The Set Top Box Market involves in the production and development of smart digital box for television systems. A set top box (STB) is a device that enables a television to display cable or satellite broadcasts. It contains an input TV tuner and displays output on television by decoding digitally broadcast content.
Digital TV STB gives a superior viewing experience with enhanced sound and picture quality to the viewer. All most all channels are having high definition version, that provides better picture quality. Most of the consumers prefer high definition channels when compared with standard definition channels, since the viewers can recognize the stark difference when they switch between each other. The Digitalization of the TV technology is the major driver for the Set Top Box Market.
Also, increasing demand for high quality content viewing at home is another factor aiding in the growth of this Set Top Box Market. The special functionality of recording programs and storing them is the major factor that rises popularity to the new set top box. Another benefit is that viewers can select a specific set of channels to be viewed and will pay only for those channels, that provides more flexibility to the users in choosing.
Initial costs pose to be a challenge for this market, but its impact is expected to decrease towards the end of the forecast period. Still, rising adoption of smart television coupled with high definition content has only furthered the growth of the Set Top Box Market.
Asia-Pacific is dominating the Set Top Box Market, due to increase in penetration of television and TV services within rural areas as well as urban areas. Also, consumers are more aware in this region about the features, quality and pricing of the set top box, which allows the market to achieve great growth. North America is leading in the next position by increasing demand for 4k TVs. Europe is also estimated to register fast growth during the forecast period.
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