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According to our latest market study on “Set-Top Box Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Product, Content Quality, and Geography,” the set-top box market size is expected to grow from US$ 19,548.7 million in 2019 to US$ 24,530.2 million by 2027; it is estimated to witness market growth of 3.0% CAGR from 2020 to 2027. Satellite TVs are among most significant applications of set-top boxes. The implementation of show-recording facility that allows viewers to record their shows in real-time and view them later, depending on their convenience is one of the key developments brought in satellite TVs. India is a major market for set-top boxes.

According to the set-top box market analysis, ADVANCED DIGITAL BROADCAST SA; ALTECH UEC; ARRIS INTERNATIONAL LIMITED (COMMSCOPE); COSHIP (SHENZHEN COZHOU ELECTRONICS CO., LTD.); HUAWEI TECHNOLOGIES CO., LTD; HUMAX CO., LTD.; KAONMEDIA CO., LTD.; SSAGEMCOM; SKYWORTH; and ZINWELL CORPORATION are a few key players operating in the set-top box market. In addition, several other important set-top box market players were studied and analyzed during the course of this study to get a holistic view of the global & regional market share and its ecosystem.

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Increasing Penetration of HD Channels and Growing Adoption of Satellite Cable and Smart TVs to Drive Set-Top Box Market During 2020–2027

In addition to a booming direct-to-home satellite market, the country is approaching the completion of its cable TV system digitization goal. Moreover, according to the Telecom Regulatory Authority of India (TRAI), the highest subscriber base was registered in 2019; in March 2019, the country registered 72.44 million active subscribers. Further, the high demand for high-definition (HD) picture quality is influencing the growth of the set-top box market in the world. HD set-top boxes are equipped with both HD channels and standard (SD) channels. In March 2018, Dish TV India Limited announced the completion of its merger with Videocon D2h Limited.

With this merger, they formed one of India’s largest listed media companies, with a vow to reduce set-top box procurement costs. Thus, the launch of smart TVs and HD channels has led to a rise in digital TV watching, which, in turn, would fuel the growth of the set-top box market in the coming years.

The set-top box market is segmented on the basis of product, content quality, and geography. Set-Top box market, by product, is segmented into cable, satellite, IRTV, and others. Based on content quality, the set-top box market is segmented into standard definition (SD), high-definition (HD), and 4K. On the basis of geography, the set-top box market size is primarily segregated into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM). According to the set-top box market forecast analysis, APAC held the largest market share in 2019.

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Presence of emerging economies and rise in adoption of advanced and sophisticated technologies are contributing to the overall growth of the APAC market. Australia, China, Japan, and India are the main contributors to the development of the set-top box market. To implement technologically advanced solutions across different sectors, including broadcasting industry, rapid technological developments, digitalization of economies, and adequate government support are contributing to the smooth evolution of economies from the developing stage to the developed stage. Moreover, leading players are launching smart remotes using gesture control for running STBs.

To detect hand movements, these remotes use ultrasonic sensors and infrared light-emitting diodes to relay decoded signals to the STB. Market players also collaborate with content and internet service providers to raise STB sales in the countries. Due to rising adoption of various set-top boxes in countries, such as China and India, APAC is projected to become the largest market. A large portion of the Asian population tends to reply on TV cable and set-top boxes for their entertainment over the years. The launch of Smart TVs and HD channels has contributed to a rise in digital TV viewing, which would eventually fuel the set-top box market growth.

For instance, in March 2018, Dish TV India Limited announced that the merger of Videocon D2h Limited with Dish TV India Limited had been completed. With this acquisition, they formed one of India’s largest listed media companies and vowed to reduce set-top box procurement costs. Mergers of this stature complement the growth of the industry and assist in rising customer demand. In addition, increasing disposal income among the population is expected to fuel the growth of the market over the forecast period.

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