What Is the Current Size and Anticipated Growth of the Set-Top Box Market?
The set-top box market has witnessed robust growth in recent years. It is expected to escalate from $28.8 billion in 2024 to $30.73 billion in 2025, displaying a compound annual growth rate (CAGR) of 6.7%. Factors such as cable and satellite tv subscriptions, demand for digital tv services, transition to HDTV and 4K content, on-demand and streaming services, technological advancements in set-top box features, global expansion of media and entertainment, and consumer electronics industry growth have contributed to this expansion.
Strong growth is projected in the following years, with the set-top box market size anticipated to reach $43.97 billion in 2029, growing at a CAGR of 9.4%. The growth can be attributed to the shift towards cord-cutting and over-the-top (OTT) services, the integration of 5G and IoT connectivity in set-top boxes, interactive and voice-controlled STBs, enhanced security and content protection, inclusion of gaming and multimedia features, smart home integration, and sustainable energy-efficient set-top boxes.
Get Your Free Sample of The Global Set-Top Box Market Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=6447&type=smp
What Drives the Growth of the Set-Top Box Market?
The significant growth of the set-top box market is primarily driven by the rising internet and broadband penetration worldwide. The internet has revolutionized set-top boxes, enabling them to provide an enhanced viewing experience and stream videos without buffering. For instance, according to the Government of Canada, by 2026, high-speed internet access is projected to cover 98% of Canada’s population and is expected to reach 100% by 2030. Furthermore, the International Telecommunication Union (ITU) reported that global internet use reached 5.1 billion people in 2022, representing 65% of the global population. By 2023, this increased to 5.4 billion, signifying 67% internet penetration worldwide.
What Are the Market Segments in the Set-Top Box Industry?
The set-top box market covered in this report is segmented by:
1) Type: Cable, Satellite, IPTV or OTT, Hybrid
2) Resolution: High-definition (HD), Standard Definition (SD), Ultra HD
3) Service Type: PayTV, Free-to-Air
4) Distribution: Online, Offline
5) End User: Residential, Commercial
Order your report now for swift delivery:
https://www.thebusinessresearchcompany.com/report/set-top-box-global-market-report
Who are the Market Players in the Set-Top Box Industry?
The major companies operating in the set-top box market include ADB Technology Co. Ltd., Humax Co. Ltd., Sagemcom SAS, Samsung Electronics Co. Ltd., Technicolor SA, Huawei Technologies Co. Ltd., ARRIS International LLC, EchoStar Corporation, Aferian plc, CommScope Holding Company Inc., KAONMEDIA Co. Ltd., Mybox Technology Co. Ltd., Shenzhen Coship Electronics Co. Ltd., Sercomm Corporation, SEI Robotics Co. Ltd., Skyworth Group Co. Ltd., Sumitomo Electric Industries Ltd., TechniSat Digital GmbH, DISH Network Corporation, Roku Inc., Apple Inc., Vishay Intertechnology Inc., Coship Electronics Co. Ltd., Broadcom Inc., Catvision Limited, Cisco Systems Inc., Comcast Corporation, Evolution Digital LLC, Gospell Digital Technology Co. Limited, Hisense Electric Co. Ltd., Intek Digital Technology Co. Ltd., Sichuan Jiuzhou Electric Group Co. Ltd., and ZTE Corporation.
What Emerging Trends Are Affecting the Set-Top Box Market?
The introduction of hybrid set-top boxes is a significant trend in the set-top box market. Leading companies are developing advanced products to provide better services and meet consumer demand. For instance, in March 2022, GTPL Hathway, an India-based firm offering set-top boxes and satellite services, launched a hybrid Android set-top box named GTPL Genie. This device offers subscriptions to 13 OTT apps, including Amazon Prime Video, Disney+ Hotstar, YouTube, SonyLIV, Zee5, among others.
Which Region Dominates the Set-Top Box Market?
Asia-Pacific region was the largest market for set-top boxes in 2024. The report covers regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Does The Set-Top Box Market Report 2025 Offer?
A set-top box is a hardware device that decodes digital signals for display on a television. The signal is transmitted via cable or telephone. Set-top boxes provide additional channels than the native television channel numbering system. They are used for receiving and decoding digital television (DTV) broadcasts and for converting analog televisions to digital broadcasts. The Set-Top Box Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Purchase the exclusive report now to unlock valuable market insights:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=6447
About The Business Research Company
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead. Our flagship product, the Global Market Model, is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.
Contact Us:
The Business Research Company:
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us:
The Business Research Company on LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
