The global set top box market is projected to witness considerable demand during the forecast period owing to increasing penetration of High Definition (HD) channels among consumers coupled with the increasing adoption of smart TVs. Further, increasing consumption of hybrid content, rising internet penetration, digitization in emerging economies, and increasing demand from commercial sector are some other factors that drive the growth of the global set top box market.
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Moreover, the increasing consumption
of over the top (OTT) content on smartphones and other handheld devices is
another key driver for the growth of the set top box industry. The extensive
use of smartphone along with increasing internet penetration has enabled the
customers for staying up to date with the digital world, reducing the need for
waiting. The increasing penetration of the smartphone is one of the major
factors contributing to the growth of the market.
Moreover, increasing trend
towards on-demand video streaming service further contributes to the growth of
the global market. On-demand video streaming provides the users with the
liberty in accessing video content on televisions and mobile devices,
regardless of time, where several providers make the content available to the
customers. On-demand video streaming services offer a broad array of video
program including entertainment, films, sports, and educational programs. OTT
content can be accessed via OTT set-top boxes, OTT devices, smart TVs, and
others. Thus, increasing consumption of OTT content will increase the demand
for OTT set top box; thereby, surge the growth of set top box industry.
Moreover, the market in the
Asia-Pacific region is estimated to exhibit considerable growth due to
contribution from the economies such as China, Japan, and India. In addition,
increasing population base coupled with the increasing smartphone penetration
further drives the growth of the market in the Asia-Pacific region.
Key players in the set top box
market includes cable providers, digital satellite providers, and
telecommunication companies. Major infrastructural providers are adopting
strategies such as partnership and collaboration and mergers with content and
software providers owing to the increasing need for better interactive content.
Global Set Top Box Market Segmentation
By Type
• Cable
• IPTV
• Satellite
• Others
By Content
• SD Set Top Box
• HD Set Top Box
• 4K Set Top Box
Global Set Top Box Market Segment by Region
North America
• US
• Canada
Europe
• Germany
• UK
• France
• Spain
• Italy
• Rest of Europe
Asia-Pacific
• China
• Japan
• India
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East and Africa
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