Set-Top Box Market Size, Share & Trends Report 2032

Set-Top Box Market: Industry Perspective

The global set-top box market size was worth around USD 25.23 billion in 2023 and is predicted to grow to around USD 32.68 billion by 2032 with a compound annual growth rate (CAGR) of roughly 3.04% between 2024 and 2032.

The report covers forecasts and analysis for the set-top box market on a global and regional level. The study provides historical data from 2018 to 2022 and a forecast from 2024 to 2032 based on revenue (USD Billion) and volume (K Units). The study includes drivers and restraints for the set-top box along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities and various trends in the set-top box market on a global level.

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Rising demand for satellite television and its connected set-top box has become a trend. The emergence of set-top boxes threatened to entirely stop the twenty-year-old monopoly of cable operators. It was clear since then that the set-top boxes will become an essential part of house entertainment packages shortly. The disappointment in service standards of cable operators led people to switch from satellite television along with set-top boxes. However, the traditional set-top box is under threat from competing with connected devices such as media streamers, smart TVs, and game consoles. All these devices can provide access to content from a variety of sources.  In order to gain a technological advantage, new features are added to set-top boxes such as SVoD and voice services.

Set-Top Box Market: Segmentation Analysis

The set-top box market is bifurcated based on product, technology, application, and region.

The product segment is divided into IPTV, satellite, cable, DTT, and OTT. The satellite segment holds a considerable market share due to the rising demand in the Asia Pacific region.

Based on technology, the set-top box is bifurcated into SD, HD, and 4K. The 4K segment is anticipated to grow at a considerable rate over the estimated timeframe. Based on application, the market is further segmented into residential and commercial. The residential segment is estimated to hold a substantial share of the market over the coming years.

Set-Top Box Market: Report Scope

Set-Top Box Market: Regional Analysis

Based on region, Europe is projected to grow at a notable rate over the forecast period. The transition to high definition has been one of the major media technology spending drivers in Europe. The convergence of OTT video services with IPTV and the shift of cable operators to IPTV service platforms are two drivers contributing to the growth of the set-top box market in Europe. The set-top box market in Europe is dominated by Western European Countries such as Belgium, France, Germany, and Spain, owing to the higher broadband penetration and better infrastructure. Moreover, the European digital cable industry is expected to grow faster, due to the rising demand for high-speed broadband services.

North America is anticipated to witness substantial growth and hold the largest market share in the near future. Canada and the United States are expected to boost the set-top box market in the region owing to the presence of renowned market players such as Apple Inc., Arris International Plc., and EchoStar Corporation, among others. The United States is also leading the North American set-top box market due to the increasing demand for high-speed communication and hybrid set-top boxes. Rising demand for BS digital broadcasting and digital terrestrial television is accelerating the growth of the set-top box market in North America. With a steep decline in the usage of native applications and a considerable shift towards app-based multi-screen and Over-the-Top (OTT) streaming experiences, the set-top box market is likely to witness immense growth over the forecast period.

Set-Top Box Market: Competitive Analysis

The global set-top box market is dominated by players like:

• Altech Multimedia (Pty) Ltd.
• Shenzhen Jiuzhou Electric Co., Ltd.
• Aventsecurity
• Coship Electronics Co., Ltd.
• Arris International, plc
• Echostar Corporation
• LG CNS Co., Ltd.
• Humax
• Huawei

The segmentation of the global set-top box market is as follows:

Global Set-Top Box Market: Product Segment Analysis

• Cable
• Satellite
• OTT
• IPTV
• DTT

Global Set-Top Box Market: Technology Segment Analysis

• SD
• 4K Set-Top Box  
• HD

Global Set-Top Box Market: Application Segment Analysis

• Residential
• Commercial

Global Set-Top Box Market: Regional Segment Analysis

• North America
  • U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa