The new report by Expert Market Research titled, ‘Global 4K Set-Top Box Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global 4K set-top box market, assessing the market based on its segments like type, application, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
- Historical Market Size (2021): USD 4.8 Billion
- Forecast CAGR (2022-2027): 4.10%
- Forecast Market Size (2027): USD 6.10 Billion
The rising digitalisation of cable TV networks and advancements in digital broadcasting technology is majorly driving the market growth. The high-income generation is responsible for significant growth in viewing across OTT platforms such as Amazon Prime Video, Hulu, Disney+ Hotstar, and Netflix over the forecasted period. The consumer demand for media-rich home entertainment services is rising due to rising disposable income and a growing middle-class population. As a result of the growing demand for next-generation Set-Top Boxes (STBs) capable of supporting internet-based services, television transmission, and Video on Demand (VoD), market incumbents are gaining. Operators' increasing deployment of 5G networks is also on the rise due to rising consumption of content and related services, which causes 4G LTE resources to be consumed. In addition, due to the rising use of smart devices and improved access to quicker internet connections, the industry is growing.
Industry Definition and Major Segments
A set-top box is a type of hardware device that receives and displays a radio frequency digital signal on an electronic visual medium. This signal is essentially an internet data or television transmission received over a telephone or cable connection. These set-top boxes can be found in a variety of satellite and cable television applications. Installation of 4K set-top boxes to improve customer satisfaction is a major endeavour being pursued by a number of providers. Most 4K Set-Top Boxes offer two-way communication, allowing for interactive features like as internet access and premium channel addition directly from the device.
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By type, the market includes:
- Internet Protocol Television (IPTV)
- Digital Terrestrial Television (DTT)
- Over-The-Top set-top boxes (OTT)
- Satellite Television
- Hybrid Television Set-top Box
The industry is categorised based on applications into:
- Residential
- Commercial
On the basis of region, the industry is divided into:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Trends
Due to expanding internet and broadband penetration and the growing need for HD channels and on-demand video services, the industry is expected to rise. High-definition televisions are driving up demand for satellite set-top boxes, which offer a varied range of entertainment with sharp visuals and excellent surround sound. New compression technologies, such as MPEG-4, are being used by satellite service providers, allowing them to offer more HD channels by effectively streaming them. These factors are contributing to market expansion. Limited genre variety, packaging flexibility, broader device availability, internet penetration, and lower total costs have contributed to increased popularity. The 4K set-top boxes allow customers to do things like browsing the web, video chat, and downloading software without having to use an HDM cable, which is expected to enhance the market.
Latest News on 4K Set-Top Box Market: https://www.expertmarketresearch.com/pressrelease/global-4k-set-top-box-market
Key Market Players
The major players in the market are Technicolor SA, Roku, Inc., Infomir Group, Huawei Technologies Co., Ltd., Humax Co., Ltd., DISH Network Corporation, and Tata Sky, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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