Author: Himanshu Patni
21 February 2022
The global Set-top Box market is expected to grow significantly by 2027 expanding at a reasonable CAGR of around 5% during the forecast period (2021-2027).
A set-top box is a hardware device that allows a digital signal to be received, decoded, and displayed on a television. The signal can be a television signal or Internet data and is received via cable or telephone connection. A rise in internet penetration coupled with the surging 4G or 5G technology globally is leading to the growth of the market. It was expected that globally, almost 85% of the population will be covered by a 4G network at the end of 2020. Moreover, between 2015-20, 4G network coverage increased two-fold globally
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A rise in the number of fixed-broadband subscriptions is one of the key factors contributing to the growing market of the set-top box. During the COVID-19 pandemic, the high-speed fiber internet subscriptions surpassed copper-wire DSL connections across OECD countries for the first time in 2020 and the pandemic led to a record 21.15 million new fixed broadband connections (including fiber, DSL, cable, and others) in the year to end-December 2020. Overall, fixed broadband subscriptions in OECD countries totaled 454 million as of December 2020, up from 433 million a year earlier, and averaged 33.2 subscriptions per 100 inhabitants. Switzerland led the pack with a penetration rate of 47.5 subscriptions per 100 people, followed by France (45.6%), Norway (44.6%), and Denmark (44.2%). The latest update to the OECDbroadbandportal shows that fiber now exceeds 30% of fixed broadband subscriptions across the OECD’s 38 member countries, up from 12% a decade ago, and is by far the fastest-growing broadband technology, with subscriptions up 14% in 2020 from 2019, outpacing a 5% rise in overall fixed broadband subscriptions
The government across countries announced the regulations for mandating the installation of set-top boxes, deployment of open OS-based devices by STB vendors, and analog switch-off transition in emerging countries are further driving the demand of the set-top box market. For instance, the Government of India has made STBs compulsory through an amendment to the Cable Television Networks (Regulation) Act
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The COVID-19 pandemic led to lockdowns imposed by the government to curb the spread of the virus. The lockdown imposed across countries has affected the supply chains of various telecom service providers. In September 2021, Airtel DTH arm announced plans to stop imports of high-definition set-top boxes by the end of 2021 to tackle the Covid-19 induced supply chain disruption and make locally-developed set-top boxes.
Based on the product type, the market is fragmented into Cable, Satellite, IPTV, DTT, and OTT. The cable segment grabbed XX% market share and the market would reach USD XX Mn by 2027. Cable TV remains the most popular platform for creating awareness and spreading messages among the masses, several cable service providers are improving their technology and service offerings. However, the OTT segment would witness the highest CAGR in the forthcoming years.
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Based on the resolution type, the market is fragmented into HD & Full HD, 4K & Above. The HD& full HD segment grabbed the major market share in 2020 and dominated the market. The benefits of HD & full HD set-top box as standard Definition set-top box can typically access standard definition channels, while an HD & Full HD set-top box can show both standard definition and the high-definition channel is leading to the growing demand of this segment.
Additionally, the report provides detailed initiatives that are being taken in the field of Artificial Plants. The market is classified into distinct regions including North America (the U.S, Canada, Rest of North America), Europe (Germany, France, Spain, Italy, and United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and the Rest of APAC), Rest of World has been conducted. North America region dominated the market and grabbed major market share in 2020. An increase in digital entertainment penetration among rural and urban populations across the region is one of the main factors influencing the market growth positively. However, the Asia Pacific region is expected to witness the highest CAGR during the forecast period.
Global Set-top Box Market Segmentation
Market Insight, by Product Type
Market Insight, by Resolution Type
Market Insight, by Region
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