According to a recent study report published by Market Research Future, the global market of set-top box is booming and expected to gain prominence over the forecast period. The market is projected to demonstrate a spectacular growth by 2023 with a striking CAGR during the anticipated period (2017 – 2023). Increasing demand for of 4K TVs is expected to provide support to the growth of the set-top box market one major factor driving the growth of set-top box market.
Digital terrestrial television is considered to gain demand in market due to increasing use of Wi-Fi which allows connectivity through web. The IP transmission recording features and higher storage specifications are driving the market growth of set top box in the market. The factors that boost the growth market are the increasing adoption of digital terrestrial television broadcasting, BS digital broadcasting, and CATV broadcasting which is driving the market growth in the forecast years. In 2017, Dish TV launches new generation cardless HD set-top which is portable and cost effective.
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Major key Players
The prominent players in the global set-top box market are – Huawei Technologies Co. Ltd. (China), Apple Inc. (U.S), Google Inc. (U.S), Samsung Group (South Korea), Arris International Plc. (U.S), EchoStar Corporation (U.S), Humax (U.K), Sagemcom (France), Technicolor SA (France), and Skyworth Digital (China) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Set-top Box Market.
April 2018 My Box Technologies (MBT) which is controlled by Hero Group-controlled set top box (STB) manufacturer has turned its attention to the cable TV segment as it doesn’t have any agreement with any direct to home (DTH) operator currently. The business is also planning to launch an Android set top box (STB) by the second quarter of 2019. The company previously had a contract with Bharti Telemedia which is Bharti Airtel’s DTH division to supply STBs. Nevertheless, when the Airtel contract ended in November 2016, the company has put its focus on the hybrid STB and cable TV segment.
According to MRFR, The global Set-Top Box Market is growing rapidly over 6% of CAGR and is expected to reach at USD 31 Billion by the end of forecast period.
Competitors who are a part of the industry have devised their corporate strategy blueprint in a way that that can bring the best outcomes for development in the current scenario, while also simultaneously delivering customer value unfailingly. The ability to sustain their competitive edge is one of the main causes fuelling their efforts in this period. The scope for development in the industry appears to be promising through the forecast period. The rising interest for diversification in the industry, has indirectly allowed the players to utilize many prospects available in the industry. This scenario has created opportunities for portfolio improvements along with diversification in the sector, which has improved the scenario for market competitors tremendously in this industry. The organizations in this industry are also trying to enhance and maintain financial liquidity that can be crucial to invest in growth opportunities as and when they become available.
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North America is expected to witness a significant growth and hold the largest market share during the forecast period. U.S and Canada are anticipated to drive the growth of the set-top box market in North America owing to the presence of a large number of established key players such as Apple Inc., Google Inc., Arris International Plc. And EchoStar Corporation among others. Also, U.S. is leading the market in North America due to the rising demand for hybrid set-top boxes and high-speed communication.
The region wise analysis of set-top box industry includes region such as North America, Asia Pacific, Europe and Rest of the World. The North American region is one of the important regions in the world in terms of market portion in the set-top box market owing to growing demand of hybrid set-top box which is boosting the market growth. The set-top box industry in the European region is anticipated to observe rapid growth in the approaching period. Whereas, the Asia-Pacific region which includes countries like India, China and Japan and is a developing market for set-top box industry and is estimated to be the highest CAGR generator in the forecast period.
Segmentation by Type: Comprises of Cable, Satellite, Digital Terrestrial Television, Internet Protocol, Over-The-Top Content (OTT) and Others
Segmentation by Content Resolution: Comprises of Secure Digital (SD), High Definition (HD), 4K and Others
Segmentation by Application: Comprises of Residential Use and Commercial Use
Segmentation by Region: Comprises of Geographical regions – North America, Europe, Asia Pacific and Rest of the World.
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- Set-top box companies
- Set-top box providers
- Professional service providers
- Research and development companies
- Market research and consulting firms
- Solution providers
- Technology standards organizations
- Technology investors
- System Integrators