March 31, 2020

Set-top Boxes Market Is Estimated to Expand with a CAGR of 5.9% From 2015 to 2022

According to a new market research report published by Credence Research “Set-top Boxes Market (Cable Television STB, Satellite Television STB, IPTV STB and Hybrid STB) – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 – 2022”, the global set-top boxes market was valued at US$ 13.54 Bn in 2014 and is estimated to expand with a CAGR of 5.9% from 2015 to 2022.

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Set-top Boxes Market

Market Insights:

Set-top boxes (STBs) refer to transmitting devices that are plugged into televisions for receiving broadcast signals. The primary function of the set-top boxes is to convert the content transmitted by the service providers to a format consistent with the television user / subscriber interface. The global market for set-top boxes is strongly governed by the mandatory switch from analog to digital television reception. Thanks to near-deadlines, sales of set-top box units are expected to increase significantly in the coming years.

In addition, the market is also supported by increasing advancements in television channels. With the launch of high definition (HD) television channels, most consumers worldwide are now transitioning to HD streaming. As a result, a set-top box replacement trend has emerged and market growth is expected to continue. In addition, with the advent of ultra-high definition (UHD) television sets, service providers are now moving towards the delivery of UHD content.

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The global market for set-top boxes is segmented by size, video quality and geographic regions. On a type basis, the market is segmented into STB cable, STB satellite, IPTV STB cable and STB hybrid cable. The market is currently dominated by the STB brand of satellite television. In addition, the market is segmented, based on video resolution, standard definition (SD), high definition (HD) and others. The other section consists of advanced video resolution platforms such as UHD and 8K. The UHD segment is expected to have the highest growth in the world in the coming years. Geographically, the market is split into North America, Europe, Asia Pacific and the rest of the world.

Competitive Insights:

The global set-top boxes market is highly competitive in nature with large number of global as well as regional players. The satellite STB, IPTV and hybrid STB segments are majorly dominated by the global players such as Cisco Systems, Inc., Technicolor SA, ARRIS Group, Inc., HUMAX Electronics Co., Ltd. and others. The market is fragmented in nature. However, the scenario may change over the period of time due to ongoing acquisitions and partnerships in the market. Some of the prominent instances include Cisco Systems, Inc. & Technicolor SA and ARRIS Group, Inc. & Pace Plc.

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Key Trends:

Merger & acquisition for betterment of market position
Set-top boxes for HD and UHD television service
Advanced set-top boxes including features such as video recording and hybrid connectivity

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