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Set-Top Box Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

June 2023 | 137 pages | ID: S9C7B2FC77A2EN
IMARC Group

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Market Overview:

The global set-top box market size reached US$ 23.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 25.5 Billion by 2028, exhibiting a growth rate (CAGR) of 1.5% during 2023-2028. The rising awareness about sanitation and overall hygiene maintenance, increasing number of fast-food chains and quick service restaurants (QSRs) offering home delivery and takeaway options, and the growing environmental awareness among the masses represent some of the key factors driving the market.

Integration of Advanced Technologies Spurring Market Growth

The set-top box market has been experiencing moderate growth. Rapid digitization of cable networks and the advent of hybrid and smart set-top boxes (STBs) represent one of the major factors strengthening the market growth around the world. These STBs are used to access online videos and for digital video broadcasting. The media content can be streamed and played from the internet, a central repository, or any connected device.

Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. The market structure is fragmented with large number of small and medium-sized players operating in the industry. The volume of new entrants is moderate in the set-top box industry due to low entry barriers and low product differentiation.

What is Set-Top Box?

A set-top box (STB) unit, refers to an electronic device that receives, decodes, and displays signals from digital television (DTV) broadcasts on a television (TV). It comprises turners, system buses, decoders, graphic processors, storage devices, demultiplexers, and decryptors that coordinate access to files, programs, interfaces, and services. It is used in cable, satellite, and over the air (OTA) television systems. It helps in performing complex functions, including video conferencing, home networking, video on demand, and internet protocol (IP) telephony. It provides multiple channels at the request of the viewers and enables easy access to pay per view and premium channels. It also allows users to record the programs in real time and watch them later according to their convenience.

COVID-19 Impact:

The COVID-19 pandemic outbreak has caused a significant impact on the industry and imposed unprecedented challenges on numerous countries. With lockdowns and social distancing measures in place, people were spending more time at home, which increased the demand for home entertainment solutions. As a result, the set-top box industry saw a rise in sales during the early stages of the pandemic. However, the pandemic also resulted in supply chain disruptions, manufacturing shutdowns, and logistical challenges, which affected the production and distribution of STBs. As many countries implemented strict lockdown measures, which affected the workforce in the manufacturing and distribution sectors, resulting in delays and shortages in the supply of STBs. The closure of retail stores and reduced footfall in malls and shopping centers also impacted the sales of STBs as consumers shifted to online purchasing. In addition, manufacturers and retailers had to adapt to the changing consumer behavior by increasing their online presence and offering contactless delivery options. Moreover, with increased streaming services, traditional STBs faced stiff competition from smart TVs and streaming devices, which provided numerous content and features. This trend accelerated during the pandemic as people sought more convenient and cost-effective entertainment solutions.

Set-Top Box Market Trends:

The increasing preference of individuals towards seamless, high-quality video streaming, and value-added services, such as channel pack subscriptions, HD channels, and interactive videos, represents one of the major factors driving the demand for STBs around the world. Moreover, rapid urbanization, inflating income levels, improving standards of living, rising penetration of high speed internet connectivity, and the growing number of individuals spending on online video streaming platforms are some other factors influencing the market positively. In addition, the governments of numerous countries are mandating the installation of STBs. Apart from this, the integration of motion sensors, Bluetooth connectivity, the internet of things (IoT), virtual reality (VR), and artificial intelligence (AI) in STBs is creating a positive outlook for the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global set-top box market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on type, resolution, end-user, service type and distribution.

Type Insights:

Cable STB
Satellite STB
Digital Terrestrial Television (DTT) STB
Internet Protocol (IP) STB
Over-The-Top (OTT) STB

The report has provided a detailed breakup and analysis of the set-top box market based on the type. This includes cable STB, satellite STB, digital terrestrial television (DTT) STB, internet protocol (IP) STB, over-the-top (OTT) STB. According to the report, satellite STB represented the largest segment as it enables the television to receive signals directly from the satellite and decode digital television broadcasts. Moreover, the advent of direct-to-home (DTH) satellite business is influencing the market positively. In addition, the increasing disposable income levels and the rising consumer awareness towards the advanced features of satellite STB, including the show recording facility that enables the users to record the broadcasted TV programs and watch it later is favoring the market growth.

Resolution Insights:

HD (High Definition)
SD (Standard Definition)
UHD (Ultra-High Definition)

A detailed breakup and analysis of the set-top box market based on the resolution has also been provided in the report. This includes HD (high definition), SD (standard definition), and UHD (ultra-high definition). According to the report, HD (high definition) accounted for the largest market share as it offers high-definition picture quality with a faster processer speed. It is also equipped with advanced features, such as premium picture quality, vivid color presentation, and enhanced sound surround system, thereby providing an excellent viewing experience.

End User Insights:

Residential
Commercial
Others

A detailed breakup and analysis of the set-top box market based on the end user has also been provided in the report. This includes residential, commercial, and others. According to the report, residential accounted for the largest market share on account of the increasing affordability of smart TVs and the rapid proliferation of HD channels is favoring the market growth.

Service Type Insights:

PayTV
Free-to-Air

A detailed breakup and analysis of the set-top box market based on the service type has also been provided in the report. This includes PayTV and free-to-air. According to the report, PayTV accounted for the largest market share as it refers to the television services that are directly provided by satellite, cable, or television company. It also offers premium content that can be delivered according to the pay plan or on demand.

Distribution Insights:

Online Distribution
Offline Distribution

A detailed breakup and analysis of the set-top box market based on the distribution has also been provided in the report. This includes online distribution and offline distribution. According to the report, offline distribution accounted for the largest market share on account of the availability and favorable price options is influencing the market positively. Moreover, the increasing demand for entertaining content and advertisement by various global emerging brands is favoring the market growth.

Regional Insights:

Asia Pacific
Europe
North America
Middle East and Africa
Latin America

The report has also provided a comprehensive analysis of all the major regional markets, which include Asia Pacific, Europe, North America, the Middle East and Africa, and Latin America. According to the report, Asia Pacific was the largest market for set-top box. Rapid digitalization of cable TV networks and the increasing popularity of on-demand entertainment services, including movies, music, videos, and games, represent one of the major factors driving the demand for set-top box in the Asia Pacific region. Moreover, the easy availability of set-top box in online and offline stores is favoring the growth of the market in the region.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global set-top box market. Some of the companies covered in the report include:

ARRIS International
HUMAX Electronics
DISH Network 
Roku
Huawei Technologies 
Technicolor 
Apple Inc.
Google Inc.
Samsung Group
EchoStar Corporation
Shenzhen Skyworth Digital Technology Co. Ltd.

Please note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Questions Answered in This Report:

What is the size of the global set-top box market 2022?
What is the expected growth rate of the global set-top box market 2023-2028?
What are the key factors driving the global set-top box market?
What has been the impact of COVID-19 on the global set-top box market?
What is the breakup of the global set-top box market based on the type?
What is the breakup of the global set-top box market based on the resolution?
What is the breakup of the global set-top box market based on the end-user?
What is the breakup of the global set-top box market based on the service type?
What is the breakup of the global set-top box market based on the distribution?
What are the key regions in the global set-top box market?
Who are the key players/companies in the global set-top box market?
1 PREFACE

2 SCOPE AND METHODOLOGY

2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
  2.3.1 Primary Sources
  2.3.2 Secondary Sources
2.4 Market Estimation
  2.4.1 Bottom-Up Approach
  2.4.2 Top-Down Approach
2.5 Forecasting Methodology

3 EXECUTIVE SUMMARY

4 INTRODUCTION

4.1 Overview
4.2 Key Industry Trends

5 GLOBAL SET-TOP BOX MARKET

5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Type
5.5 Market Breakup by Resolution
5.6 Market Breakup by End-User
5.7 Market Breakup by Service Type
5.8 Market Breakup by Distribution
5.9 Market Breakup by Region
5.10 Market Forecast

6 MARKET BREAKUP BY TYPE

6.1 Cable STB
  6.1.1 Market Trends
  6.1.2 Market Forecast
6.2 Satellite STB
  6.2.1 Market Trends
  6.2.2 Market Forecast
6.3 Digital Terrestrial Television (DTT) STB
  6.3.1 Market Trends
  6.3.2 Market Forecast
6.4 Internet Protocol (IP) STB
  6.4.1 Market Trends
  6.4.2 Market Forecast
6.5 Over-The-Top (OTT) STB
  6.5.1 Market Trends
  6.5.2 Market Forecast

7 MARKET BREAKUP BY RESOLUTION

7.1 HD (High Definition)
  7.1.1 Market Trends
  7.1.2 Market Forecast
7.2 SD (Standard Definition)
  7.2.1 Market Trends
  7.2.2 Market Forecast
7.3 UHD (Ultra-High Definition)
  7.3.1 Market Trends
  7.3.2 Market Forecast

8 MARKET BREAKUP BY END-USER

8.1 Residential
  8.1.1 Market Trends
  8.1.2 Market Forecast
8.2 Commercial
  8.2.1 Market Trends
  8.2.2 Market Forecast
8.3 Others
  8.3.1 Market Trends
  8.3.2 Market Forecast

9 MARKET BREAKUP BY SERVICE TYPE

9.1 PayTV
  9.1.1 Market Trends
  9.1.2 Market Forecast
9.2 Free-to-Air
  9.2.1 Market Trends
  9.2.2 Market Forecast

10 MARKET BREAKUP BY DISTRIBUTION

10.1 Online Distribution
  10.1.1 Market Trends
  10.1.2 Market Forecast
10.2 Offline Distribution
  10.2.1 Market Trends
  10.2.2 Market Forecast

11 MARKET BREAKUP BY REGION

11.1 Asia Pacific
  11.1.1 Market Trends
  11.1.2 Market Forecast
11.2 Europe
  11.2.1 Market Trends
  11.2.2 Market Forecast
11.3 North America
  11.3.1 Market Trends
  11.3.2 Market Forecast
11.4 Middle East and Africa
  11.4.1 Market Trends
  11.4.2 Market Forecast
11.5 Latin America
  11.5.1 Market Trends
  11.5.2 Market Forecast

12 SWOT ANALYSIS

12.1 Overview
12.2 Strengths
12.3 Weaknesses
12.4 Opportunities
12.5 Threats

13 VALUE CHAIN ANALYSIS

14 PORTER’S FIVE FORCES ANALYSIS

14.1 Overview
14.2 Bargaining Power of Buyers
14.3 Bargaining Power of Suppliers
14.4 Degree of Competition
14.5 Threat of New Entrants
14.6 Threat of Substitutes

15 PRICE ANALYSIS

16 COMPETITIVE LANDSCAPE

16.1 Market Structure
16.2 Key Players
16.3 Profiles of Key Players
  16.3.1 ARRIS International
  16.3.2 HUMAX Electronics
  16.3.3 DISH Network
  16.3.4 Roku
  16.3.5 Huawei Technologies
  16.3.6 Technicolor
  16.3.7 Apple Inc.
  16.3.8 Google Inc.
  16.3.9 Samsung Group
  16.3.10 EchoStar Corporation
  16.3.11 Shenzhen Skyworth Digital Technology Co. Ltd.

LIST OF TABLES

Table 1: Global: Set-Top Box Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Set-Top Box Market Forecast: Breakup by Type (in US$ Billion), 2023-2028
Table 3: Global: Set-Top Box Market Forecast: Breakup by Resolution (in US$ Billion), 2023-2028
Table 4: Global: Set-Top Box Market Forecast: Breakup by End-User (in US$ Billion), 2023-2028
Table 5: Global: Set-Top Box Market Forecast: Breakup by Service Type (in US$ Billion), 2023-2028
Table 6: Global: Set-Top Box Market Forecast: Breakup by Distribution (in US$ Billion), 2023-2028
Table 7: Global: Set-Top Box Market Forecast: Breakup by Region (in US$ Billion), 2023-2028
Table 8: Global: Set-Top Box Market: Competitive Structure
Table 9: Global: Set-Top Box Market: Key Players
 


LIST OF FIGURES

Figure 1: Global: Set-Top Box Market: Major Drivers and Challenges
Figure 2: Global: Set-Top Box Market: Sales Value (in US$ Billion), 2017-2022
Figure 3: Global: Set-Top Box Market: Breakup by Type (in %), 2022
Figure 4: Global: Set-Top Box Market: Breakup by Resolution (in %), 2022
Figure 5: Global: Set-Top Box Market: Breakup by End-User (in %), 2022
Figure 6: Global: Set-Top Box Market: Breakup by Service Type (in %), 2022
Figure 7: Global: Set-Top Box Market: Breakup by Distribution (in %), 2022
Figure 8: Global: Set-Top Box Market: Breakup by Region (in %), 2022
Figure 9: Global: Set-Top Box Market Forecast: Sales Value (in US$ Billion), 2023-2028
Figure 10: Global: Set-Top Box Industry: SWOT Analysis
Figure 11: Global: Set-Top Box Industry: Value Chain Analysis
Figure 12: Global: Set-Top Box Industry: Porter’s Five Forces Analysis
Figure 13: Global: Set-Top Box (Cable STB) Market: Sales Value (in US$ Billion), 2017 & 2022
Figure 14: Global: Set-Top Box (Cable STB) Market Forecast: Sales Value (in US$ Billion), 2023-2028
Figure 15: Global: Set-Top Box (Satellite STB) Market: Sales Value (in US$ Billion), 2017 & 2022
Figure 16: Global: Set-Top Box (Satellite STB) Market Forecast: Sales Value (in US$ Billion), 2023-2028
Figure 17: Global: Set-Top Box (Digital Terrestrial Television STB) Market: Sales Value (in US$ Billion), 2017 & 2022
Figure 18: Global: Set-Top Box (Digital Terrestrial Television STB) Market Forecast: Sales Value (in US$ Billion), 2023-2028
Figure 19: Global: Set-Top Box (Internet Protocol STB) Market: Sales Value (in US$ Billion), 2017 & 2022
Figure 20: Global: Set-Top Box (Internet Protocol STB) Market Forecast: Sales Value (in US$ Billion), 2023-2028
Figure 21: Global: Set-Top Box (Over-The-Top STB) Market: Sales Value (in US$ Billion), 2017 & 2022
Figure 22: Global: Set-Top Box (Over-The-Top STB) Market Forecast: Sales Value (in US$ Billion), 2023-2028
Figure 23: Global: Set-Top Box (HD) Market: Sales Value (in US$ Billion), 2017 & 2022
Figure 24: Global: Set-Top Box (HD) Market Forecast: Sales Value (in US$ Billion), 2023-2028
Figure 25: Global: Set-Top Box (SD) Market: Sales Value (in US$ Billion), 2017 & 2022
Figure 26: Global: Set-Top Box (SD) Market Forecast: Sales Value (in US$ Billion), 2023-2028
Figure 27: Global: Set-Top Box (UHD) Market: Sales Value (in US$ Billion), 2017 & 2022
Figure 28: Global: Set-Top Box (UHD) Market Forecast: Sales Value (in US$ Billion), 2023-2028
Figure 29: Global: Set-Top Box (Residential) Market: Sales Value (in US$ Billion), 2017 & 2022
Figure 30: Global: Set-Top Box (Residential) Market Forecast: Sales Value (in US$ Billion), 2023-2028
Figure 31: Global: Set-Top Box (Commercial) Market: Sales Value (in US$ Billion), 2017 & 2022
Figure 32: Global: Set-Top Box (Commercial) Market Forecast: Sales Value (in US$ Billion), 2023-2028
Figure 33: Global: Set-Top Box (Other End-Users) Market: Sales Value (in US$ Billion), 2017 & 2022
Figure 34: Global: Set-Top Box (Other End-Users) Market Forecast: Sales Value (in US$ Billion), 2023-2028
Figure 35: Global: Set-Top Box (PayTV) Market: Sales Value (in US$ Billion), 2017 & 2022
Figure 36: Global: Set-Top Box (PayTV) Market Forecast: Sales Value (in US$ Billion), 2023-2028
Figure 37: Global: Set-Top Box (Free-to-Air) Market: Sales Value (in US$ Billion), 2017 & 2022
Figure 38: Global: Set-Top Box (Free-to-Air) Market Forecast: Sales Value (in US$ Billion), 2023-2028
Figure 39: Global: Set-Top Box Market: Online Distribution (in US$ Billion), 2017 & 2022
Figure 40: Global: Set-Top Box Market Forecast: Online Distribution (in US$ Billion), 2023-2028
Figure 41: Global: Set-Top Box Market: Offline Distribution (in US$ Billion), 2017 & 2022
Figure 42: Global: Set-Top Box Market Forecast: Offline Distribution (in US$ Billion), 2023-2028
Figure 43: North America: Set-Top Box Market: Sales Value (in US$ Billion), 2017 & 2022
Figure 44: North America: Set-Top Box Market Forecast: Sales Value (in US$ Billion), 2023-2028
Figure 45: Asia Pacific: Set-Top Box Market: Sales Value (in US$ Billion), 2017 & 2022
Figure 46: Asia Pacific: Set-Top Box Market Forecast: Sales Value (in US$ Billion), 2023-2028
Figure 47: Europe: Set-Top Box Market: Sales Value (in US$ Billion), 2017 & 2022
Figure 48: Europe: Set-Top Box Market Forecast: Sales Value (in US$ Billion), 2023-2028
Figure 49: Latin America: Set-Top Box Market: Sales Value (in US$ Billion), 2017 & 2022
Figure 50: Latin America: Set-Top Box Market Forecast: Sales Value (in US$ Billion), 2023-2028
Figure 51: Middle East and Africa: Set-Top Box Market: Sales Value (in US$ Billion), 2017 & 2022
Figure 52: Middle East and Africa: Set-Top Box Market Forecast: Sales Value (in US$ Billion), 2023-2028


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