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Set Top Box Market Segment Analysis By Key Players, Drivers, Regional, Competitive Landscape & Forecast To 2023 | COVID-19 Effects

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Ehtesham Peerzade

Market Highlights

Set-top boxes (STB) are external hardware which picks up satellite signals for normal and smart televisions. The emergence of OTT platforms and nominal prices for high resolution content on channels is likely to culminate in cord-cutting and adoption of these boxes. The global set-top box market report by Market Research Future (MRFR) contains accumulated data on cable viewing statistics, consumption of content, and other dynamic variables for the period of 2017 to 2023 (forecast period). The impact of the COVID-19 outbreak on the industry has been taken into account for revising industry projections.

According to Market Research Future (MRFR), the global set-top box market is estimated to hit a size of USD 26,630.4 million with a CAGR of 7.2% from 2017 to 2023 (forecast period). The report provides a precise description of the impact analysis of the Covid-19 by applications and regions.

Market Dynamics

The use of a set-top box has been widespread in recent years. Various factors are related to the upsurge of the set-top box market. In addition, the growing affordability of smart TV, combined with the rapid expansion of HD channels, also affects market development. The rise of over-the-top (OTT) services allowed viewers to access the content of their choice without paying any additional cost. Such factors have a favorable effect on the set-top box market.

Segmentation:

By product type, set top box market size is segmented into over-the-top content (OTT), internet protocol (IP) TV, digital terrestrial television, cable, satellite, and others. The satellite segment accounted for close to 28% market share with a valuation of USD 4,884.1 million in 2017.

By content quality, it is segmented into standard definition, high definition, and 4K. The high definition segment is predicted to exhibit 5.8% CAGR over the forecast period. This is driven by the high picture and sound quality of HD content.

By services, it is divided into managed Services (Testing, Repairing, and Screening) and interactive services (Video on Demand, Video Conferencing, and High-Speed Internet Television). The interactive services segment is deemed to perform exceptionally owing to the popularity of on-demand services by the public.

End users of set-top boxes are commercial and residential. The residential segment accounted for 75.90% in 2017. It can continue to be the biggest revenue generator till 2023 owing to the high viewership in residential households.

Regional Analysis

The global market for set-top box has been segmented into North America, Europe, Asia Pacific, and the rest of the world.

The Asia Pacific is expected to spearhead the global set-top box market during the forecast period. Asia Pacific accounted for 39.52% of its market share in 2017 and is estimated to have a CAGR of 8.8% over 2023. Factors such as the widespread adoption of virtual and augmented reality (VR & AR), IoT integration, and rising per capita income boost the growth of the Asia Pacific set-top box industry. At the same time, growing viewership in countries like India, China, and Indonesia boosts the set-top box market in the region. Policy reforms and advances in the telecom sector are also important factors that increase investor’s confidence in the Asia Pacific.

Key Players

Huawei Technologies Co. Ltd., Apple Inc., Samsung Group, Google LLC, ARRIS International plc., Skyworth Digital Holdings Limited, EchoStar Corporation, Sagemcom SAS, Kaonmedia Co, Ltd., Technicolor SA, Vishay Intertechnology, Inc.

The global set-top box market is characterized by many service providers, some of which operate at a regional level and others at a national level. Market players are actively focusing on advancing their service offerings to remain competitive and to strengthen their market position.

Also Read: http://www.marketwatch.com/story/set-top-market-growth-is-driven-by-high-viewership-cable-tv-set-top-box-market-size-share-trends-opportunities-and-covid-19-analysis-2020-09-03 

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