Set-top Boxes Market to reach US$ 21.64 Bn by 2022
According to a new market research report published by Credence Research “Set-top Boxes (Cable Television STB, Satellite Television STB, IPTV STB and Hybrid STB) Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 – 2022”, the global set-top boxes market was valued at US$ 13.54 Bn in 2014 and is estimated to expand with a CAGR of 5.9% from 2015 to 2022.
Browse the full report at http://www.credenceresearch.com/report/set-top-boxes-market
Market Insights
Set-top boxes (STB) refer to receiving devices that are plugged into televisions for reception of broadcast signals. The primary function of set-top boxes is to convert the content broadcasted by the service providers in a format compatible with the user/subscriber’s television. The global set-top boxes market is strongly governed by the mandatory switchover from analogue to digital television reception. Due to nearing deadlines, the sale of set-top box units is expected to soar substantially in the coming years.
Further, the market is also supported by the rising advancements in the television channels. Due introduction of high definition (HD) television channels, most of the subscribers worldwide are now shifting towards HD subscription. As a result, a trend of set-top box replacement has emerged and is expected to continue the market growth. Additionally, with emergence of ultra-high definition (UHD) television sets, service providers are now turning towards providing UHD content.
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The global set-top boxes market is segmented on the basis of type, video resolution and geographical regions. On the basis of type, the market is segmented into cable STB, satellite STB, IPTV STB and hybrid STB. The market is currently dominated by the satellite television STB segment. Further, the market is segment, based on the video resolution, into standard definition (SD), high definition (HD) and others. The others segment comprises the advanced video resolution channels such as UHD and 8K. In the coming years, the UHD segment is expected to register the highest growth worldwide. Geographically, the market is segmented into North America, Europe, Asia Pacific and Rest of the World.
Competitive Insights
The global set-top boxes market is highly competitive in nature with large number of global as well as regional players. The satellite STB, IPTV and hybrid STB segments are majorly dominated by the global players such as Cisco Systems, Inc., Technicolor SA, ARRIS Group, Inc., HUMAX Electronics Co., Ltd. and others. The market is fragmented in nature. However, the scenario may change over the period of time due to ongoing acquisitions and partnerships in the market. Some of the prominent instances include Cisco Systems, Inc. & Technicolor SA and ARRIS Group, Inc. & Pace Plc.
Key Trends
Merger & acquisition for betterment of market position
Set-top boxes for HD and UHD television service
Advanced set-top boxes including features such as video recording and hybrid connectivity
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