According to the recent study the set top box market is projected to reach an estimated $XX billion by 2027 from $XX billion in 2022, at a CAGR of 3% to 5% from 2022 to 2027. Growth in this market is primarily driven by rising internet and broadband penetration, growing preference for HD channels, increasing consumer disposable incomes, and growing spending capacity of consumers.
Browse 107 figures / charts and 68 tables in this 205 -page report to understand trends, opportunities and forecast in set top box market by product type (IPTV, satellite, cable, DTT, and OTT), content quality (high definition, standard definition and 4K), services (managed services and interaction services), end-use industry (residential and commercial) and region (North America, Europe, Asia Pacific, and the Rest of the World).
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“Cable market is expected to remain the largest segment during the forecast period.”
Based on product type, the set top box market is segmented into IPTV, satellite, cable, DTT, and OTT. Lucintel forecasts that the cable market is expected to remain the largest segment due to its affordability over the other types of STBs, and its wired connection helps to avoid the adverse effects of the high-frequency waves on the user’s body which occurs in case of other types.
“Within the set top box market, the residential segment is expected to remain the largest end-use industry”
Based on end-use industry the residential segment is expected to witness the highest growth over the forecast period due to increasing demand of the television sets among the households and residences which is likely to increase the consumption of the STB products.
“Asia pacific will dominate the set top box market in near future”
APAC will remain the largest region due to rising consumption of media and entertainment content especially by the middle-class population across the region, and growing public awareness of technologically advanced goods, as well as the benefits they provide in terms of quality, functionality, and economical price compared to traditional set-top boxes.
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Major players of set top box market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Advanced Digital Broadcast SA, Amino Technologies Plc, Commscope Inc. (Arris), HUMAX Co. Ltd., Kaon Media Co. Ltd., Sagemcom Broadband SAS, Samsung Electronics, Sercomm Corporation, Sumitomo Electric Industries Ltd., Technicolor SA are among the major set top box providers. This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/set-top-box-market.aspx or [email protected]