Set-Top Box Market Size (2024 - 2029)

Set-Top Box Market Analysis

The Set-Top Box Market size in terms of production volume is expected to decline from 207.19 Million units in 2024 to 195.14 Million units by 2029.

Due to the increasing internet and broadband penetration, a growing preference for HD channels, and the rise of on-demand video services, the players in the set-top box market may have an opportunity to expand their services.

• The digital TV industry's evolution has significantly shifted how consumers engage with media, both online and on television. With rising disposable incomes and a burgeoning middle class, there is a heightened demand for media-rich home entertainment. Consequently, market players are seizing opportunities, especially with the surging demand for next-generation set-top boxes (STBs) that cater to internet-based services, video-on-demand (VoD), and traditional television broadcasts.

• Set-top boxes (STBs) have revolutionized TV content consumption. Their advanced features and seamless integration have made them indispensable in households. STBs deliver a versatile and immersive entertainment experience from streaming and on-demand services to interactive features. With innovations like AI integration and motion sensors, STBs provide a user-friendly interface and top-notch video and audio quality, guaranteeing an enjoyable viewing experience.

• The emerging markets include India, China, and Brazil. The rising adoption of the internet and broadband in emerging markets is a factor influencing the growth of internet-based set-top boxes. According to the China Internet Network Information Center (CNNIC), in the first half of 2024, China reported adding 7.4 million new users to its massive one billion internet population. Furthermore, according to the National Bureau of Statistics China, in 2022, approximately one million households in the Hebei province used pay TV.

• As more individuals turn to subscription-based OTT streaming services, Subscription Fatigue is becoming an increasing concern. In response, OTT platforms are moving away from traditional subscription bundles and models, opting for revenue strategies like pay-per-view. Pay-per-view allows viewers to pay for specific content via private telecast.

• Macroeconomic factors wield considerable influence over the set-top box (STBs) market. For instance, higher GDP growth can increase consumer spending on nonessential electronics, including set-top boxes. Furthermore, as GDP grows, businesses tend to see a rise in revenue and profitability, prompting increased investments in technology, notably in electronic devices. This surge in financial health often directs companies to prioritize bolstering their capabilities and elevating customer experiences. According to the IMF, in 2023, Montenegro emerged as Europe's fastest-growing economy, with its GDP expanding by 4.5%. This growth outpaced Turkey, which saw a 4% increase, and Malta, which experienced a 3.8% rise.

Set-Top Box IndustrySegmentation

A set-top box transforms a regular television into an interactive user interface for the Internet. It receives, decodes, and displays digital signals on the TV. In addition, it enables the television to decode broadcasts from digital television (DTV).

The scope of the study tracks the shipment of various set-top box (STB) types, including DTH/Satellite, IPTV, Cable, and others globally. The scope of the report covers market sizing and forecasts in volume terms for segmentation by technology, resolution, and geography. The analysis is based on the market insights captured through secondary research and the primaries. The report also covers the major factors impacting the growth of the market in terms of drivers and restraints.

The set-top box market is segmented by technology (satellite/DTH, IPTV, cable, other types (DTT)), resolution (SD, HD, Ultra-HD, and higher), and geography (North America, Europe, Asia-Pacific [India], Rest of World). The market sizes and forecasts are provided in terms of volume (units) for all the above segments.