of the Top Market Leaders Are:
- Advance Digital Broadcast
- Commscope
- Coship Electronics
- Echostar Corporation
- Huawei Technologies
- KaonMedia
- LG CNS
- Sagemcom
- Samsung Electronics
- Technicolor
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Recent Developments
- ADB debuted Cheetah, a cutting-edge Wi-Fi 7 gateway based on multi-gigabit XGS-PON technology, in February 2023. This advanced gateway integrates Wi-Fi 7's fundamental characteristics, including Preamble Puncturing, an ultra-wide 320MHz channel, 4k-QAM modulation, and Multi-Link Operation.
Set Top Box Market: Report Scope
| Report Attribute | Details |
| Revenue Forecast in 2032 | USD 32.46 Billion |
| Market size value in 2023 | USD 24.13 Billion |
| Expected CAGR Growth | 3.3% from 2023 – 2032 |
| Base Year | 2022 |
| Forecast Year | 2023 – 2032 |
| Top Market Players | Advance Digital Broadcast, Commscope, Coship Electronics, Echostar Corporation, Huawei Technologies, KaonMedia, LG CNS, Sagemcom, Samsung Electronics, Technicolor |
| Segments Covered | By Product, By Content Quality, Distribution Channel, By Application, By Operating System, By Region |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
Prominent Growth Driving Factors
- Increased adoption of digital technologies: The COVID-19 epidemic profoundly affected the media sector, causing a change in the media environment and a rise in the use of digital technology. Market participants adapted to these shifts by adopting advanced technology and displacing conventional settings. For example, in March 2022, KAONMEDIA and 3 Screen Solutions worked together to provide new TV services in Scandinavia utilizing the Android TV set-top box KAON BCM72180 PVR, which supports OTT, DTH satellite and IPTV.
- Enhanced and personalized user experience: Android set top boxes (STBs) are in high demand because of their capacity to deliver a more individualized and better user experience. THESE STBS PROVIDE the TV Input Framework (TVIF), a sophisticated app environment, and even video conferencing capabilities. The set top box market demand is also being fueled by the availability of numerous connectivity choices, including Ethernet, Wi-Fi, Bluetooth, and HDMI.
Top Findings of the Report
- The market is benefiting from the increased use of broadband and the Internet and the rising popularity of high-definition (HD) channels and on-demand video services. Together, these elements support the market's expansion.
- The set top box market segmentation is primarily based on content quality, product, application, distribution channel, region, and operating system.
- Asia Pacific dominated the market in 2022.
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Top Trends Influencing the Market
- Advanced technologies: These most recent STB models differ from traditional set-top boxes due to the integration of innovative technologies like voice-activated remote controls, Bluetooth Low Energy (BLE), and support for 4K, Full HD, and 8K resolutions, which increases the potential for the set top box market growth throughout the forecast period.
- Introducing new offers: DISH Network revealed a new promotion in November 2022 to attract more loyal consumers. Customers would not be subject to any price hikes during the predetermined period thanks to the offer's subscription price locking on 3-year agreements. This tactical choice was made to give clients price stability and encourage them to sign up for lengthy subscription contracts.
Segmental Analysis
- The OTT Sector Accounts for the Largest Share
The main reason for the largest share of OTT is the constant technology developments that allow broadcasters to offer better sound and high-resolution picture quality. OTT platforms provide several improved benefits, such as streamlined payment processes, a shorter time to content, and the option to watch material conveniently. The popularity of OTT services like Netflix, Amazon Prime Video, Hulu, Hotstar, Disney+, and others is also helping to fuel the expansion of this market.
Moreover, governmental requirements for cable digitization and the benefits of cable TV, such as expanded channel capacity, fuel the need for cable STBs. Numerous cable service providers are improving their technology and offerings because they understand that cable TV is a popular platform.
- HD and Full HD Sector Holds Significant Revenue Share
The HD & full HD categories held the largest market share. These STBs are in greater demand because they offer access to more channels than their 4K counterparts. Due to their improved sound and picture quality and accessibility to premium channels, these STBs are progressively displacing conventional SD boxes.
Furthermore, the 4K and higher sector is anticipated to develop at the highest rate. The increased demand for the sharp picture quality and high-resolution content these STBs offer drives the segment's rise. Additionally, the supportive regulatory environment, which encourages the installation of set top boxes and big-scale digitization projects in many countries, will fuel the expansion of the set-top box market size.
- Linux Sector Holds the Significant Revenue Share
The Linux market sector had most of the set top box market share. This significant percentage might be due to the benefits of Linux's open-source nature, which enables manufacturers to save costs through simplified implementation. Furthermore, the extremely adaptable nature of the Linux OS is anticipated to encourage manufacturers to adopt it so they may create set top boxes with customized innovative features to draw customers.
Additionally, the Android category is expected to grow at the fastest rate. Due to the ease with which these platforms' applications can be downloaded and used on set-top boxes with Android operating systems, this growth can be ascribed to the rising popularity of OTT and video-sharing services.
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Geographical Overview
Asia Pacific: Asia Pacific dominated the market. This can be linked to rising media and entertainment content consumption, especially among the region's middle-class population. The rising need is producing profitable market prospects for technologically improved solutions that provide excellent functionality, quality, and affordability. Leading companies like Kaonmedia & Huawei technology are aggressively incorporating the newest technology, such as motion sensors, Bluetooth, and Virtual Reality, into their products to take advantage of these prospects.
North America: The set top box market in North America is comparatively developed, and its usage among households is very strong. Emerging Internet-based set-top boxes, such as OTT platforms and IPTV, which provide configurable configurations and high-quality video and audio content, have a substantial presence in the region. Additionally, the market is growing due to the rising popularity of OTT services like Amazon Prime and Netflix.
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The Report Answers Questions Such As
- How big is the market size of the set top box?
- At what CAGR rate is the set top box market expected to grow during the forecast period?
- Which factors are driving the market growth?
- Why is the demand for set top boxes increasing?
- Who are the set top box market key players dealing in the industry?
- Which segments are holding the largest market share?
- Which region is dominating the market?
Polaris Market Research has segmented the set top box market report based on product, content quality, distribution channel, application, operating system, and region:
By Product Outlook
- IPTV
- Satellite
- Cable
- DTT
- OTT
By Content Quality Outlook
- HD & Full HD
- 4K and Above
By Distribution Channel Outlook
- Offline
- Online
By Application Outlook
- Residential
- Commercial
By Operating System Outlook
- Android
- Linux
- Others
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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