Set Top Box Market: Increasing Demand for Digital TV & Smart TV Anticipated to Fuel Revenue Growth of the APEJ Regional Market: Global Industry Analysis 2012 - 2016 and Opportunity Assessment 2017 - 2027
Valley Cottage, NY -- (SBWIRE) -- 06/17/2019 -- The global set-top box market is anticipated to witness a robust growth during the assessment period 2017 – 2027. In a new report titled 'Set-top Box Market: Global Industry Analysis (2012 – 2016) and Opportunity Assessment (2017–2027),' Future Market Insights studies the factors driving the adoption of set-top boxes across the globe. According to Future Market Insights' analysis, the APEJ set-top box market is expected to witness a relatively high growth rate over the forecast period. Revenue from the set-top box market in APEJ and North America is estimated to collectively account for over 55.7% of the global set-top box market revenue in 2017. In North America, the increasing demand for 4K TV is expected to provide support to the growth of the set-top box market. In the APEJ region, due to the increasing penetration of television in both rural and urban areas, the set-top box market is set to receive a huge boost. Besides, a growing middle class and increasing disposable income in the APEJ region is also set to impact market revenue growth positively.
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Segmental forecast of the global set-top box market
The global set-top box market is segmented on the basis of product type (Cable Set-Top Boxes, Satellite Set-Top Boxes, IPTV Set-Top Boxes and OTT (Over the Top) Devices) and by video quality (Standard-Definition Set-Top Boxes, High-Definition Set-Top Boxes).
In the year 2017, the satellite set-top box segment is estimated to be valued at US$ 8,458.1 Mn and is expected to register a CAGR of 8.1% during the forecast period
The OTT devices set-top box segment is estimated to be valued at US$ 3,039.1 Mn in the year 2017 and is forecasted to touch a value of US$ 3,406.0 Mn in the year 2018, reflecting a year-on-year growth rate of 12.2%
In the year 2017, the SD set-top box segment is estimated to be valued at US$ 5,377.8 Mn and is expected to register a CAGR of 5.1% during the assessment period
The HD set-top box segment is estimated to be valued at US$ 16,891.0 Mn in the year 2017 and is forecasted to touch a value of US$ 18,532.1 Mn in the year 2018, reflecting a year-on-year growth rate of 9.7%
In 2017, the North America set-top box market is estimated to be valued at US$ 5,748.4 Mn and is projected to reach US$ 9,942.0 Mn by the end of 2027. The market in North America is expected to represent incremental opportunity of US$ 4193.6 Mn between 2017 and 2027
In 2017, the APEJ set-top box market is estimated to be valued at US$ 6,652.4 Mn and is projected to reach about US$ 16,703 Mn by the end of 2027. The market in APEJ is expected to represent incremental opportunity of US$ 10,050.3 Mn between 2017 and 2027
Global Set-top Box Market Forecast 2017-2027
Future Market Insights predicts the global set-top box market to be valued at about US$ 22,269 Mn by the end of 2017 and will continue to grow at a CAGR of 7.5% during the period of study to reach a market valuation of about US$ 46,091 Mn by the end of the forecast period.
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The report profiles some of the top companies operating in the global set-top box market including Humax Co., Ltd., Huawei Technologies Co., Ltd., Kaonmedia Co., Ltd., Technicolor SA ADB (Advanced Digital Broadcast), SA Sagemcom SAS Samsung Electronics Co. Ltd., ARRIS Group, Inc, EchoStar Corporation, Microsoft Corporation, ST Microelectronics, Texas Instrument and Broadcom among others.