Set Top Box Market Report 2024 (Global Edition)

Global Set Top Box Market Report 2024 Market Size Split by Technology (Organic, Conventional), by Resolution (SD, HD, UHD, 4k, Others), by Distribution Channel (Offline, Online), by Application (Resid...

Set Top Box Market Report Description

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Set Top Box Market Insights Video

Competitive Landscape of the Set-Top Boxes Market

The competitive landscape of the set-top boxes market is characterized by a range of players competing to gain market share through product innovation, strategic partnerships, and aggressive marketing efforts. Key players in the market include established manufacturers, specialized set-top box companies, and emerging start-ups aiming to disrupt the market with innovative solutions.

March 2020: Videocon D2H launched a voice- and internet-enabled Android set-top box with Alexa kit, which uses Android 9 operating software and has OTT access. (Source: https://telecomtalk.info/d2h-stream-android-tv-hybrid/253407/) December 2019: Tata Sky launched Tata Sky Binge+, an Android-enabled DTH set-top box that offers Android features with 4K quality content. This new model uses the Android 9 version and is powered by a 1.8GHz Broadcom BCM72604 B processor. (Source: https://www.timesnownews.com/technology-science/article/tatasky-to-launch-binge-android-stb-on-december-16-images-and-details/526649)

Top Companies Market Share in Set Top Box Industry: (In no particular order of Rank)

• Advance Digital Broadcast (ADB)
• Commscope (ARRIS International
• plc)
• Coship Electronics Co.Ltd.
• Echostar Corporation
• Huawei Technologies Co.
• Ltd
• KaonMedia
• Sagemcom SAS
• Samsung Electronics Co. Ltd.
• Technicolor SA
• LG CNS Co.
• Ltd
• Confidential Data
• Access The Paid Version
• Data Hidden

*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Set-Top Boxes Market

Which Region Dominates the Set-Top Boxes Market in 2024?

According to Cognitive Market Research, North America dominated the market in 2024. It accounted for around 40% of the global revenue due to the region's increasing demand for high-definition (HD) and ultra-high-definition (UHD) content, the rising adoption of advanced technologies like DVR and voice control, and the ongoing shift towards digital and IPTV services.

Which Region is Expanding at the Fastest CAGR?

Asia Pacific stands out as the fastest-growing region in the set-top boxes market due to the region's rapid digitization of television services, increasing demand for high-definition content, and government initiatives promoting digital TV adoption. Additionally, the growing middle-class population, rising disposable income, and expanding broadband infrastructure contribute to the increased penetration of advanced STBs, particularly in emerging markets like India and China.

The current report Scope analyzes Set Top Box Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Set Top Box Market

According to Cognitive Market Research, the global set-top boxes market size was estimated at USD 24518.5 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 9807.40 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.2% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the set-top boxes market with a market size of USD 7738.04 million in 2024 and is projected to grow at a CAGR of 2.0% during the forecast period. The nation's increasing disposable income.
• The Canada set-top boxes market had a market share of USD 1176.89 million in 2024 and is projected to grow at a CAGR of 3.0% during the forecast period. Canada's increased need for set-top boxes.
• The Mexico set-top boxes market is projected to witness growth at a CAGR of 2.7% during the forecast period, with a market size of USD 892.47 million in 2024.

Europe Set Top Box Market

According to Cognitive Market Research, the global set-top boxes market size was estimated at USD 24518.5 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 7355.55 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.5% from 2024 to 2031.

• The United Kingdom set-top boxes market had a market share of USD 1235.73 million in 2024 and is projected to grow at a CAGR of 3.3% during the forecast period. In the UK, Set-Top Boxes sales witness an upswing due to the nation's growing adoption of smart TVs.
• The France set-top boxes market is projected to witness growth at a CAGR of 1.7% during the forecast period, with a market size of USD 676.71 million in 2024.
• According to Cognitive Market Research, the German set-top boxes market size was valued at USD 1456.40 million in 2024 and is projected to grow at a CAGR of 2.7% during the forecast period. In Germany, set-top boxes surged due to the presence of major market players.
• The Italy set-top boxes market is projected to witness growth at a CAGR of 1.9% during the forecast period, with a market size of USD 632.58 million in 2024.
• The Russia set-top boxes market is projected to witness growth at a CAGR of 1.5% during the forecast period, with a market size of USD 1140.11 million in 2024.
• The Spain set-top boxes market is projected to witness growth at a CAGR of 1.6% during the forecast period with a market size of USD 603.16 million in 2024
• The Luxembourg set-top boxes market is projected to witness growth at a CAGR of 2.6% during the forecast period, with a market size of USD 228.02 million in 2024.
• The Portugal set-top boxes market is projected to witness growth at a CAGR of 2.3% during the forecast period, with a market size of USD 154.47 million in 2024.
• The Greece set-top boxes market is projected to witness growth at a CAGR of 2.8% during the forecast period, with a market size of USD 88.27 million in 2024.
• Rest of Europe's set-top boxes market is projected to witness growth at a CAGR of 1.2% during the forecast period, with a market size of USD 1140.11 million in 2024.

Asia Pacific Set Top Box Market

According to Cognitive Market Research, the global set-top boxes market size was estimated at USD 24518.5 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 5639.26 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.0% from 2024 to 2031.

• According to Cognitive Market Research, the China set-top boxes market size was valued at USD 2537.66 million in 2024 and is projected to grow at a CAGR of 5.5% during the forecast period. Set-top boxes surged in China due to the adoption of various technologies.
• The Japan set-top boxes market is projected to witness growth at a CAGR of 4.5% during the forecast period, with a market size of USD 778.22 million in 2024.
• The India set-top boxes market had a market share of USD 676.71 million in 2024 and is projected to grow at a CAGR of 7.8% during the forecast period. India's supportive initiatives taken by the government.
• The South Korean set-top boxes market is projected to witness growth at a CAGR of 5.1% during the forecast period, with a market size of USD 563.93 million in 2024.
• The Australian set-top boxes market is projected to witness growth at a CAGR of 5.7% during the forecast period, with a market size of USD 293.24 million in 2024.
• The South East Asia set-top boxes market is projected to witness growth at a CAGR of 7.0% during the forecast period, with a market size of USD 389.11 million in 2024.
• The Rest of Asia Pacific set-top boxes market is projected to witness growth at a CAGR of 5.8% during the forecast period, with a market size of USD 400.39 million in 2024.

South America Set Top Box Market

According to Cognitive Market Research, the global set-top boxes market size was estimated at USD 24518.5 Million, out of which the Latin America market has more than 5% share of the global revenue with a market size of USD 1225.93 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.4% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil set-top boxes market size was valued at USD 524.70 million in 2024 and is projected to grow at a CAGR of 4.0% during the forecast period. Set-top boxes flourished in Brazil due to favorable regulatory approvals.
• Argentina's set-top boxes market had a market share of USD 205.96 million in 2024 and is projected to grow at a CAGR of 4.3% during the forecast period. Argentina's technological advancements augment the demand.
• Colombia set-top boxes market is projected to witness growth at a CAGR of 3.2% during the forecast period, with a market size of USD 109.11 million in 2024.
• Peru set-top boxes market is projected to witness growth at a CAGR of 3.6% during the forecast period, with a market size of USD 100.53 million in 2024.
• Chile set-top boxes market is projected to witness growth at a CAGR of 3.7% during the forecast period, with a market size of USD 88.27 million in 2024.
• The Rest of Latin America's set-top boxes market is projected to witness growth at a CAGR of 2.5% during the forecast period, with a market size of USD 197.37 million in 2024.

Middle East and Africa Set Top Box Market

According to Cognitive Market Research, the global set-top boxes market size was estimated at USD 24518.5 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 490.37 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.7% from 2024 to 2031.

• The GCC Countries set-top boxes market is projected to witness growth at a CAGR of 4.5% during the forecast period, with a market size of USD 2.52 million in 2024. Set-top box sales flourish due to the presence of major market players.
• The Egypt set-top boxes market is projected to witness growth at a CAGR of 4.0% during the forecast period, with a market size of USD 0.62 million in 2024.
• The South Africa set-top boxes market is projected to witness growth at a CAGR of 4.7% during the forecast period, with a market size of USD 0.93 million in 2024. Set-top box sales flourished in South Africa due to technological advancements, increasing demand, and regulatory support.
• The Turkey set-top boxes market is projected to witness growth at a CAGR of 3.2% during the forecast period, with a market size of USD 0.51 million in 2024.
• The Nigeria set-top boxes market is projected to witness growth at a CAGR of 2.8% during the forecast period, with a market size of USD 51.49 million in 2024.
• The Rest of MEA set-top boxes market is projected to witness growth at a CAGR of 2.7% during the forecast period, with a market size of USD 57.86 million in 2024.

Set Top Box Market Analysis

Set-Top Boxes Market Technology Segment Analysis

According to Cognitive Market Research, the dominant category is satellite due to the increasing demand for high-definition content, expansion of satellite TV services, and the rise of UHD and 4K technology. The growth in digital satellite broadcasting and the need for enhanced viewing experiences also contribute to market expansion.

The fastest-growing category in the set-top boxes market is cable due to increasing demand for high-definition and ultra-high-definition content, the proliferation of digital TV services, and advancements in STB technology. Consumers seek enhanced viewing experiences and features like DVR and voice control, fueling the market growth.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Set Top Box Industry. Request a Free Sample PDF!

Set-Top Boxes Market Resolution Segment Analysis

According to Cognitive Market Research, the dominant category is HD due to the increased need driven by accessibility to a wider assortment of channels than its 4K counterpart. These STBs are slowly replacing conventional SD boxes as they deliver improved sound and picture quality and exclusive channels.

The fastest-growing category in the set-top boxes market is 4k due to increasing demand for high-definition content and superior video quality. As consumers seek enhanced viewing experiences, 4K set-top boxes offer ultra-high-definition resolution and advanced features, fueling their adoption in homes and boosting market growth.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Set Top Box Distribution Channel Segment Analysis

Set-Top Boxes Market Application Segment Analysis

According to Cognitive Market Research, the dominant category is residential due to increasing demand for high-definition and interactive content, rising adoption of digital TV services, and growing popularity of smart TVs. Enhanced features like 4K resolution and integrated streaming services boost consumer interest and drive market growth.

The fastest-growing category in the set-top boxes market is commercial due to an increasing adoption of set-top boxes in restaurants, bars, and other establishments to host sports and movie screenings. Moreover, a cost-effective factor of utilizing set-top boxes in commercial entities is projected to expand product need further.

• Offline
• Online

Set Top Box Application Segment Analysis

Set-Top Boxes Market Distribution Channel Segment Analysis

According to Cognitive Market Research, the dominant category is online due to increasing customer preference for e-commerce platforms to purchase electronic products. These platforms deliver greater convenience, recommendations, discounts, and coupons, attracting a larger customer base.

The fastest-growing category in the set-top boxes market is offline due to increasing sales via electronics retailers, independent TV dealers, stores, and distributors. Various customers prefer to buy electronic products from brick-and-mortar stores as they can instantly check product quality and compare with other identical offerings, which leads to faster investment decisions.

• Residential
• Commercial

Author's Detail

Kalyani Raje

Senior Research Analyst at Cognitive Market Research

LinkedIn

Profile

ResearchGate Profile: https://www.researchgate.net/profile/Kalyani-Raje

An optimistic Senior Research Analyst with years of experience in competitive assessment and business consulting. A seasoned professional and subject-matter expert (SME) in the Automobile and transportation vertical.

Author's Conclusion