Set-Top Boxes Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2022
Albany, NY -- (SBWIRE) -- 11/19/2015 -- According to a new market report published by Transparency Market Research entitled "Set-Top Boxes Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 - 2022," the global set-top boxes market is expected to reach a value of US$ 24.00 Bn by 2022. The market is estimated to grow at a CAGR of 6.4% during the forecast period from 2015 to 2022.
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Increase in the digitization switchover is boosting the adoption of digital broadcasting content among end-users. This, in turn, is driving the demand for set-top boxes among pay TV operators. Furthermore, the introduction of interactive services such as personal video recording, movies on demand, shopping, and games is expected to boost the adoption of the set-top boxes market in the coming years. Asia Pacific was the largest market for set-top boxes in the year 2014, accounting for a market share of around 31%. Asia Pacific is also expected to be the fastest-growing market for set-top boxes, at an estimated CAGR of 9.9% during the forecast period. Due to rapid digitization switchover and a large pay TV subscriber base, the set-top boxes market in Asia Pacific is expected to grow significantly during the coming years. North America is a mature market in terms of the adoption of set-top boxes due to early digitization switchover. The growth of the overall set-top boxes market in North America is expected to be driven by the adoption of IPTV and HBB set-top boxes during the coming years.
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Among the set-top box types, cable set-top boxes held the largest share of around 34% in 2014, globally. A significant portion of pay TV operators are using cable set-top boxes as most countries are currently in the process of the digitization switchover. During the forecast period, the market for IPTV set-top boxes is expected to expand at a CAGR of 10.7%. This growth is anticipated to be driven by its adoption among pay TV operators due to a rise in Internet video traffic and the growing use of mobile TV. Hybrid broadcast broadband (HBB) set-top boxes are increasingly finding adoption in North America and Europe, as they offer combined IPTV services and cable or satellite TV services. Furthermore, HBB set-top boxes enable content to be distributed in multi-room TV networks, personal computers, and mobile devices.
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In terms of video quality, high definition (HD) the set-top box was the largest segment of the set-top boxes market, accounting for approximately 66% of the total market in 2014. During the coming years, the adoption of HD set-top boxes is expected to increase further due to a growth in demand for high-quality video formats such as 4K and 8K. Furthermore, the increasing adoption of HD broadcasting content by pay TV operators is also expected to aid the growth of the HD set-top box market in coming years.
HUMAX Electronics Co., Ltd., Technicolor SA, Samsung Electronics Co. Ltd., ARRIS Group, Inc., and EchoStar Corp. are major players providing different types of set-top boxes to pay TV operators. The market is also witnessing major merger and acquisition activities. In July 2015, Technicolor SA announced the acquisition of the set-top box business of Cisco, Inc. in order to enhance its positioning in the set-top boxes market.
The set-top boxes market is segmented as below:
Set-Top Boxes Market
Cable Set-Top Boxes
Satellite Set-Top Boxes
IPTV SET-Top Boxes
HBB Set-Top Boxes
By Video Quality
Standard Definition Set-Top Boxes
High Definition Set-Top Boxes
Middle East and Africa
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