The global set-top box market size was worth around USD 25.23 billion in 2023 and is predicted to grow to around USD 32.68 billion by 2032 with a compound annual growth rate (CAGR) of roughly 3.04% between 2024 and 2032.
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The report provides global and regional forecasts and analyses of the set-top box market. The research offers historical data from 2018 to 2022 and a forecast from 2024 to 2032, which is based on revenue (USD Billion) and volume (K Units). The study encompasses the drivers and restraints for the set-top box, as well as the influence they have on the demand during the forecast period. Additionally, the report examines the set-top box market on a global scale, including the examination of opportunities and various trends.
Demand for satellite television and its associated set-top box has experienced an upward trend. The twenty-year-old monopoly of cable operators was at risk of being completely disrupted by the emergence of set-top devices. Since that time, it has been evident that set-top devices will soon become an indispensable component of home entertainment packages. People transitioned from satellite television and set-top devices due to their dissatisfaction with the service standards of cable operators.
Nevertheless, the conventional set-top box is under threat from connected devices, including smart TVs, gaming consoles, and media streamers. Content from a diverse array of sources can be accessed through each of these devices. New features are incorporated into set-top boxes, including SVoD and voice services, to obtain a technological advantage.
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The Global Set-Top Box Market is segmented based on product, application and region
Global Set-Top Box Market: Product Segment Analysis
● Cable
● Satellite
● OTT
● IPTV
● DTT
Global Set-Top Box Market: Application Segment Analysis
● Residential
● Commercial
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The Global Set-Top Box market profiles key players such as:
● Altech Multimedia (Pty) Ltd.
● Shenzhen Jiuzhou Electric Co., Ltd.
● Aventsecurity
● Coship Electronics Co., Ltd.
● Arris International, plc
● Echostar Corporation
● LG CNS Co., Ltd.
● Humax
● Huawei
Europe is anticipated to experience substantial growth during the forecast period. One of the primary factors driving media technology expenditure in Europe has been the transition to high definition. The set-top box market in Europe is being driven by the convergence of OTT video services with IPTV and the transition of cable operators to IPTV service platforms. Western European countries, including Belgium, France, Germany, and Spain, dominate the set-top box market in Europe due to their superior infrastructure and higher broadband penetration. Furthermore, the surge in demand for high-speed broadband services is anticipated to accelerate the growth of the European digital cable industry.
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