USD 23.25 billion
Set-Up Box Market Size, Share, Growth Analysis, By Product(IPTV, Satellite, Cable, DTT), By Content Quality(HD & Full HD, 4K & above), By Region - Industry Forecast 2024-2031
Report ID:
SQSG20D2016 |
Region:
Global |
Published Date: April, 2024
Pages:
157
|Tables:
64
|Figures:
75
Set-Up Box Market Insights
Global Set-Up Box Market size was valued at USD 23.25 billion in 2019 and is poised to grow from USD 23.97 billion in 2023 to USD 30.53 billion by 2031, growing at a CAGR of 3% in the forecast period (2024-2031).
Positive market outlook for set-top boxes is being created by rising demand for advanced digital broadcasting to improve the viewing experience and various countries' supportive initiatives for the digital transition. During the anticipated timeframe, it is anticipated that the addition of high-definition channel support in STBs and the provision of numerous value-added services by DTH operators will generate significant set-up box market growth opportunities. Set-top box improvements like built-in voice assistant, enhanced sound quality, high-definition gaming support, and remote recording capability are helping to drive market growth. Participants in the market are concentrating on working together with DTH operators to improve the service capabilities of their STBs.
Increased OTT content streaming on laptops, tablets, and smartphones is somewhat affecting the demand for set-top boxes. Data from the India Brand Equity Foundation (IBEF) shows that there were 29 million subscribers in the Indian OTT market in July 2020, a 30% increase from March 2020. Furthermore, industry statistics are expected to be impacted by OTT platforms' lower subscription costs than TV channels and their variety of features, including remote accessibility. However, the development of smart TVs with OTT platform and high-definition gaming applications built in is a major factor influencing the set-top box market. Due to their greater flexibility compared to STBs, OTT smartphone applications are gaining popularity with consumers, which will challenge industry statistics. Numerous telco firms, including China Mobile, Airtel, Jio, and T-Mobile, offer TV services on smartphones at a price that is less expensive than that of DTH providers.
US Set-Up Box Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
HD & Full HD
Fastest Growth
4K & above
Growth Rate
3% CAGR
Global Set-Up Box Market, 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
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Set-Up Box Market Segmental Analysis
Global Set-up box Market is segmented based on the Product, Content Quality, and region. Based on the Product, the Market is segmented as IPTV, Satellite, Cable, DTT, OTT. Based on Content Quality, the Market is segmented as HD & Full HD, 4K & above. Based on Region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Set-Up Box Market Analysis by Product
Based on the Product, the set-up box market is bifurcated into IPTV, Satellite, Cable, DTT, and OTT. The set-up box market share that belongs to cable is the largest with over 70 million units sold. In particular, the cable segment's dominance of the market over the past ten years has been made possible by the significant adoption of cable STBs in the developing countries of Asia Pacific. Demand for the product is also being fueled by government regulations requiring cable digitization as well as advantages provided by cable TV, like improved channel carrying capacity. Several cable service providers are upgrading their technology and service offerings as a result of realizing that cable TV continues to be the most well-liked medium for educating the public and disseminating messages. In contrast, as consumer choice has shifted in favor of technologically sophisticated content viewing platforms, cable TV has become less and less popular over the previous few years.
Set-Up Box Market Analysis by Content Quality
Based on Content Quality the set-up box market is segmented into HD & Full HD and 4K & above. With a revenue share of more than 87.43% during the projection period, the HD and Full HD segment is expected to dominate the market. This is mostly because of the benefits it offers, such as access to a wider choice of channels than the 4K alternative. Due to their advantages, including better sound and picture quality and exclusive channels, HD and Full HD STBs are gradually replacing traditional SD boxes. The availability of HD services enabled by smart TVs and 8K TV sets has gradually expanded due to the expansion in their sales, which is encouraging for the segment's growth throughout the forecast period. The market for 4K and higher resolutions is anticipated to expand significantly, with a CAGR of more than 7.8% over the forecast period. The growth can be attributed to the increase in interest in sharp, high-resolution content. The segment is anticipated to grow as a result of favorable regulatory conditions for the installation of set-top boxes and the extensive digitization initiatives being pursued in numerous nations. Government agencies in the United States, like the Federal Communications Commission (FCC), are pursuing beneficial initiatives to support the makers of third-party STBs, which is resulting in new growth opportunities for 4K STB manufacturers.
Global Set-Up Box Market By Content Quality, 2021(%)
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Set-Up Box Market Regional Insights
Asia Pacific is expected to control the set-up box market share. The region's middle-class population in particular is increasingly consuming media and entertainment content, which is positive for the expansion of the local market. Over the projection period, product demand is likely to rise as consumers become more aware of technologically advanced products and their advantages over conventional set-top boxes in terms of quality, functionality, and cost-effectiveness. Prominent manufacturers like Kaon media Co. Ltd. and Huawei are aggressively incorporating the newest technology, such as Bluetooth, motion sensors, and Virtual Reality (VR), into their products as part of their efforts to strengthen their market positions. It is anticipated that the market for OTT media services will expand.
Given that the majority of households in the region already have these devices installed, the regional market in North America is comparatively saturated. However, due to features like customizable configurations and high-quality video and sound content transmission, the area is anticipated to be appealing for emerging Internet-based STBs, such as IPTV and OTT. Additionally, it is anticipated that the exponential growth will be fueled by the rising prominence of international OTT service providers in developing nations, such as Netflix, Star TV Network, and Amazon Prime Video.
Global Set-Up Box Market By Geography, 2021 - 2028
- Largest
- Fastest
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Set-Up Box Market Dynamics
Set-Up Box Market Driver
- The enhanced and personalized experience that Android STBs can provide is driving up demand for them. Android STBs are in high demand because of features like voice recognition, a thriving app ecosystem, TV Input Framework (TVIF), and video conferencing. The demand for the newest STB models is also being fueled by a variety of connectivity options, including Wi-Fi, Ethernet, HDMI, and Bluetooth. The integration of cutting-edge technologies, such as Bluetooth Low Energy (BLE), voice-enabled remotes, Full HD and 4K/8K resolution support, in the most recent STB models to set them apart from more traditional set top boxes also offers the market tremendous growth potential over the forecast period.
- The hospitality sector is expanding significantly, and massive hospitals are being built all over the world, which is fostering a favorable environment for STBs in the commercial sector. For instance, the Hyatt Hotel Corporation's The Walper Hotel in Canada opened its doors in May 2021. The 92 rooms at the Kitchener, Ontario-based hotel are available for both business and leisure travel.
Set-Up Box Market Restraint
- Set-top boxes for smart TVs typically operate a little more slowly than typical smart televisions. That's because less expensive Android TV boxes have slower processors than a typical smart TV, which makes it take longer for them to perform some tasks. Consequently, consumers who don't mind spending a little more on a smart television frequently steer clear of getting a regular television and adding a smart set-top box to it. These set-top boxes pose a problem in terms of both the amount of energy they consume and how that energy is utilized. Almost all set-top boxes were found to use almost as much power when no programs were being recorded or watched as when they were.
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Set-Up Box Market Competitive Landscape
The Global Set-up box market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
Set-Up Box Market Top Player's Company Profiles
- EchoStar Corporation (US)
- Arris International
- Technicolor SA
- Humax Holdings
- Samsung Electronics
- Huawei Technologies
- Apple Inc.
- Amazon.com Inc.
- Roku Inc.
- Pace Plc
- Skyworth Digital Holdings
- Sagemcom
- Broadcom Corporation
- ADB SA
- Coship Electronics
- Cisco Systems Inc.
- TiVo Corporation
- Shenzhen SDMC Technology Co., Ltd.
- ZTE Corporation
- Changhong Electric Co., Ltd.
Set-Up Box Market Recent Developments
- In July 2022, Samsung Electronics Develops Second-Generation SmartSSD Computational Storage Drive with Upgraded Processing Functionality. The new proprietary computational storage incorporates data processing functionality within a high-performance SSD. Unlike existing SSDs, Samsung’s SmartSSD can process data directly, thereby minimizing data transfers between the CPU, GPU and RAM
- In June 2022, LG Group has joined hands with Morgan Stanley again to acquire Iljin Materials. Morgan Stanley is drawing attention as it has been almost monopolizing financial and business-related consulting orders from LG Group, which has no financial affiliates.
Set-Up Box Key Market Trends
- Artificial intelligence (AI) is being incorporated into set-top boxes by STB vendors to deliver personalized services, lower the cost of backend servers and human interference, and efficiently utilize the available bandwidth. Additionally, they are incorporating voice recognition technology for channel selection as well as other common commands for the weather, music, and digital signal strength. In addition to a modern design, STB integration of AI and voice interference is currently in full swing. Low-cost STBs are being developed by manufacturers in the market to satisfy escalating consumer demand. To gain a competitive edge, market leaders are providing set-top boxes that are technologically and feature-rich. In order to broaden their product offerings, a number of suppliers have formed alliances, mergers, and acquisitions in response to the rising popularity of OTT platforms.
- In the upcoming years, it is anticipated that a significant increase in demand for OTT-enabled STBs will result from consumers shifting their viewing preferences toward IPTV and OTT platforms like Netflix, YouTube, Amazon, etc. Further boosting the market demand will be the rising demand for original, high-quality content. Additionally, it is predicted that in the near future, there will be significant growth opportunities for 4K and 8K STBs due to a growing preference for big TV screens and in-home entertainment. In order to simplify the distribution system and lower the overall cost of STBs, the companies are also moving their manufacturing operations to their respective regions.
Set-Up Box Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Set-up box Market Analysis, in terms of product, the market share that belongs to cable is the largest with over 70 million units sold. In particular, the cable segment's dominance of the market over the past ten years has been made possible by the significant adoption of cable STBs in the developing countries of Asia Pacific. In terms of quality, the HD and Full HD segment is expected to dominate the market. This is mostly because of the benefits it offers, such as access to a wider choice of channels than the 4K alternative.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 23.25 billion |
| Market size value in 2031 | USD 30.53 billion |
| Growth Rate | 3% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Set-Up Box Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Set-Up Box Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Set-Up Box Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Set-Up Box Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Set-Up Box Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Set-Up Box Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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