The Set-Top Box Market Share is expected to increase by USD 3.39 billion from 2020 to 2025, with an accelerated CAGR of 3%- according to the recent market study by Technavio.
- The integration of voice control features into set-top boxes to make them more convenient to use will subsequently fuel the growth of the set-top box market during the forecast period.
- The integration of new technologies such as Android-based set-top boxes is one of the critical set-top box market trends as it helps consumers to access digital content, play games, and surf the internet.
- Security threats associated with next-generation set-top boxes is one of the key challenges hindering the Set-Top Box Market growth.
- APAC will register the highest growth rate of 44% among the other regions. Therefore, the set-top box market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
- The set-top box market vendors should focus on grabbing business opportunities from the satellite set-top box segment as it accounted for the largest market share in the base year.
Satellite Set-top Box Held the Largest Market Share
- The set-top box market share growth by the satellite set-top box segment will be significant during the forecast period.
- Satellite set-top boxes are devices that are used to decode and tune digital signals received from transmitting satellites and convert them into a proper viewable television format.
- The increasing demand for high-definition televisions among consumers will help in the growth of the segment during the forecast period as satellite set-top boxes provide a wide variety of programs with clear visuals and immersive surround sound.
- Small and medium-sized enterprises (SMEs) require cars for the transportation of employees. Hence, car leasing is more cost-effective than buying a car.
APAC is Expected to Hold a Significant Share of the Market
- 44% of the market’s growth will originate from APAC during the forecast period. China, Japan, and India are the key markets for set-top boxes in APAC.
- Market growth in APAC will be faster than the growth of the market in other regions.
- The rising number of households with TVs, the decreasing TV subscription charges, and the decreasing prices of set-top boxes will facilitate the STB market growth in APAC over the forecast period.
- ABOX42 GmbH- The company offers M20 smart set-top box. Moreover, it caters different segment of the hardware manufacturing such as IPTV, OTT, Set Top Boxes, STB, IoT, Smart Home, and Cloud Services.
- Broadcom Inc.- The company offers set-top-box SoC solutions for video delivery. Moreover, the company works for Semiconductor solutions and Infrastructure software.
- CommScope Holding Co. Inc.- The company provides set-top box which offer video services with apps and web services including Netflix and YouTube.