Set-Top Box Market Size, By Type (Cable, Satellite, IPTV/OTT, Hybrid), By Recording (DVR, Non-DVR), By Sales Channel (Online, Offline), By End-use (Residential, Commercial), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022 – 2028

Industry Trends

Set-Top Box Market size valued at USD 15 billion in 2021 and is anticipated to grow at a CAGR of over 3.5% from 2022 to 2028. Increasing consumer disposable incomes and spending capacity of consumers are key market factors accelerating set-top box adoption globally.
 

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The proliferation of internet services and broadband coupled with on-demand video content & HD channels is expected to support the market growth during the forecast period. Market factors including technological developments, such as 4K & 8K support, and smart home service integration in STBs are positively influencing TV viewership trends. The launch of new UHD and OTT boxes by industry participants will further contribute to the market expansion. Various government initiatives to speed up the digitalization of TV services, especially in Latin America and APAC, will create robust market opportunities.
 

Rising OTT content streaming on electronic devices, such as laptops, tablets, and smartphones, is adversely affecting set-top box demand. According to the data by India Brand Equity Foundation (IBEF), the Indian OTT sector witnessed 29 million subscribers in July 2020, which was 30% more compared to March 2020. Moreover, the lower subscription prices of OTT platforms compared to TV channels and their multiple features including remote accessibility are predicted to impact industry statistics.
 

The market was hit by the outbreak of COVID-19 in 2020 and 2021. Various industry challenges including restriction on social movements and product shortage due to the ban on transportation resulted in a significant slowdown in new set-top box installations. Market leaders, such as Broadband SAS, Mybox Technologies Pvt Ltd., Kaon Media Co., Ltd., and TechniSat Digital GmbH, experienced significant financial losses amid the pandemic. However, the industry is slated to showcase steady demand post-pandemic owing to shifting consumer focus toward enhanced TV viewing experience.
 

Increasing demand for satellite STBs is stimulating the market progression

The satellite set-top box segment captured more than 35% of the market share in 2021. Satellite set-top boxes are the most preferred STBs owing to their reasonable device cost, lightweight, and compact design than IPTV & hybrid STBs, thereby contributing to the industry value. Furthermore, satellite set-top box offers a wide range of national and international channels, keeping users updated with the latest whereabouts across the globe.
 

Advanced satellite set-top boxes are equipped with multiple features such as live program recording, VoD & multimedia interactive services, which play a vital role in expanding the industry expansion. Manufacturers are focusing on speeding up their satellite STBs production to optimize their inventories.
 

Shifting focus toward DVR STBs for flexible TV watching

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The DVR segment in the set-top box market is projected to register 4.5% growth rate through 2028. The ability of DVR set-top boxes to record and store TV programs plays a vital role in propelling their market demand. These STBs can fast-forward, pause, and rewind TV programs, improving their market share across the globe. Working professionals prefer DVR STBs to watch their missed favorite shows during their leisure time.
 

The ability of offline sale channels to offer actual product experience and personalized attention

The global offline sales channel dominated more than 70% of revenue share in 2021. Various STB OEMs and e-commerce market players are opening new offline stores to enhance the consumer shopping experience and to improve their market statistics.
 

Growing demand for set-top boxes in the residential sector will augmenting the market value

Residential sector is poised to expand at more than 4% CAGR through 2028. Supportive government initiatives for TV broadcasting are creating a positive market outlook for STBs worldwide. Market leaders are establishing strategic partnerships with key players, such as SFR and Orange, which will support the industry growth.
 

Significant population and urbanization in APAC are improving the market representation

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Asia Pacific set-top box market accounted for over USD 7 billion in 2021. Rising population and urbanization in APAC are creating robust market opportunities for STBs. Various countries, such as India, China, Japan, and Australia, are witnessing considerable migration, which resulted in an increasing demand for consumer electronic products. Companies are also investing in R&D for product innovations and technology upgrades.
 

OEMs focus on new product innovations to improve their revenue

Prominent players operating in the market are Advanced Digital Broadcast SA, Amino Technologies plc, Commscope, Inc. (Arris), Guangdong Hybroad Vision Electronics Technology Company Ltd., HUMAX Co., Ltd., Kaon Media Co., Ltd., Mybox Technologies Pvt. Ltd. (Hero Electronix Venture), Sagemcom Broadband SAS, Samsung Electronics, Sercomm Corporation, Shenzhen SEI Robotics Co., Ltd., Skyworth Digital Co., Ltd., Sumitomo Electric Industries, Ltd., Technicolor SA, TechniSat Digital GmbH, and Zinwell Corporation.
 

Market leaders are establishing strategic partnerships for new technology innovations and to increase their STB sales. Companies, such as Skyworth Digital Co., Ltd. and Amino Technologies plc, are focusing on improving their STB service offerings.
 

The set-top box market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and shipment in terms of units from 2022 to 2028 for the following segments:

Market, By Type

• Cable
• Satellite
• IPTV/OTT
• Hybrid

Market, By Recording

• DVR
• Non-DVR

Market, By Sales Channel

• Online
• Offline

Market, By End-use

• Residential
• Commercial

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
• Latin America
  • Brazil
  • Mexico
• MEA
  • Saudi Arabia
  • UAE
  • South Africa