Home > Media & Technology > Media and Entertainment > Audio Video > Set-Top Box Market
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.