Technology pertaining to set top boxes has evolved too, and continues to experience growth at a metamorphic rate. Set top box market players have made the progression possible from using over-the-air television technology to over-the-top television technology. Notably, most people these days are opting for DTH set top boxes, which offers an enhanced visual experience and optimized quality as compared to satellite television. A market research report from IndustryARC has projected healthy growth in the global set top box market in the over the course of a forecast period of 2018 to 2023. The report is titled “Set Top Box Market: By Type (Cable, Satellite, Internet Protocol, Digital Terrestrial Television, Over the Top and Others); By Content (High Definition, Standard Definition and Others) - Forecast(2018 - 2023).”
Entertainment is an underrated human necessity, one that we work, and live for and yet fail to recognize the place it holds in our lives. One of the leading sources of entertainment for general masses is television. In this day and age, a set top box, an information appliance device that decodes and converts a digital signal, is an essential component of cable television. The set top box market has returned healthy profits in the recent past owing to their necessity, and their pay-per-view feature. With the world’s second largest population, India is a key consumer for the television industry, according to the Telecom Regulatory Authority of India, set top box user base in the country was at 67.56 million in the year 2017, a number that experiences consistent growth with every passing day.
Browse 50 Market Tables, 176 Figures spread through 141 slides and an in-depth TOC on “Set Top Box Market (2018 - 2023)”
Cardinal Segments of the Set Top Box Market
Based on the application, the set top box market can be segmented into residential and commercial use. On the basis of type, the market can be bifurcated into cable, satellite, internet protocol (IPTV), digital terrestrial television, and over the top. The list keeps on expanding with IPTV currently leading the charge. Content quality is also a deciding factor, and the set top box market can be classified into SD, HD, and 4k UHD.
Over-the-top television technology: A Disruptive market trend
There is a rapid rise in over-the-top television services, an anticipated change that millennials are expected to revel in. The boomers had long feared a time when streaming television programs online would become a normal activity. Services like Netflix, Hulu, Amazon Prime have become prominent enough to attract TV show producers, and urge them to release their shows directly over the Internet. This has rendered the television industry with lack of innovative options to expand their customer base. The set top box market players will have come up with some innovation to counter this emerging challenge.
The Television Regulatory Authority of India observed a scanty growth of 7.85% of DTH subscriber base, which was nearly half the number observed during the previous year. This stagnancy can only be avoided if set top box market players team up with OTT service providers and arrive at a strategy that encourages mutual growth.
Entertainment never dies, and while OTT players can steal a major share of DTH subscriber base, the industry of television shall continue to exist, and thrive. In accordance with the segmentation of set top box industry, if key market players consistently focus on innovating, and better partnerships, the market will not lose steam, and experience growth.
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