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According to our latest market study on “Set Top Box Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product and Content Quality,” the set top box market is expected to grow from US$ 20,855.1 million in 2022 to US$ 25,535.9 million by 2028; it is estimated to grow at a CAGR of 3.4% from 2022 to 2028.

Major advances in digital technology, coupled with a rise in the adoption of broadband services, are driving the APAC set top box market share in a global market. In addition, the set top box market growth is positively influenced by the introduction of motion sensors and cameras into STBs. 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.

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Competitive Landscape: Set Top Box Market: Humax, Technicolor, Huawei, Sagemcom, and Coship are among the key set top box market players. In addition, several other important set top box market players were studied and analyzed during this study to get a holistic view of the global set top box market and its ecosystem.

Due to the 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 rely 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 the rising customer demand. The demand for set-top box services in APAC has benefited from rapid internet adoption. The installation of set top boxes is now required by several local authorities in the area. Users will be able to enjoy the services of several DTH providers without switching set top boxes because of these systems’ interoperability features. This will improve the services provided by cable TV providers. In addition, the increasing disposable income among the population is expected to fuel the growth of the set top box market growth during the forecast period.

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The sudden shutdown of all economic activities across all countries in the region due to the COVID-19 outbreak highly impacted the entertainment industry, not allowing them to telecast new episodes. This has influenced the huge population of developing countries like India and China to adopt OTT platforms for fresh entertainment and on-demand videos. For instance, Netflix and Disney+ Hotstar witnessed increase in the numbers of subscribers in India during 2020. Moreover, China being the manufacturing hub of the globe has experienced major downfall in the manufacturing of set top boxes during the pandemic. However, cable operators across the region are taking several initiatives to reduce the impact on the market. DTH providers have floated several deferred payment options to influence the adoption of the same in the region and are expected to increase the adoption by 7–8% post the pandemic era.

The set top box market size is segmented based on product, content quality, and geography. Based on product, the analysis is categorized into cable, satellite, IPTV, and others. By content quality, the set top box market size is segmented into standard definition, high-definition, and 4K. In terms of geography, the set top box market analysis is primarily segregated into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America.

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The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Healthcare, Manufacturing and Construction, Media and Technology, Chemicals, and Materials.

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