Global Set Top Box Market: Demand Analysis and Growth Forecast
Set Top Box is an information appliance device that is displayed out to the television and is integrated with cable television, satellite television, and over-the-air television for broadcasting purpose. Increasing use of Wi-Fi for connectivity allows the digital terrestrial television to gain supplementary demand. This resonates with the findings by IndustryARC report, which has evaluated the global set top box market size to be between $16.5 and $18 billion as of 2018, and projected the demand to grow with a CAGR between 6% and 7% during the forecast period of 2019 to 2025. 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 (2019 - 2025)”. According to the analyst,
Adoption of hybrid boxes is augmenting the market demand growth because of increasing demand for over-the-top content services. According to the National Resource Defense Council’s report 2018, in the United States households, there were more than 225 million set top boxes that were installed have a longevity of more than 5 years. In mid-1990s, Apple Computers in collaboration with few telecommunication firms such as British Telecom and Belgacom had developed its own Apple Interactive Television Set Top Box.
Browse 50 Market Tables, 176 Figures spread through 141 slides and an in-depth TOC “Set Top Box Market (2019 - 2025)”
Global Set Top Box Market: Leading Segment
Digitalization of cable networks in the emerging countries such as India and China, where the government mandated for STBs have further driven the consumer demands for set top box. Set top box market is identified to be one of the most dependable sectors for growth in APAC. The analyst has found that APAC held close to 40% of the regional share in the set top box market in 2018. With sustained growth, APAC can continue leading the global set top box market. The demand for the satellite segment of set top box will increase with the application CAGR between 7% and 9% during the forecast period of 2019 to 2025.
Global Set Top Box Market: Disruptive Trends
- Voice-activated Artificial Intelligence Set Top Box
Artificial Intelligence is changing the video and the television these days. Korea telco has already deployed their set top boxes with an integrated home assistant. This was one of the world’s first Artificial Intelligence assistances applied in the set top box. This assistance now offers 95% accuracy and effectiveness in translating voice-over comments to actual actions that go beyond controlling the video with full control of IoT powered devices in the house. Companies are spending more and more dollars in the technology-automated and data-driven methods that are applicable to programmatic television.
- Netflix Partners with Hathway
Netflix has recently partnered with Hathway in India. Now Hathway set top box will have remote that will already have Netflix button in it. Payment of Netflix will be easily done with Hathway bill subscriptions after the partnership. It is seen that the new inventions and ideas are bolstering the prospects in the set top box market.
Global Set Top Box Market: Competitive Landscape
Some of the key companies identified in the report that are currently holding majority shares in the global set top box market are Huawei Technologies Co. Ltd., ARRIS International, DISH Network, HUMAX Co. Ltd., Technicolor, Samsung Electronics Limited, EchoStar Corporation,Coship Electronics Co.Ltd., Cisco Systems, Inc., and ADB Global.
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