Smart Set-Top Box and Dongle Market Size, Share and Value 2032

Smart Set-top Box And Dongle Industry Prospective:

The global smart set-top box and dongle market size was worth around USD 32.18 billion in 2023 and is predicted to grow to around USD 69.60 billion by 2032, with a compound annual growth rate (CAGR) of roughly 8.95% between 2024 and 2032.

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Smart Set-top Box And Dongle Market: Overview

A smart set-top box is a modern device that can convert any television set into a smart version. The set-top box, when connected to a television, allows access to watch over-the-top (OTT) and satellite content.

Thus, viewers can access video-streaming platforms such as Netflix, Amazon Prime, and others when the television is connected to a set-top box via the internet.

On the other hand, a smart dongle is a more compact device with features similar to a set-top box but with limitations. For instance, smart dongles can connect to the HDMI port of a television, but the features offered are relatively less than a set-top box.

The demand for smart dongles is led by their cost-effectiveness. The industry for smart set-top boxes and dongles is expected to register a significant growth rate during the projection period due to the rising number of consumer electronics users across the globe.

The use of smart set-top boxes across hospitality centers such as hotels and restaurants will further prove beneficial to the smart set-top box and dongle industry.

However, market players can expect tough competition from other emerging video and audio-telecasting solutions such as laptops and tablets. Additionally, the technical limitations of set-top boxes and dongles will further restrict the market’s expansion trend.

Key Insights:

• As per the analysis shared by our research analyst, the global smart set-top box and dongle market is estimated to grow annually at a CAGR of around 8.95% over the forecast period (2024-2032)
• In terms of revenue, the global smart set-top box and dongle market size was valued at around USD 32.18 billion in 2023 and is projected to reach USD 69.60 billion by 2032.
• The smart set-top box and dongle market is projected to grow at a significant rate due to the growing number of OTT content viewers globally.
• Based on feature, the Android operating system segment is growing at a high rate and will continue to dominate the global market, as per industry projections.
• Based on video quality, the full HD segment is anticipated to command the largest market share.
• Based on region, North America is projected to dominate the global market during the forecast period.

Smart Set-top Box And Dongle Market: Growth Drivers

Growing number of OTT content viewers globally will drive the market demand rate

The global smart set-top box and dongle market is projected to be driven by the rising number of over-the-top content viewers across the globe. In the last decade, satellite television shows have witnessed a considerable drop in viewership. This trend is due to a large portion of the viewers switching to over-the-top content across multiple streaming platforms.

Brands such as Amazon Prime, Netflix, Hotstar, and other regional OTT content providers allow access to multiple entertainment programs under one roof. In addition to this, over-the-top platforms are especially considered advantageous in the case of viewing global content.

According to recent statistics, Netflix has around 283 million paid viewers globally. Every year, the brand is registering new customers.

Older televisions are not equipped on their own to leverage the internet and telecast content on video-streaming platforms other than satellite.

However, this is made possible using smart set-top boxes or dongles. Since these technologies are designed to convert traditional television sets into smarter versions.

As the popularity of OTT content grows, the demand for feature-rich step-top boxes or dongles is likely to register higher growth.

Growing use of the technologies in the hospitality industry will further provide benefits to the industry

Players in the global hospitality sectors, such as hotels, restaurants, and other forms of accommodation providers, have registered an increase in expenditure related to customer comfort. One primary means of achieving higher customer satisfaction is providing access to entertainment facilities.

Smart dongles or set-top boxes are installed across rooms and lounging areas in small-scale or large-scale accommodation units.

In addition, the introduction of Ultra High Definition (UHD) content requiring ancillary technologies, such as 4K-enabling dongles or set-top boxes, will be influential in shaping the industry’s expansion trend.

The global smart set-top box and dongle market can benefit from the rising investments in 5G internet, which will promote a better viewing experience for consumers.

Smart Set-top Box And Dongle Market: Restraints

Competition from alternate technologies to limit the industry’s expansion period

The global smart set-top box and dongle industry is expected to be restricted due to the high competition faced by alternate technologies. Smart set-top boxes convert conventional television sets into smarter versions.

However, consumers are willing to make a one-time investment in smart televisions that do not require set-top boxes to provide internet-based content.

Moreover, OTT platforms can be viewed on portable consumer electronics such as smartphones, tablets, and laptops, further fragmenting the potential consumer group for the smart dongle or set-top box industry.

Smart Set-top Box And Dongle Market: Opportunities

Rising rate of innovation and product development will generate expansion possibilities for the industry players

The global smart set-top box and dongle market is projected to generate growth opportunities due to the growing rate of product innovation.

The novel offerings offer highly advanced features such as integration with machine learning (ML) and artificial intelligence (AI) capabilities, extensive support for High Dynamic Range (HDR) formats, and options to convert to faster internet, such as Wi-Fi 6.

In August 2024, at the Reliance Annual General Meet (AGM), the Indian-origin multinational company announced the launch of JioTV+ and JioTV OS. The latter is a software platform powering the JioTV Set Top Box with 4K HDR support.

In October 2024, SEI Robotics, a leading end-to-end solutions provider for smart home Internet of Things (IoT) and Android TV, announced a strategic partnership with DishTV India Limited, a giant in the Indian content distribution industry.

The companies have partnered to launch  Dish TV Smart+ Box which will work as a combination of Dolby Atmos, Android TV, and HOMA TV by SEI. The partnership is expected to improve content delivery and streaming experience for the viewers. Similarly, innovations in terms of smart dongles will further the industry's growth rate in the long run.

Smart Set-top Box And Dongle Market: Challenges

Technical limitations of the technologies will challenge the market expansion trends

The global industry for smart set-top boxes and dongles will witness challenges due to the several technical limitations of the devices.

For instance, older televisions are not equipped to handle the latest high-feature set-top boxes. Television sets become slower and may not respond to the latest updates impacting the viewing experience.

Additionally, the growing concerns over the use of illegally downloaded streaming applications through hacked set-top boxes or dongles is a major cause of concern for the industry players.

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Smart Set-top Box And Dongle Market: Segmentation

The global smart set-top box and dongle market is segmented based on features, product, video quality, and region.

Based on the feature, the global market segments are the Android operating system, Linux operating system, memory, and others.

In 2023, the highest growth was witnessed in the Android operating system segment since it is the most common and easy-to-use setup with higher versatility.

Moreover, Android operating systems are compatible with a wider range of applications and allow opportunities to customize as per industry demands.

According to industry-related findings, around 270.01 million devices are currently active on Google TV and Android TV operating systems.

Based on the product, the global smart set-top box and dongle industry is divided into dongle and smart set-top box.

Based on the video quality, the global smart set-top box and dongle market segments are UHD 4K and Full HD. In 2023, the highest revenue was generated in the full HD segment led by the wider availability of the video quality type at present times.

Full high definition (HD) quality is relatively as cost-effective as UHD 4K. The latter, however, is registering a sharp increase in demand due to changing consumer demand. The average cost of a UHD 4K smart set-top box can range between USD 60 to USD 210.

Smart Set-top Box And Dongle Market: Report Scope

Smart Set-top Box And Dongle Market: Regional Analysis

North America to register the highest growth rate during the projection period

The global smart set-top box and dongle market is expected to witness the highest growth in North America. The presence of major companies offering advanced versions of smart set-top boxes and dongles across the US and Canada regions is driving regional revenue.

The North American market is dominated by companies such as Apple, Google, Roku, Amazon, TiVo, and others. In October 2024, T-Mobile US announced the launch of a commercially available 5G RedCap device, thus becoming the first company in the North American market to achieve this feat. It consists of a Universal Serial Bus (USB) device providing low-cost access to 5G standalone (SA) networks.

In September 2024, Amlogic, a dominant player in the fabless semiconductor sector, announced a partnership with SEI Robotics.

The companies have together launched the X5M Dongle with Low Complexity Enhancement Video Coding (LCEVC) technology. X5M Dongle is expected to help operations not only improve video quality but also optimize bandwidth application.

The presence of a growing consumer group in North America, along with increased research-backed innovations, will be crucial to regional market expansion in the coming years.

Smart Set-top Box And Dongle Market: Competitive Analysis

The global smart set-top box and dongle market is led by players like:

• Samsung
• Apple
• Netgem
• Amazon
• Arris (CommScope)
• Microsoft
• Google
• Sagemcom
• Roku
• Skyworth
• Xiaomi
• ZTE
• NVIDIA
• Humax
• Sony

The global smart set-top box and dongle market is segmented as follows:

By Feature

• Android Operating System
• Linux Operating System
• Memory
• Others

By Product

• Dongle
• Smart Set-top Box

By Video Quality

• UHD 4K
• Full HD

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa