Electronics
Set Top Box Market Driven by Robust Adoption of UHD Channels
A set top box is an information appliance device, which includes a smart digital box. It consists of an input tuner, which decodes the cable and satellite broadcasts and enables the television to display the outputs. According to the new market research report of IndustryARC, global set-top box market size was around $16.5 billion to $18 billion in 2018 and is anticipated to grow with a notable CAGR ranging from 6% to 7% over the forecast period 2019-2025. This growth is due to the expanding demand for mandatory television digitization and robust adoption of ultra-high definition channels.
The growing demand of people for high-quality content and sound is the key factors assisting the growth of the set-top box market. For instance, around 7.9 billion people tuned the television to watch the World cup online in 2017, as it provides HD picture quality and sound quality. The special functionality of recording and storing the programs had brought the new-found demand and popularity for the global set-top box market. Additionally, the viewers can choose their desired channels and pay accordingly, which provides more flexibility to the users. These factors altogether driving the global set up box market in the near future.
As per the analysts of IndustryARC, satellite service providers are the key stakeholders of setting up box market, which is projected to grow at CAGR between 7%-9% through to 2025. Most of the consumers preferring satellite services for high definition channels when compared to standard definition channels. Asia-Pacific is dominating the Set Top Box Market, due to the growing usage of television services across the region. This information is taken from the report titled “Set Top Box Market: By Type (Cable, Satellite, Internet Protocol, Digital Terrestrial Television, Over the Top and Others); By Content (High Definition, Standard Definition, and Others) – Forecast (2019 - 2025).”
Global Set Top Box Market Companies: Recent Developments
Huawei Technologies Co. Ltd., ARRIS International, DISH Network, HUMAX Co. Ltd., Technicolor, Samsung Electronics Limited, EchoStar Corporation, Coship Electronics Co. Ltd., Cisco Systems, Inc., ADB Global are some of the major players influencing the global set up box market for further growth and expansion.
- In 2017, Huawei Technologies launched World’s first Dolby Vision HDR technology based set up box for internet protocol television (IPTV). The launch of this product is a part of its partnership with Dolby Laboratories. This setup box provides greater brightness and contrast coupled with a palette full of HDR colors and IPTV services. Thus, this device gained traction from various industries including broadcast, gaming, music, and entertainment.
- ARRIS International signed a partnership with CommScope, a leading provider of infrastructure solutions for communication networks. The main goal of this acquisition is to ensure better network convergence, mobility services and internet-based set up boxes to the broader public. This, in turn, bolstered the demand for upgraded setup boxes.
