According to a new market research report published by Acute Market Reports “Set-top Boxes Market (Cable Television STB, Satellite Television STB, IPTV STB and Hybrid STB) - Growth, Share, Opportunities, Competitive Analysis and Forecast 2015 - 2023”, the set-top boxes market is projected to expand majorly due to digital switchover of television service worldwide. With most of the countries globally setting deadlines to achieve 100% digital television transition, market is expected to register strong growth in the near future.
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The set-top box is among the prime components of the digital television ecosystem. It refers to a receiving device used to convert the received content to a format compatible with the user’s television. Due to increasing shift towards digital television, the market for set-top boxes has witnessed paradigm shift in the last few years. Moreover, with widespread digital television transition worldwide, the market is projected to rise significantly in the coming years. Apart from the digital television transition, the market is strongly driven by the rising advancements in the television broadcasting. The introduction of high definition (HD) and ultra-high definition (UHD) television channels has led to a promising replacement trend in the market. Most of the subscribers worldwide are now shifting towards HD and UHD subscription resulting into continued demand for STBs.
The global set-top boxes market is broadly segmented on the basis of type, video resolution and geographical regions. Based on the video resolution, the market is segmented into standard definition (SD), high definition (HD) and others. The others segment comprises the advanced video resolution channels such as UHD and 8K. Due to growing adoption of high-end television sets worldwide, the others segment is expected to register the highest growth in the coming years. Further, on the basis of type, the market is segmented into cable STB, satellite STB, IPTV STB and hybrid STB. The satellite television STB segment currently dominates the market and is expected retain its position in the coming years. On the basis of geographical regions, the market is segmented into North America, Europe, Asia Pacific and Rest of the World.
Some of the major players in the set-top boxes market include Cisco Systems, Inc., ARRIS Group, Inc., HUMAX Electronics Co., Ltd., Technicolor SA, Huawei Technologies Co., Ltd., ADB (Advanced Digital Broadcast) SA, Samsung Electronics Co. Ltd., Apple, Inc., EchoStar Corporation and Kaonmedia Co. Ltd. among others. The market is fragmented in nature with global players facing significant competition from the regional players. One of the major strategies adopted by the companies is acquisition and partnerships with other players. Acquisition of Customer Premises Equipment (CPE) segment of Cisco Systems, Inc. by Technicolor SA is one of the most prominent instance.
