Set Top Box Market Size Is Projected To Touch $29.78 Billion By 2024: Grand View Research, Inc.

November 12 13:06 2018

Grand View Research, Inc. – Market Research And Consulting.
The global Set Top Box (STB) market size is anticipated to reach USD 29.78 billion by 2024, according to report by Grand View Research, Inc. Mandatory digitization of television and rapid innovation in digital broadcast technologies are projected to propel the market.

According to a report published by Grand View Research, Inc.; the global Set Top Box (STB) market is expected to attain a valuation of around USD 29.78 billion by 2024. Mandatory digitization of television and rapid innovation in digital broadcast technologies are projected to propel the market. Ever-rising demand for greater audio and video contents can further drive the market during the forecast period (2014 to 2024). Additionally, migration from analog to digital TV is also projected to impel the demand for set top box.

Strong rise in popularity  of smart televisions and High Definition (HD) channels are supporting the market growth. Introduction of technologically advanced products such as OLED TVs, 4K UHD TVs, and 3D smart interactive TVs among others are expected to boost the adoption of set top box during the forecast period. Increasing demand for interactive digital entertainment services is also expected to create impressive business opportunities in the market. However, high cost of subscription associated with pay channels may restrict adoption of HD and 4K STBs, especially in developing countries such as Brazil, China, and India.

The worldwide Set Top Box (STB) market is segmented on the basis of product, content quality, and region. Based on product, the market is categorized into Internet Protocol Television (IPTV), satellite, cable, Digital Terrestrial Television (DTT), and Over-The-Top (OTT). The DTT segment led with market share of over 25% in terms of revenue in 2015. The satellite segment is likely to exhibit notable growth during the forecast period. These set top boxes are visually appealing and have advanced user interface. This factor is anticipated to impel demand in near future. Growing adoption of Direct-To-Home (DTH) satellite STBs is expected to further boost the growth during the forecast period.

Full Research Report On Set Top Box (STB) Market Analysis: www.grandviewresearch.com/industry-analysis/the-global-set-top-box-market

U.S. STB market by content quality, 2014 – 2024 (USD Million)

U.S. STB market by content quality, 2014 - 2024 (USD Million)

As per content quality, the STB market is split into Standard Definition (SD), High Definition (HD), and Ultra-High Definition (UHD)/4K. The HD segment occupied over 60% of total market share in terms of volume and revenue in the past. The segment is anticipated to continue witnessing similar growth over the forecast period owing to rising replacement of conventional SD devices with HD devices.

The HD STBS can offer improved resolution of video content transmission with over 1080p and surround sound audio. Over the past few years, these devices have gained significant popularity among viewers. Rising focus of various leading sports and motion picture production companies on producing HD content is also anticipated to bode well for the market growth. The SD segment is expected to witness gradual decline during the forecast period. TV channel operators find it difficult and expensive to downgrade content to make it available for SD set top boxes.

Browse More Reports Of This Category By Grand View Research At: www.grandviewresearch.com/industry/digital-media

Global STB market by product, 2015

Global STB market by product, 2015

Geographically, the market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Asia Pacific led with almost 45% of the total market share in 2015. The region is projected to continue leading during the forecast period. Factors such as high adoption of technologically advanced products and improving standard of living can be accredited to the regional growth. In addition, stern government regulations regarding cable digitization can further drive the regional market.

North America is likely to display reasonable growth during the forecast period. Popularity of 4K TVs is anticipated to bode well for regional expansion of the market in the forthcoming years. Additionally, presence of strong competition among Internet Service Providers (ISP) are also expected to drive demand for 4K set top boxes. Launch of UHD channels is also expected to fuel the market in near future.

Key companies operating in the Set Top Box (STB) market include Cisco Systems, Inc.; Samsung Electronics Limited; Amazon.com, Inc.; Huawei Technologies Co. Ltd.; and Amazon.com, Inc. Vendors focus on improving storage space to augment the caching of personal video recordings and data broadcastings in the contemporary STB devices.

Adoption of advanced remote control-less mobile-controlled TV operating systems using interfaces made available by Roku, Firefox, and Google is one of the latest trends. Service providers are introducing UHD and 3D STBs compatible with 4K and 3D TVs to gain traction in global market. Infrastructure providers engage in strategic alliances with software and content providers to deliver quality interactive content.

Grand View Research has segmented the Set Top Box (STB) market based on product, content quality, and region.

Global Product Outlook (Volume, Thousand Units; Revenue, USD Million; 2014 – 2024)

  • IPTV

  • Satellite

  • Cable

  • DTT

  • OTT

Global Content Quality Outlook (Volume, Thousand Units; Revenue, USD Million; 2014 – 2024)

  • SD Set Top Box

  • HD Set Top Box

  • 4K Set Top Box

Regional Outlook (Volume, Thousand Units; Revenue, USD Million; 2014 – 2024)

  • North America

    • U.S.

    • Canada

  • Europe

    • UK

    • Germany

  • Asia Pacific

    • China

    • India

    • Japan

  • Latin America

    • Brazil

    • Mexico

  • MEA

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About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For more information: www.grandviewresearch.com

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