Set-Top Boxes (STB) Market to Reach $31.8 Billion, Globally, by 2032 at 4.2% CAGR: Allied Market Research
Wilmington, Delaware, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Set-Top Boxes (STB) Market by Technology (Satellite, IPTV, Cable and Others), Resolution (SD, HD, UHD, 4k and Others), Distribution Channel (Offline and Online), and Application (Residential and Commercial): Global Opportunity Analysis and Industry Forecast, 2024-2032". According to the report, the set-top boxes (Stb) market was valued at $22.1 billion in 2023, and is estimated to reach $31.8 billion by 2032, growing at a CAGR of 4.2% from 2024 to 2032.
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- 152 -Tables
- 64 -Charts
- 250 -Pages
Prime Determinants of Growth
The global Set-Top Box (STB) market has experienced growth due to the rise in popularity of Over-the-Top (OTT) streaming services, video-on-demand (VOD) platforms, and internet-based content. However, competition from streaming services serves as a significant restraint for market growth to some extent. Moreover, the integration of STBs with smart home ecosystems and Internet of Things (IoT) platforms presents significant growth opportunities for the expansion of the global Set-Top Box (STB) market.
Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2024–2032 |
| Base Year | 2023 |
| Market Size in 2023 | $22.1 billion |
| Market Size in 2032 | $31.8 billion |
| CAGR | 4.2% |
| No. of Pages in Report | 250 |
| Segments Covered | Technology, Resolution, Distribution Channel, Application, and Region. |
| Drivers |
|
| Opportunities |
|
| Restraint |
|
Segment Highlights
By technology, the Satellite/DTH segment accounted for more than half of the market share due to the widespread availability and accessibility of satellite broadcasting infrastructure that enable seamless distribution of television signals to a vast audience, overcoming geographical limitations and reaching remote or underserved areas. Moreover, the Satellite/DTH technology offers a diverse range of channels and content options, including high-definition (HD) and 4K programming, sports events, movies, and international channels, catering to diverse consumer preferences and interests.
By resolution, the HD segment held the highest market share in 2023, accounting for nearly half of the Set-Top Box (STB) market Share due to the increasing consumer demand for superior viewing experiences, characterized by sharper images, vibrant colors, and immersive audio, is propelling the adoption of HD STBs. The HD resolution offers significantly enhanced picture quality compared to standard definition (SD) , making it the preferred choice for consumers seeking a more engaging entertainment experience.
On the basis of distribution channel, offline channel has the highest market share in 2023, as the offline channel offers personalized assistance from sales representatives, allowing consumers to make informed purchase decisions and receive immediate support for installation and troubleshooting. Moreover, the offline channel facilitates hands-on product demonstrations, fostering consumer confidence and trust in the quality and functionality of STBs, thereby driving higher sales volumes through physical retail outlets.
On the basis of application, the residential sector, has the highest market share in 2023, owing to the widespread adoption of digital television services in residential households drives the demand for STBs to access broadcast, cable, satellite, and internet-based content. Moreover, the increasing popularity of high-definition (HD) , ultra-high-definition (UHD) , and 4K television sets among consumers necessitates compatible STBs to deliver enhanced viewing experiences.
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Regional Outlook
On the basis of region Asia-Pacific accounts for the largest market share and is anticipated to grow at the fastest CAGR during the forecast period owing to factors such as rapidly expanding population, urbanization, and rising disposable incomes drive the demand for digital entertainment services, fueling the adoption of STBs across residential and commercial sectors. Moreover, the increasing penetration of digital television broadcasting, satellite TV, and broadband internet services in emerging economies like China, India, and Southeast Asian countries creates substantial opportunities for STB manufacturers and service providers.
Key Players: -
- Advance Digital Broadcast (ADB)
- Commscope (ARRIS International, plc)
- Coship Electronics Co.Ltd.
- Echostar Corporation
- Huawei Technologies Co., Ltd
- KaonMedia
- Sagemcom SAS
- Samsung Electronics Co. Ltd.
- Technicolor SA
- LG CNS Co., Ltd
The report provides a detailed analysis of these key players in the global Set-Top Box (STB) market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Recent Development:
- In August 2023, Reliance Jio announced launch of Jio set top box (STB) along with introduction of Jio Smart Home Services and Jio Router at Reliance Jio 46th Annual General Meeting (AGM) . Jio STB is anticipated to offer various services including TV channel streaming, games, streaming platforms, and applications such as JioCinema and JioTV+.
Key Benefits for Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the Set-Top Boxes Market Analysis from 2024 to 2032 to identify the prevailing set-top boxes (STB) market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the set-top boxes (STB) market segmentation assists to determining the prevailing Settop box market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global Cable Set Top Box market.
- Set-Top Boxes Market Share by Companies positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes an analysis of regional as well as global set-top boxes (STB) market trends, Set-Top boxes for U.S., market Set-Top boxes company list, Set-Top boxes manufacturer, market segments, application areas, Set-Top boxes market forecast, Set-top boxes market data, Set-Top boxes sector analysis, and market growth strategies.
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Set-Top Boxes (STB) Market Key Segments:
By Technology
- Satellite
- IPTV
- Cable
- Others
By Resolution
- SD
- HD
- UHD
- 4k
- Others
By Distribution Channel
- Offline
- Online
By Application
- Residential
- Commercial
By Region
- North America (U.S., Canada, Mexico)
- Europe (France, Germany, Italy, UK, Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific)
- LAMEA (Latin America, Middle East, Africa)
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