MARC Group’s latest report, titled “Set-Top Box Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” finds that the global set-top box market reached a value of US$ 17.17 Billion in 2020. A set-top box is a hardware device that is used to convert video content to analog or digital TV signals. These TV and internet data signals are received via cable and telephone connection that is decoded and then displayed on the TV screen. A set-top box consists of turners, system buses, decoders, graphic processors, storage devices, demultiplexers, and decryptors. It provides multiple channels, at the request of the viewers, along with access to pay-per-view and premium channels. It also enables users to record the programs in real-time and watch them later, as per their convenience.
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Global Set-Top Box Market Trends:
The global set-top box market is primarily driven by the rising digitization of television networks and growing preference for high-definition TV with satellite set-top boxes. With the improving living standards and inflating incomes of consumers, there is a rise in the sales of smart TVs and Internet-based STBs. Furthermore, the steadily growing demand for high-quality video streaming and interactive videos is bolstering the market growth. Besides this, various companies are maximizing the storage options and digital video recording capability of the set-top boxes for improving the overall viewer experience. Additionally, governments across the world are mandating the installation of set-top boxes, analog switch-off transition, and the deployment of open OS-based devices. For instance, the Government of India has amended the Cable Television Network (Regulation) Act, which has made set-top box installation compulsory in the country. Furthermore, the rising adoption of hybrid set-top boxes on account of the emergence of various OTT platforms is also propelling the market growth. Looking forward, IMARC Group expects the global set-top box market to witness steady growth, exhibiting a CAGR of 3.50% during the forecast period (2021-2026).
Market Breakup by Type:
- Cable STB
- Satellite STB
- Digital Terrestrial Television (DTT) STB
- Internet Protocol (IP) STB
- Over-The-Top (OTT) STB
Market Breakup by Resolution:
- HD (High Definition)
- SD (Standard Definition)
- UHD (Ultra-High Definition)
Market Breakup by End-User:
Market Breakup by Service Type:
Market Breakup by Distribution Channel:
- Online Distribution
- Offline Distribution
Breakup by Region:
Asia Pacific, Europe, North America, Latin America, and Middle East and Africa.
Competitive Landscape with Key Player:
- ARRIS International Limited
- HUMAX Electronics Co., Ltd.
- DISH Network Corporation
- Roku, Inc.
- Huawei Technologies Co. Ltd.
- Technicolor SA Apple Inc.
- Google LLC
- Samsung Electronics Co., Ltd.
- EchoStar Corporation
- Shenzhen Skyworth Digital Technology Co. Ltd.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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