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Set-Top Box Market Size
- Report ID: GMI4922
- Published Date: May 2023
- Report Format: PDF
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.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Set-Top Box Market Size in 2022: | USD 20 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 5% |
| 2032 Value Projection: | USD 30 Billion |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 290 |
| Tables, Charts & Figures: | 520 |
| Segments covered: | Type, Recording, Sales Channel, End-Use, and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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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.
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Set-Top Box Market Scope
