According to the new research report titled “Set Top Box Market Forecast to 2027 – COVID-19 Impact and Global Analysis,” published by The Insight Partners, the market is expected to reach US$ 24,530.2 million by 2027, registering a CAGR of 3.0% during 2020–2027.Major advances in digital technology, coupled with rise in adoption of broadband services, are driving the set top box market in APAC. In addition, the market growth is positively influenced by the introduction of motion sensors and cameras into STBs. Moreover, leading players are launching smart remotes using gesture control for running STBs.
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APAC holds the largest share in the global set top box market. Owing to rising adoption of various set-top boxes in countries, such as China and India, APAC is projected to become the largest market. A large portion of the Asian population tends to rely on TV cable and set-top boxes for their entertainment over the years. The launch of Smart TVs and HD channels has contributed to a rise in digital TV viewing, which would eventually fuel the set-top box market growth in APAC during the forecast period.
The COVID-19 outbreak is adversely affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The global electronics and semiconductor sector is suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns. The restricted growth of this sector is also restraining the other businesses related to it, including set top box business. The lockdown of various plants and factories in China has adversely affected the global supply chains, thereby hampering manufacturing activities, delivery schedules, and various electronic goods sales. In addition, the global travel bans imposed by countries in Europe, Asia, and North America are hindering the business collaborations and partnerships opportunities.
A few key players operating in the global set-top box market and profiled in this market study are ADVANCED DIGITAL BROADCAST SA; ALTECH UEC; ARRIS INTERNATIONAL LIMITED (COMMSCOPE); COSHIP (SHENZHEN COZHOU ELECTRONICS CO., LTD.); HUAWEI TECHNOLOGIES CO., LTD; HUMAX CO., LTD.; KAONMEDIA CO., LTD.; SSAGEMCOM; SKYWORTH; and ZINWELL CORPORATION.
The report segments the global set top box market as follows:
Set Top Box Market, by Product
Set Top Box Market, by Content Quality
- Standard Definition
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