Set-Top Box Market Insights, Future Trends, Growth Till 2031 – Astute Analytica
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A digital demodulator is a component of the set-top box that assists in demodulating the received broadcast signal into visual and audible content. In addition, it displays, record, and capture the content. In their home entertainment equipment, nearly all set-top box manufacturers use integrated circuits (IC). Compared to traditional broadcasting services, STBs offer more channels and significantly raise the level of video quality.
Factors Pushing the Growth of the Global Set-Top Box Market
The important advantages provided by firms to enhance the entire television viewings experiences, such as premium storage options, sound and picture quality, and digital video recording, are mostly responsible for the market expansion.
Increased use of hybrid set-top boxes
OTT platforms provide interesting and appealing content that improves the user experience. The STB market is expanding as a result of the introduction of High Definition (HD) channels, digitization of TV broadcasts, and consumer demand for better picture quality. The capacity of a user to surf the Web, stream films, access various applications, play games, and take advantage of associated features like OTT services is improved thanks to the increased use of STBs to stream digital TV content over the Internet as technology advances. Thanks to advanced coding and compression techniques, high-quality videos may now be easily decoded with relatively little bandwidth.
Technological Advancements
In the near future, the set-top box (STB) market is anticipated to increase rapidly. The market is rising due to the rising demand for smart TVs with dynamic content and high subscription model flexibility. With expanded access to services like Netflix, YouTube, and other streaming services, smart TVs are likely to give users even more options. Additionally, new subscription models on the market are anticipated to offer more options, with more of them shifting toward pay-per-channel arrangements. This is clear in nations like the U.S., where services like HBO are in high demand. Recent legislation in India gave set-top-box providers the ability to more effectively compete with dynamic content from the Internet, increasing competition and giving consumers more options. Thus, these trends will have a positive effect on the global industry.
The rise in popularity of Android Televisions
Since Android STBs can provide a more individualized and upgraded experience, the need for them is also rising significantly. Due to capabilities including a wide range of apps, voice recognition, TV Input Framework, and video conferencing, Android STBs are in high demand. Due to the availability of many connectivity options, including Wi-Fi, HDMI, Ethernet, and Bluetooth, the most recent STB models are in high demand. Voice-activated remote controls, Full HD and 4K/8K resolution support, and Bluetooth Low Energy (BLE) are just a few of the cutting-edge technologies. These technologies are recently incorporated into the STB models to differentiate them from traditional set-top boxes. These innovations offer the market a tremendous opportunity for growth over the forecast period.
Segmentation Summary
By Product
In 2020, the cable STBs segment led the global set-top box industry. , This is due in a large part to the significant adoption of cable STBs in developing nations throughout Asia and the Pacific. Demand for the product is being driven by government requirements for cable digitization and advantages provided by cable TV, such as improved channel carrying capacity.
On the other hand, the OTT segment will project the highest CAGR throughout the analysis years. Consequential technological advances have been made in the OTT sector, allowing broadcasters to deliver higher-quality audio and video.
By Content Quality
The HD segment recorded the maximum revenue share and is likely to maintain its share over the coming years. This is mainly because of the many advantages, which include having access to more channels than the 4K counterpart. HD are replacing conventional SD boxes in a steady transition due to their benefits, which include exclusive channels and superior sound and picture quality.
Geographical Insights
India has a sizable market for set-top boxes, and the nation is virtually finished digitizing its cable TV infrastructure. This endeavor resulted in a significant upgrade of cable boxes throughout the nation and a growing direct-to-home satellite industry. As a result, the APAC region had the highest-growing market segment. For instance, by the quarter that ended in September 2019, India had around 69.30 million users. The Telecom Regulatory Authority of India reported that 2019 had a record-high number of subscribers in the nation.
Contrary, North America is considered to be a competitive market with strong market competition among major players. In order to gain a competitive edge, North America businesses are continually looking for new features to incorporate into their set-top boxes, such as security, gateway capabilities, and enhanced HD capability.
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Leading Competitors
Some of the notable competitors in the global set-top box market are:
Advance Digital Broadcast
TechniSat Digital GmbH
Altech Multimedia (Pty) Limited
Technicolor S.A.
Shenzhen Jiuzhou Electric Co. Ltd.
Arris International, plc
Samsung Electronics Co. Limited
Coship Electronics Co. Ltd.
Sagemcom SAS
Echostar Corporation
LG CNS Co. Ltd.
Other Prominent Players
Segmentation Outline
The global set-top box market segmentation focuses on Product, Content, Interaction Service, Application, and Region.
By Product
Over the top (OTT)
Digital Terrestrial Television (DTT)
Cable
Satellite/DTH
Internet Protocol Television (IPTV)
By Content-Quality
Standard Definition
High Definition (HD)
Ultra HD and above
By Interaction Service
Video Conferencing
High-Speed Internet Television
Video on Demand
By Application
Communication
E-services
Media content
Audio/video
Gaming
Web content
Cloud services
By Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
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About Astute Analytica
Astute Analytica is a global analytics and advisory company that has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in-depth, and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well-calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment-wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.
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