Global demand for set-top box market was valued at approximately USD 19.4 billion in 2018 and is expected to generate revenue of around USD 25.8 billion by end of 2025, growing at a CAGR of around 4.2% between 2019 and 2025.
Set-Top Box Market
The report covers forecast and analysis for the set-top box market on a global and regional level. The study provides historic data from 2015 to 2018 along with a forecast from 2019 to 2025 based on revenue (USD Billion) and volume (K Units). The study includes drivers and restraints for the set-top box along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities and various trends in the set-top box market on a global level.
As per the report, the global demand for set-top box market was valued at approximately USD 19.4 billion in 2018 and is expected to generate revenue of around USD 25.8 billion by end of 2025, growing at a CAGR of around 4.2% between 2019 and 2025.
Rising demand for satellite television and its connected set-top box has become a trend. The emergence of set-top box threatened to entirely stop the twenty year old monopoly of cable operators. It was clear since then that the set-top boxes will become an essential part of house entertainment packages in the near future. The disappointment in service standard of cable operators led people to switch from satellite television along with set-top boxes. However, the traditional set-top box is under threat from competing with connected devices such as media streamers, smart TVs, and games console. All these devices can provide access to content from a variety of sources. In order to gain a technological advantage, new features are added to set top boxes such as SVoD and voice services.
The set-top box market is bifurcated on the basis of product, technology, application, and region. The product segment is divided into IPTV, satellite, cable, DTT, and OTT. The satellite segment holds a considerable market share due to the rising demand in Asia Pacific region.
On the basis of technology, the set-top box is bifurcated into SD, HD, and 4K. The 4K segment is anticipated to grow at a considerable rate over the estimated timeframe. Based on application, the market is further segmented into residential and commercial. The residential segment is estimated to hold a substantial share of market over the coming years.
Based on region, Europe is projected to grow at a notable rate over the forecast period. The transition to high definition has been one of the major media technology spending drivers in Europe. The convergence of OTT video services with IPTV and shift of cable operators to IPTV service platforms are two drivers contributing to the growth of set-top box market in Europe. The set-top box market in Europe is dominated by the Western European Countries such as Belgium, France, Germany, and Spain, owing to the higher broadband penetration and better infrastructure. Moreover, European digital cable industry is expected to grow faster, due to the rising demand for high speed broadband services.
North America is anticipated to witness a substantial growth and hold the largest market share in the near future. Canada and the United States are expected to boost the set-top box market in the region owing to the presence of renowned market players such as Apple Inc., Arris International Plc., and EchoStar Corporation, among others. United States is also leading the North America set-top box market due to the increasing demand for high-speed communication and hybrid set-top boxes. Rising demand for BS digital broadcasting and digital terrestrial television is accelerating the growth of set-top box market in North America. With steep decline in the usage of native application and a considerable shift towards app-based multi-screen and Over-the-Top (OTT) streaming experiences, the set-top box market is likely to witness immense growth over the forecast period.
Some of the key players in the set-top box market include Altech Multimedia (Pty) Ltd. (Altech UEC), Shenzhen Jiuzhou Electric Co., Ltd., Aventsecurity, Coship Electronics Co., Ltd., Arris International, plc, Echostar Corporation, LG CNS Co., Ltd., Humax, and Huawei, among others.
Global Set-Top Box Market: Product Segment Analysis
Global Set-Top Box Market: Technology Segment Analysis
Global Set-Top Box Market: Application Segment Analysis
Zion Market Research
Tel: +1 (302) 444-0166
USA/Canada Toll Free No.+1 (855) 465-4651
Mrunal Paradise, Opp Maharaja Hotel,
Pimple Gurav, Pune 411061,
Phone No +91 7768 006 007, +91 7768 006 008
US OFFICE NO +1 (302) 444-0166
US/CAN TOLL FREE +1 (855) 465-4651
We have secured system to process your transaction.
Our support available to help you 24 hours a day, five days a week.
Monday - Friday: 9AM - 6PM
Saturday - Sunday: Closed