The global Set Top Box (STB) market size was estimated at USD 17.14 billion in 2015 and is anticipated to reach USD 29.78 billion by 2024. The market is expected to witness significant demand over the forecast period on account increasing penetration of High Definition (HD) channels among consumers and the rising adoption of smart TVs.
Increased
the storage space in modern Set Top Box (STB) devices to enable caching of data
broadcasts and improved personal video recording. Increasing demand for
high-quality picture and sound coupled technological advancements are
anticipated to fuel the Set Top Box (STB) market over the forecast period. Key
players in the market include digital satellite providers, cable providers and
telecommunication companies. Major infrastructural providers are undertaking
strategic partnerships and mergers with content and software providers on
account of increased need for better interactive content. This has enabled
seamless interactive content for consumers. Major infrastructure providers include
Ericsson, SysMaster, Cisco, IBM and Elitecore.
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Regional
content for the rural consumers and higher volume of 3D content creation for
urban consumers as a result of digitization is expected to augment market
growth. Further, it is expected to fuel demand for HD and 3D TV sets. Consumers
are accessing high-quality picture and sound and installing set-top boxes and
with the digitization of cable. The TV screens are getting bigger and better
thereby making SD quality undesirable for a high-quality viewing experience.
The
global market is anticipated to present considerable opportunities for market
growth over the forecast with the rise of innovative products including, 4K UHD
TVs, 3D smart interactive TVs and OLED TVs, years. These devices enable users
to access HD quality video content on their HD-ready TV sets.
Technologically-advanced TV sets and increased demand for smart TVs among the
global population is gradually increasing the need to access innovative
features.
Manufacturers
provides several variants including cable-based, IPTV, satellite, Digital
Terrestrial Television (DTT) and Over the Top (OTT). In 2014, DTT is
anticipated to remain the leading set-top box system over the forecast period,
which accounted over 25% of the global industry. Satellite system sends signals
received by satellite version and converts it into analog format for viewing on
TV sets. Consumers require the subscription to a particular satellite pay-TV
operator to use satellite STBs.
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Emergence
of quality standards coupled with the computational capabilities of devices to
meet increasing consumer expectations have resulted in the growth of STB market
globally. Migration from DOCSIS 3.0 to advanced DSL standards including
vectoring and G. fast coupled with the proliferation of technology, is
anticipated to offer opportunities for market growth.
Global
STB industry was dominated by High Definition (HD) Set Top Box (STB) devices
and is expected to replace the traditional Standard Definition (SD) devices
from 2016 to 2024. HD devices are projected to constitute over 60% of the
overall industry revenue share in 2014.
High-quality
sound output and HD transmission devices provide high resolution (over 1080p)
of video content transmission. Therefore, these technologies have gained
increased preference among TV users over the past few years. Service providers
are introducing 3D and Ultra HD (UHD) STB devices compatible with 4K and 3D
televisions and are gaining momentum in the market.
North
America is anticipated to experience growing demand for Internet Protocol TV
(IPTV) STBs on account of rising high-speed broadband infrastructural support
and the customizable features it offers to its users. In line with the energy
efficiency concerns, producers are inventing new methods to add a lower sleep
type mode that is available in several consumer electronics similar personal
computers.
The
regional market for STBs is expected to grow at a CAGR nearly 2.5% from 2016 to
2024 primarily driven by the rise in the sales of low-cost cable, DTT and
satellite DTT. The Asia Pacific STB industry is expected experience rapid
growth owing to encouraging government mandates and growing consumer adoption
in the region. Increase in the overall sales of such products has resulted from
declining prices of TV sets. Key market players include Amazon, ADB, Cisco,
Echostar, Coship, Huawei, Samsung, HUMAX, Technicolor and Skyworth. Vendors are
focusing on product differentiation and integrating supplementary features in
their products.
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