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A set-top box (STB) or set-top unit (STU) is an information appliance hardware device that used to receive, decode, and display digital television broadcasts. Set-top boxes are most frequently used in various cable television and satellite applications. The rising demand for over-the-top (OTT) platforms and services such as Netflix, Amazon Prime Video, Hulu, and others is anticipated to boost the market growth. Also, increasing demand for 4K high-quality in-home entertainment is expected to drive the demand of the 4K set-top box. Key players in this market are focusing on new product launch to improve customer experience. For instance, in January 2020, Tata Sky, an Indian DTH operator launched "Tata Sky Binge+", a new Android-based 4K set-top box to provide a seamless experience to their customers. However, the high subscription cost for ultra-HD video content and lack of high-speed broadband connections and the data storage infrastructure are anticipated to hinder market growth.
Key Market Driver -
• Increasing penetration towards 3D and 4K smart TVs is fuelling the market growth. • Rising adoption of IPTV/OTT STB devices is driving the market growth.
Key Market Restraint -
• The low scope of customer retention is expected to impede the market growth.
Various manufacturers and service providers are focused on offering enhanced and advanced 4K STBs to gain competitive edge in the market. Key players are also focused on R&D investments in 4K smart solutions to cater to the rising demand from the consumers. Also, rising preference of customers towards 3D, UHD, and interactive TV is expected to present growth opportunities for new market entrants. Some of the key competitors in the 4K set-top box market are Comcast Corporation, Roku Inc., Infomir LLC, Amazon.com, Inc., ABOX42, Huawei Technologies, Arris International, HUMAX, Broadcom, Technicolor SA and others.
North America is expected to lead the market by capturing maximum share during the forecast period. The growth in this region is attributable to the rising penetration towards implementing 4K HD and smart TVs, rising per capita income among consumers, and the increasing investments on 4K technology. Key players in this region are focused on deploying 4K set-top box to improve customer demand. For instance, in July 2019, TDS Telecom and Arris International planned to deploy an Android TV-based VIP6102W UHD IP set-top solution for the TDS TV+ cloud-based video platform. This solution will address the end-user demand for an efficient, easy-to-use, and simple video solution.
The market in the Asia Pacific is expected to exhibit healthy growth owing to the presence of key market players such as ZTE Corporation, Huawei Technologies, and others. These key market players are focused on new product development strategy to enhance the product portfolio. For instance, in September 2019, ZTE Corporation launched its new 4K Hybrid dongle set-top box (STB) at International Broadcasting Convention (IBC) 2019 in Amsterdam to expand its customer base.
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