4K Set-top Box (STB) Market Size Study, End-Use Sector And Regional Forecasts, [2013-2024]

The global 4K Set-top Box (STB) market size is projected to reach USD 7.18 billion by 2024, as per a new report by Grand View Research, Inc. The growing inclination of the global public towards ultra-high definition video viewing can be attributed as a major reason for the 4K STB market growth.

The demand for media-rich home entertainment services among consumers is increasing and is anticipated to fuel market growth. The growth is further fostered by favorable government initiatives, large-scale digitization programs, and mandatory installation of set top boxes. Improved standard of living owing to increased purchasing power is positively impacting the industry growth.

The initiatives undertaken by the Federal Communications Commission for supporting third party STB manufacturers is paving the way for the expansion of the Ultra High-Definition (UHD) STB industry. The market is anticipated to gain traction in Asia Pacific owing to the strong presence of low-cost set top box manufacturers, especially in countries such as Korea, Taiwan, and China.

The increasing penetration of 3D and 4K TVs and escalating demand for large screen displays are fueling the demand for Ultra High-Definition (UHD) STBs. Smart features such as STB operability through voice commands given by Remote Control Unit (RCU) is garnering high potential. The computational capabilities of STBs in combination with the advent of quality standards to satiate growing customer expectations have culminated in the STB market growth.

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www.grandviewresearch.com/industry-analysis/4k-set-top-box-market

Further key findings from the report suggest:

  • Internet Protocol Television (IPTV) 4K STBs accounted for over 20% of the market share in 2015 and are expected to witness considerable growth over the forecast period. Increasing broadband penetration can be attributed as the major reason for the rise in the market share of IPTV 4K Set-top Box devices. The IPTV set top box product segment is projected to gain traction owing to benefits such as integration of TV, PC, home phone, and wireless devices offering a high quality of viewing experience to the end-users.
  • The Asia Pacific 4K STB market was valued at over just over USD 50 million in 2015 and is projected to witness high growth over the next eight years. India is poised to emerge as a lucrative market for UHD STBs with the country expected to witness a CAGR substantially higher than the regional average. Several DTH operators such as Tata Sky, Videocon, and Airtel have launched UHD STBs and are attempting to achieve a higher rural penetration with affordable regional packages.
  • Key industry participants include ZTE Corporation, SAGEMCOM, Arion Technology, Roku Inc., and Infomir LLC. Manufacturers are emphasizing on UHD STBs incorporated with interactive 4K content to gain a competitive edge in the industry.
  • Technology giants such as Apple Inc. have managed to make their mark in this competitive industry. The Apple TV device aids the streaming of (Over-The-Top) OTT content and other videos over the internet. The launch of advanced OTT devices such as Google Inc.’s Chromecast media streaming device and Amazon’s Fire TV STBs have opened up new avenues in the industry.

Satellite-based 4K Set Top Boxes dominated the market

Vendors and service providers are providing several Ultra HD STB variants such as OTT, IPTV, satellite, Digital Terrestrial Television (DTT), and hybrid STB devices. Satellite-based 4K STBs dominated the industry in 2015, acquiring over 30% of the global revenue share.

Although IPTV and OTT services use the internet as a medium to deliver content, their respective frameworks vary, owing to which both differ in content quality and picture delivered. IPTV service is characterized by a higher video quality as the content is transmitted via a network managed by a service provider. IPTV STBs are expected to witness significant growth and are expected to replace other STB and content transmission services.

OTT makes use of the public internet for transporting content that originates form service providers such as Hulu and Netflix, thereby making it cheaper as compared to IPTV and other internet based services. However, unlike IPTV, OTT services do not provide any quality guarantee for media content and do not provide live programming.

The provision of OTT and IPTV services is expected to assist cable operators in the enlargement of their client database over the forecast period. Hybrid STBs are projected to grow at the fastest rate from 2016 to 2024 owing to their compatibility towards multiple streaming and content transmission services.

Grand View Research has segmented the global 4K Set-top Box (STB) market on the basis of product and region:

4K Set-top Box (STB) Product Outlook (Volume, Thousand Units; Revenue, USD Billion, 2013 – 2024)

  • IPTV
  • Satellite
  • DTT
  • OTT
  • Hybrid

4KSet Top Box (STB) Regional Outlook (Volume, Thousand Units; Revenue, USD Billion, 2013 – 2024)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • MEA