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), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027

Published Date: Jan 2021  |  Report ID: GMI4922  |  Authors: Preeti Wadhwani, Prasenjit Saha

Report Format: PDF   |   Pages: 240   |   Base Year: 2020




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Set-Top Box Market size exceeded USD 17 billion in 2020 and is poised to grow at a CAGR of over 3% between 2021 and 2027. The market demand is driven by growing adoption of technologically advanced set-top boxes due to increasing disposable income and spending capacity in households globally.
 

Set-Top Box Market

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The proliferation of broadband and internet services coupled with the extensive availability of HD channels and on-demand video content is anticipated to support the industry expansion. Market factors including technological evolution and the introduction of flat-screen digital TVs have played an instrumental role in changing TV viewership trends. The introduction of 4K and UHD TV boxes will further augment the market growth. Moreover, the implementation of new government regulations on the digitalization of TV broadcasting in Asia Pacific and Latin America will provide robust growth opportunities for the market size.
 

Shifting presence of young audience toward streaming OTT content on personal devices, such as mobiles and laptops, are restricting the demand for TV set-top boxes. According to the estimated market data reported by the U.S. Census Bureau, in 2019, over 40% of the U.S. population comprises young adults between the ages of 18 – 35 years. A shift in the TV viewership trends among young adults is expected to adversely impact the industry statistics.
 

The global set-top box market has witnessed sluggish growth during the first quarter of 2020 owing to the rapid spread of the COVID-19 pandemic. Strict measures implemented by various governments for the containment of the virus have negatively impacted the ecosystem of the industry. Several challenges, such as trade and movement restrictions, have led to difficulties in the installation of new set-top boxes. In the first quarter of 2021, market leaders will focus on completing their order backlogs to maintain a consistent flow of revenues.
 

Set-Top Box Market Report Coverage
Report Coverage Details
Base Year: 2020 Market Size in 2020: 17 Billion (USD)
Historical Data for: 2017 to 2020 Forecast Period: 2021 to 2027
Forecast Period 2021 to 2027 CAGR: 3% 2027 Value Projection: 21 Billion (USD)
Pages: 240 Tables, Charts & Figures: 425
Geographies covered (16): U.S., Canada, U.K., Germany, France, Italy, Russia, China, India, Japan, South Korea, Brazil, Mexico, UAE, South Africa, Saudi Arabia
Segments covered: Type, Recording, Sales Channel, End-Use
Companies covered (16): 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, Zinwell Corporation
Growth Drivers:
  • Integration of advanced technologies in set-top boxes
  • Rising adoption of set-top boxes in commercial applications in North America
  • Increasing investments by TV service providers to enhance viewer experience in Europe
  • Supportive government regulations in Asia Pacific
  • Growing internet penetration and digitalization in Latin America and MEA
Pitfalls & Challenges:
  • Rising inclination towards consumption of content on personal devices

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Proliferation of affordable satellite STBs supporting the market growth

In 2020, the North America satellite set-top box segment accounted for 35% revenue share, with the unit sales of around 13 million units. The high market share of satellite STBs can be attributed to their ability to stream several SD and HD channels at affordable costs. Technological innovations and the integration of advanced features in satellite TV boxes will fuel to the market size expansion.
 

Satellite STBs are equipped with interactive features including electric program guide, video-on-demand, and real-time program recording. Advanced set-top boxes also offer multimedia and interactive services, such as instant messaging, email, and internet browsing, through television sets. The integration of advanced features along with basic functionalities will propel the adoption of satellite STBs.
 

Ease of making a purchase decision will drive the offline segment

Asia Pacific Set-Top Box Market

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The offline sales channel held over 20% Asia Pacific set-top box market share in 2020 owing to the ease of making a purchase decision by physically inspecting the products. Stores and shopping malls provide an extensive range of set-top boxes from different brands to maintain their product portfolio. Customers prefer offline shopping owing to the availability of various options, such as product testing and quality verification, before making the purchase decision.
 

Offline vendors install and configure the set-top box with the users’ existing television sets, which enhance the product utility for customers. The adoption of offline sales channels by various satellite and IPTV service providers, such as Verizon, DirevTV, TataSky, and Comcast, to sell their products and services will positively impact the market revenue.
 

Growing integration of recording facilities in STB units

The DVR segment in Europe is expected to witness a significant growth of over 3.5% through 2027. The ability of DVR set-top boxes to record and store TV programs for future viewing will augment the market demand. Hectic work schedules and busy lifestyles make people miss their favorite TV shows and sports matches. STBs integrated with digital video recording facilities enable them to view the recorded content as per their convenience. DVR STBs are also integrated with the ability to rewind, pause, and fast-forward TV programs, increasing their representation in the market.
 

Growing adoption of set-top boxes in households

The North America residential segment will witness a substantial growth rate of around 2.5% during the forecast timeframe led by the rapid adoption of set-top boxes in households. Government initiatives toward the digitization of TV broadcasting have propelled product penetration. The clarity in TV programs offered through satellites has significantly enhanced compared to conventional cable TVs, propelling the residential segment size in the market.
 

Increasing population is boosting the market demand in Asia Pacific

Asia Pacific Set-Top Box Market

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The Asia Pacific set-top box market size was over USD 6.5 billion in 2020 due to rapidly increasing population in the region. Asian economies including India, China, and Japan are witnessing a growing trend of population migration and urbanization. The rapid rise in the population has led to a steep increase in the number of DTH subscribers with a sizable increase in screen time. The urban population in Japan has increased significantly. As per the data reported by the World Bank, 91.6% of the Japanese population resided in urban areas in 2019.
 

Shifting consumer preferences toward media and entertainment along with the increasing penetration of the Internet will generate ample growth opportunities for the market. TV service providers, such as Airtel, Tata Sky, & Dish TV, in India are focusing on enhancing their service offerings. Upgrades in the services offered by TV service providers will fuel the product adoption.
 

Focus on technological advancements will propel the market share

The prominent players in the market are TechniSat Digital GmbH, Sercomm Corporation, Samsung Electronics, Kaon Media Co., Ltd., Mybox Technologies Pvt. Ltd. (Hero Electronix Venture), Sagemcom Broadband SAS, Technicolor SA, and ADB Global.
 

Industry players are primarily focusing on strategic partnerships and collaborations to develop advanced STBs integrated with new technologies. For instance, in May 2019, MyBox Technologies partnered with MSO e-Digital to integrate its STB models with Amazon Alexa services. Existing customers of e-Digital can connect the MyBox Alexa kit to their STB and access Alexa’s features. Technological advancements integrated into the existing systems will proliferate the market value.
 

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 2021 to 2027 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

 

Frequently Asked Questions (FAQ) :

The market size for set-top box was over USD 17 billion in 2020 and is expected to record around 3% CAGR up to 2027 owing to increased household spending and access to technologically advanced products.
North America market for satellite set-top box held 35% share in 2020, which represented a sale of close to 13 million units, due to streaming of channels at affordable costs.
More than 20% of APAC industry share was held by offline sales channels in 2020 as many customers still prefer physical inspection for buying the products.
The Europe market size from DVR segment is anticipated to witness around 3.5% CAGR over 2021-2027 owing to the feature of recording and storing TV programs.

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Premium Report Details

  • Published Date: Jan 2021
  • Pages: 240
  • Tables: 403
  • Charts / Figures: 22
  • Companies covered: 16
  • Countries covered: 16

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