Set-Top Box Market - By Type (Cable, Satellite, IPTV/OTT, Hybrid), By Recording (DVR, Non-DVR), By Sales Channel (Online, Offline), By End-use (Residential, Commercial) & Forecast, 2023 – 2032

Set-Top Box Market Size

Set-Top Box Market size exceeded USD 20 billion in 2022. Driven by the surging adoption of set-top boxes in commercial sector globally, the industry will grow at over 5% CAGR from 2023 to 2032.
 

Rising demand for television sets in commercial spaces such as restaurants, hotels, offices, and hospitals to enhance the overall user experience has increased the demand for set-top boxes globally. Moreover, a surge in the tourism industry post-COVID-19 has resulted in an increase in hotel and restaurant construction activities, creating a strong demand for the product. As per the UNWTO, in 2023, international tourist arrivals could reach 80-95% of pre-pandemic level.

However, growing consumer inclination towards OTT platforms may limit industry growth. Rising per capita income has increased middle and upper-middle-class consumers’ spending on OTT platforms. Moreover, these platforms have high availability of extensive kinds of free and premium content and offer the flexibility to watch on any device at any point in time. Rising broadband connections have turned many viewers from cable TV to OTT platforms.
 

Set-Top Box Market Analysis

Set-top box market size from the residential end-use segment will be USD 25 billion by 2032. The growing adoption of smart home technology has increased the demand for set-top boxes in residential spaces. In fact, many set-top box companies provide voice control and integration capabilities with other smart home devices such as home automation systems, smart speakers, and others.
 

Rising product innovations are also expected to create a broad scope for segment expansion. For instance, in July 2021, Sagemcom Broadband SAS, a leading set-top box manufacturer unveiled the release of an IP/DVB-T2 Ultra HD Set-top Box equipped with Wi-Fi 6 technology providing a free placement within a household, eliminating the need for a wired connection to internet box.
 

Based on type, set-top box market size from satellite segment will be over USD 10 billion by 2032. Rising demand for high-quality video content, specifically in remote and rural areas with limited cable and internet access has increased the product uptake. Satellite TV provides wider geographical coverage and has better picture quality. Additionally, its installation is less complex and is more cost-effective as compared to hybrid counterparts, which will further fuel product consumption.
 

North America set-top box market size will see over 3% CAGR through 2032. Rising broadband and internet penetration have increased the demand for set-top boxes in the region. In fact, the governments in the region are investing heavily to improve internet accessibility in remote areas. In April 2023, the U.S. government announced that it would invest USD 40 million to provide high-speed internet access to people in rural areas of New Mexico. Moreover, increasing consumer preference for media content over traditional television is also likely to stimulate regional industry expansion.
 

Global Set-Top Box Market Share

• CommScope, Inc. (Arris)
• Kaon Media Co.,Ltd.
• Skyworth Digital Co., Ltd
• Sagemcom Broadband SAS
• HUMAX Co., Ltd
• Samsung Electronics
• Technicolor SA
   

Set-top box industry news:

• In September 2022, Vestel, a European manufacturer of consumer electronics unveiled its new 97XX Series of 4K UHD set-top boxes. Given their minimalist and ultra-compact design, which includes options for smart and non-smart set-top boxes, these set top boxes are designed to provide exclusive value and an uninterrupted home entertainment experience.
   
• In April 2022, two major cable companies, Comcast and Charter Communications inked a deal to offer customers set-top boxes for video streaming and gain a competitive edge over industry players such as Roku & Amazon. In this 50-50 joint venture, Charter was to distribute streaming devices based on Comcast’s technology.
   

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 2032 for the following segments:

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By Type

• Cable
• Satellite
• IPTV/OTT
• Hybrid

By Recording

• DVR
• Non-DVR

By Sales Channel

• Online
• Offline

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
  • UAE
  • South Africa
  • Saudi Arabia