Set-Top Box Market Size, Share & Industry Analysis, By Type (Cable Set-Top Box, IP Set-Top Box, Satellite Receiver Box and Others), By Content Quality (SD, HD, UHD, 4K & Above), By Sales Channel (Direct Selling, Retail Outlets, Third-Party Distributors, Online), By End-User (Residential, Commercial) And Regional Forecast, 2024-2032

Set-top box (STB) products have brought-up a revolution in the overall functioning of the television sets. STBs are essentially used at households and commercial places to provide high-quality television channels and other features to the users. Increasing demand for the internet and android features in the design of the STBs has changed the consumer perception towards purchasing of functionally enabled television set-top box setups. Rising demand for OTT streaming platforms such as Hulu, Amazon Prime, Hot star, and Netflix is expected to augment the consumption of the OTT streaming-based STB products.

Growing technological innovation in the design, features, and accessories fuel the demand for STBs among consumers. Other than innovation, effective marketing strategies as well as the establishment of effective relationships with the suppliers and vendors are the key performance indicators for the players operating in the market. Companies are constantly focusing on quality- price fit in order to gain the effective market performance of the set-top box product. Companies are keenly using merger and acquisition strategies to gain the advantage of the partner’s capability of technology innovation, distribution base, and promotional effectiveness.

Increasing adoption of the high quality & innovative home appliances products as well as growing income of the global population is expected to drive the demand for the STB products for the television sets. Additionally, a surge in demand for television sets among commercial places is likely to increase the consumption of set-top box products. Also, uncertain occurrences of pandemic diseases such as the current COVID-19 outbreak which has put restrictions on people to stay at their home for the longer duration has increased the consumption of the on-demand online streaming videos and is likely to drive the demand for the STB products.

Moreover, the rising adoption of consumers towards highly functionalized digital STBs over analog STBs has created a demand for newer digital technology-based products. Additionally, improvements in electronics retail outlets along with the rising e-commerce industry have provided convenience in the supply of electronic appliances products. However, governmental regulations regarding the limited usage of the frequency bandwidth for the set-top boxes are expected to hamper the market growth.

Key Players Covered:

The key companies operating in the global set-top box market are Ecostar Corporation, Samsung Electronics Ltd., ARRIS International, Huawei Technologies Ltd., DISH Network, HUMAX, CISCO Systems Inc., Skyworth Group, ADB Global, Technicolor, etc.

The global set-top box market is segmented by type, content quality, sales channels, end-user, and geography. By type, the set-top box market is segmented into cable set-top box, IP set-top box, satellite receiver box, and others such as OTT streaming box, DTTV set-top box. Cable set-top box segment is expected to hold a major share of the market owing to its affordability over the other types of STBs. Moreover, its wired connection helps to avoid the adverse effects of the high-frequency waves on the user’s body which may occur in case of other types.

By content quality, the market is segmented into SD, HD, UHD, and 4K & above. HD segment is projected to dominate the market owing to its affordability as compared to the UHD and 4K segments as well as its improved picture quality and sound quality over SD STB.

By the sales channel, the market is segmented into direct selling, retail outlets, third party distributors, and online. Third-party distributors segment is anticipated to hold a major share because of the provision of the after-sale services and the product information by the cable operators.

By the end-user, the market is segmented into residential and commercial segments. Commercial segments include hotels & restaurants, hospitals, offices, etc. The residential segment is expected to hold the largest share of the market owing to the increasing demand of the television sets among the households and residencies which is likely to increase the consumption of the STB products. For instance, as per the ‘Broadcast India’ Survey conducted in 2018 by BARC India, India had over 197 million TV homes in 2018 which increased from 183 million in 2016. 

Regional Analysis:

By geography, the market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. Asia Pacific region is expected to dominate the market owing to the large demand for the on-demand video services in countries such as China, Japan, and India. According to the Federation of Indian Chambers of Commerce & Industry (FICCI), as of 2018, paid video subscription revenue has increased by four-fold to USD 209.89 million from the time of launch of paid videos in India. Large language diversity in India is further propelling the video consumption in different languages in the country and is likely to drive the market. Additionally, the large presence of the set-top box cable operators as well as manufacturers such as Samsung Electronics Inc. and Huawei Technologies Ltd. and others in the countries such as Japan & China fuel the demand for the set-top box products.

South America region is projected to grow at a faster rate owing to the large demand for energy-efficient home appliances products which in turn expected to drive the consumption of the television sets and the set-top box products in the region. Additionally, large spending for the on-demand TV subscription under the platforms such as Netflix, Spotify, and others in the countries such as Argentina and Brazil, is driving the demand for the set-top box products for the on-demand video services. According to the Global Systems for Mobile Communication, in 2018, demand for paid-up TV/movie subscriptions in Brazil has increased to 23% of the population up from 18% in 2017.

Segmentation

Key Industry Developments

• In March 2020, Videocon D2H launched voice enabled and internet enabled android set top box with Alexa kit which uses android 9 operating software and has OTT access.


• In December 2019, Tata Sky launched Tata Sky Binge+, an android enabled DTH set top box which offers android features with 4K quality content. This new model uses android 9 version and is powered by 1.8GHz Broadcom BCM72604 B processor.