The need for set-top boxes will increase in the next years, especially in emerging economies like India, China, and Malaysia. As more people share their lives on social media, there has been a rise in the need for high-resolution video.
The global set-top box market is expected to reach a market valuation of US$ 33.4 Billion by the year 2022, accelerating with a moderate CAGR of 5.6% by 2022-2032. Set-top box market size is anticipated to be valued at about US$ 57.7 Billion by 2032 end.
The expansion of the set-top box market is anticipated to be aided by the increasing availability of high-definition channels and on-demand video content over the next few years. Technology advancements in the set-top box market, such as 4K and 8K support, and the incorporation of smart home services in STBs, are favourably impacting TV viewership trends.
Request a Sample Copy of this Report @
https://www.futuremarketinsights.com/reports/sample/rep-gb-4594
The growing popularity of online video streaming on mobile devices such laptops, tablets, and smartphones have a negative impact on the demand for traditional television setup boxes.
The number of Indian OTT users increased by 30% from March 2020 to July 2020, according to data from the India Brand Equity Foundation (IBEF). There is speculation that the set-top box market may be affected by the cheaper subscription pricing of OTT platforms in comparison to TV channels, as well as by their many capabilities, including remote accessibility.
The pandemic had a devastating financial impact on set-top box market leaders like Broadband SAS, Mybox Technologies Pvt Ltd., Kaon Media Co., Ltd., and TechniSat Digital GmbH. But after the pandemic, the set-top box market should see stable demand as people transfer their attention to better TV viewing experiences.
Key Takeaways
For More Information or Customization @
https://www.futuremarketinsights.com/customization-available/rep-gb-4594
Competitive Landscape
Companies such as Sagemcom Broadband SAS, Samsung Electronics, Sercomm Corporation, Shenzhen SEI Robotics Co., Ltd., Skyworth Digital Co., Ltd., Sumitomo Electric Industries, Ltd., Technicolor SA, TechniSat Digifocus, and HUMAX Co., Ltd. are among the set-top box market leaders.
The leading companies in the set-top box industry are set top box market WIe teaming up to advance the state of the art and boost sales of set-top boxes. Skyworth Digital Co., Ltd. and Amino Technologies plc are two examples of companies working to enhance their STB services.
Recent Developments
Videocon D2H introduced its voice-enabled and internet-enabled android set top box with Alexa kit in March 2020. The device runs on the Android 9 operating system and provides access to over-the-top (OTT) content.
Tata Sky Binge+, an android enabled DTH set top box with features and 4K programming, was released in December 2019. This updated model operates on the 1.8GHz Broadcom BCM72604 B CPU and runs on the android 9 operating system.
Set-Top Box Market By Segmentation
By Product:
By Video Quality:
By Region:
Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Jul 06, 2023