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4K Set-Top Box Market: Segmented: By Product Type (Satellite STBs, Cable STBs, Hybrid STBs, IPTV/OTT STBs [Internet Protocol Television/Over-the-Top], Others [DTT {Direct Terrestrial Transmission}, etc.]), By Application (Residential, Commercial), And Region - Global Analysis of Market Size, Share & Trends For 2019-2021 And Forecasts To 2031
4K Set-Top Box Market to surpass USD 9.4 billion by 2031 from USD 5.7 billion in 2021 at a CAGR of 5.2% in the coming years, i.e., 2021-2031.
As technology advances, a diverse selection of STBs with varied characteristics has been available. This has resulted in heated competition among set-top box vendors. An over-the-air digital video recorder (DVR) system is a standalone set-top box that allows viewers to send and record programs. Consumers can buy STBs from subscription-based N service providers in addition to DVRs. DISH Network, a television provider based in the United States, has included artificial intelligence (Al) in its new set-top boxes to allow for recording capabilities. Companies are combining features like voice command with technology like natural language processing (NIP) to make browsing for channels and shows easier.
Factors such as an increasing emphasis on crystal-clear broadcast quality and a desire to fully utilize the capabilities of 4K televisions have aided the gradual entry of 4K STBs into the niche economic class. Modern customers are projected to move their preferences from standard and high definition (HD) STB consoles to 4K STB consoles as the need for high-quality in-home entertainment grows.
Global 4K Set-Top Box Market: SegmentsOn the basis of Product Type, the global 4K Set-Top Box Market is fragmented into Satellite STBs, Cable STBs, Hybrid STBs, IPTV/OTT STBs (Internet Protocol Television/Over-the-Top), and Others (DTT (Direct Terrestrial Transmission), etc.). The satellite segment is growing as more people seek high-quality broadcasts and mechanisms for recording shows to watch later. Television is one of the most important aspects of the setup box industry, and the setup box's ability to record shows promotes the market's growth. Viewers will have the option of recording it in real time and watching it afterwards.
Global 4K Set-Top Box Market is classified on the basis of application into Commercial, and Residential. The occupant makes considerable use of the set-top box and television. In 2017, the residential segment took the largest portion of the market, with a significant market value. The residential category is predicted to outperform the commercial segment over the projection period. In addition, as the population grows, so does the demand for 4K STBs, which has an impact on segment growth.
Market DynamicsThe Growing Smart Television Penetration and Advancements in Digital Broadcasting Industry
The growing popularity of smart televisions, as well as rapid improvements in the digital broadcasting industry, are likely to drive demand for set-top boxes around the world. For a competitive edge in the industry, significant businesses have been forced to create OTT-based set-top box devices due to the growing popularity of internet-based entertainment and OTT platforms. The Set-Top Box Market Demand is predicted to be fueled by rising urbanization, digitalization, and economic development in developing economies.
Higher Demand for High-Definition Video Quality
As the popularity of social media platforms grows among consumers, so does the need for high-definition video. The Set-Top Box Market is propelled by the low cost of televisions and cost-effective internet-based set-top box devices. The market has been driven to include innovative features in set-top boxes as a result of the desire for video quality and the expansion of technology.
The increasing number of the OTT Platforms and Easy Subscription to Services
The increased popularity of online streaming sites, as well as the ease of subscribing to those services at low pricing, is limiting industry growth. The Set-Top Box Market is being restrained by OTT services that provide live streaming of entertainment and sports using modern technologies. The market's future growth is being hampered by the video quality and price of over-the-top providers. The market's main players should pay special attention to the market's factors.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Global 4K Set-Top Box Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Owing to the implementation of current technology, North America will have the largest market share. Because of fierce competition among regional Internet service providers, the region is seeing higher Internet speeds. The growing number of digitization projects has increased the demand for advanced set-top boxes. Improvements in government policies to assist the media business, as well as an increase in the number of pay-tv subscribers across the area, are likely to propel the market forward during the projection period.
The unexpected halt of all economic operations around the world has had a significant impact on the entertainment business, as it has prevented new episodes from being broadcast. The issue has prompted a large number of people in both developing and developed countries to use OTT platforms to access new entertainment content and on-demand videos.
| Report Attribute | Details |
| Market size value in 2021 | USD 5.7 billion |
| Revenue forecast in 2031 | USD 9.4 billion |
| Growth Rate | CAGR of 5.2% from 2021 to 2031 |
| Base year for estimation | 2020 |
| Quantitative units | Revenue in USD million and CAGR from 2021 to 2031 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Product Type, Application, and Region |
| Regional scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
| Key companies profiled | Technicolor SA, Roku, Inc., Infomir Group, Huawei Technologies Co., Ltd., Humax Co., Ltd., DISH Network Corporation, Tata Sky, and Other Prominent Players. |
The 4K Set-Top Box Market size was estimated at USD 9.3 billion in 2020 and is expected to reach 14.2 billion by 2030.
Key players: Technicolor SA, Roku, Inc., Infomir Group, Huawei Technologies Co., Ltd., Humax Co., Ltd., DISH Network Corporation, Tata Sky, and Other Prominent Players.
Satellite STBs segment is anticipated to hold the largest 4K Set-Top Box Market
Drivers: The Growing Smart Television Penetration and Advancements in Digital Broadcasting Industry
As technology advances, a diverse selection of STBs with varied characteristics has been available. This has resulted in heated competition among set-top box vendors.
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