The set top box market is growing rapidly due to the high definition channels, and adoption of smart TVs. And most probably its China, who will lead the market regionally. Also, the Global set top box market was around $17 billion in 2017. But CAGR is expected to be 4.3% in the near future.
Set Top boxes are important because they transform the external signal source into the video content. From there you see the broadcast on the screen. The term set top box means a device that transforms a signal from either cable or satellite to an audiovisual content.
Global Set top box market saw rapid growth in recent years due to the popularity of HD Channels among consumers. As per IPTV Insights, customers have become more and more aware about the internet based set top box devices like IPTV and OTT.
Smart TVs are another reason for the rapid growth of Global Set top box market. It boosts the revenue growth, even in the rural areas. The increase in use of Smart TVs, Apple TVs, 4K TVs, and IPTV services in the developing countries creates revenue opportunities in the target market.
In 2013, the National Bureau of Statistics of China informed that there were 228,94,000 cable radio and TV users, but it increased to 23,458,000 users in 2014. This shows the increased growth margin in the global market.
There are also prominent players in the market like Skyworth Digital Holdings Ltd, Huawei Investment & Holding Co.Ltdm Apple Inc, and HUMAX holdings Co. Ltd. After China, US is the second largest revenue share holder in global set top box market. This growth in US is also because of Netflix, Amazon Prime and Vlue OTT services.
Now, the Government of Developing countries has started making usage of registered set top boxes mandatory rather than the use of wired cable television.
