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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Set-Top Box Market Size
The global set-top box market size reached a value of almost USD 19.95 billion in the year 2023. The set-top box industry is further expected to grow at a CAGR of 3.5% between 2024 and 2032 to reach a value of almost USD 27.16 billion by 2032.
The global set-top box market is driven by the increasing digitization of televised networks globally. The Asia Pacific region is the leading regional market for the set-top box. This growth of the industry is attributed to the rising trend of over-the-top (OTT) set-top box, technological advancements in digital broadcast technologies, and the implementation of governmental regulation encouraging the shift from cable TV to set-top boxes in several countries, such as India.
Set-Top Box Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global set-top box market attained a value of nearly USD 19.95 billion.
The market is expected to grow at a CAGR of 3.5% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach around USD 27.16 billion by 2032.
The major drivers of the market are rising disposable incomes, growing standards of living, increasing digitisation of televised networks, and growing demand for high-quality video streaming.
The rising internet penetration and growing adoption of smart TVs and Internet-based STB devices are the major trends expected to drive the market growth.
The major regional markets for set-top boxes are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The various types of set-top boxes in the market are satellite STB, cable STB, digital terrestrial television (DTT) STB, internet protocol (IP) STB, and over-the-top (OTT) STB, among others.
The leading resolutions of set-top boxes in the market are HD (high definition), SD (standard definition), and UHD (ultra-high definition).
PayTV and free-to-air are the significant service types in the market.
The various end uses in the market are residential, and commercial, among others.
Online stores and offline stores are the leading distribution channels of set-top boxes in the market.
The key players in the global set-top box market are ARRIS International, plc, DISH Network Corporation, Roku Inc., EchoStar Corporation, Huawei Technologies Co., Ltd., and Technicolor S.A., among others.
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