Saturday, 27 July 2024
According to our latest market study on " Americas Set Top Box Market Size and Forecasts (2020 - 2030), Regional Share, Trends, and Growth Opportunity Analysis – by Product (Cable, Satellite and Internet-Based, and DTT) and Content Quality [IPTV and Standard Definition (SD)]," the market was valued at US$ 7.45 billion in 2022 and is expected to reach US$ 8.85 billion by 2030; it is estimated to record a CAGR of 2.3% from 2022 to 2030.
Satellite TVs are among the most significant applications of set-top boxes. The implementation of a show-recording facility that allows viewers to record their shows in real-time and view them later, depending on their convenience, is one of the key developments brought in satellite TVs. Over a broad geographic region, satellite technology continues to be crucial in delivering video information to end viewers. The 2022 Micro LED, Neo QLED, and Lifestyle TVs were unveiled by Samsung Electronics in 2022. Samsung's 2022 Smart TVs include a new Smart Hub that prioritizes content curation and discovery when it comes to users' viewing preferences. Further, the rising customer demand for high-definition (HD) picture quality is influencing the growth of the set-top box market. HD set-top boxes are equipped with both HD channels and standard (SD) channels. The majority of STBs continue to provide HD content as their middle-of-the-market offering, with the higher-end STBs shifting toward 4K and 8K resolution, while the lower-end STBs mainly offer SD. HD streaming is often available in STB subscriptions, although at a little higher cost. Thus, the launch of smart TVs and HD channels leads to a rise in digital TV watching, which is expected to fuel the Americas set top box market growth.
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Source: The Insight Partners Analysis
The Set Top Box market's growth is mainly attributed to the growing need for next-generation STBs, which are integrated with internet-based services, television broadcasting, and video-on-demand (VoD) services that also allow sharing on other devices, such as multi-room television networks and portable media players. In the modern age, media and entertainment sectors are changing, largely due to the emergence of various technologies and the convergence of digital technologies. With fresh features and content protection schemes, set top box architectures are becoming more sophisticated. From offering separate cable and satellite boxes to hybrid boxes integrated with IP-based OTT services, the set-top box marketplace is undergoing a technological transition. Furthermore, the growing awareness regarding IPTV set-top boxes, such as IPTV and OTT set-top boxes, has boosted the product demand, more prominently in developing economies, wherein the number of tech-savvy people is increasing rapidly. As a result, conventional manufacturers of cable networks are focusing on the sales of specialized hybrid set-top boxes to their customers. Due to rising internet penetration and shifting regional content consumption habits, OTT and IPTV are gaining popularity. For instance, BH Telecom announced a collaboration with interactive TV platform developer Beenius in July 2021 for BH Telecom's IPTV and OTT services. Support for Android TV, targeted TV advertising, fingerprinting, and a contemporary TV platform to advance the present ecosystem over the following five years were among the features promised by Beenius. Thus, the integration of set-top boxes with OTT platforms to offer hybrid systems is expected to be a significant trend in the Americas set top box market growth.
The Americas set top box market size is segmented into product type and content quality. Based on product type, the Americas set top box market size is segmented into cable, satellite and Internet-based, and DTT. The Americas set top box market, by content quality, is categorized into IPTV and standard definition (SD). The IPTV segment dominated Americas set top box market in 2022. the Based on region, the Americas set top box market is bifurcated into North America and South And Central America.
Advanced Digital Broadcast SA, CommScope Holding Co Inc, Huawei Technologies Co Ltd, Humax Co Ltd, Kaonmedia Co Ltd, SagemCom UK Ltd, Shenzhen Skyworth Digital Technology Co Ltd, Technicolor SA, Shenzhen Coship Electronics Co Ltd, and Apple Inc are among the key players profiled during the study on the Americas set top box market. Several other major Americas set top box market players were studied and analyzed during this market research study to get a holistic view of the Americas set top box market and its ecosystem. The Americas set top box market report provides detailed market insights, which would help key players strategize their growth.
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