Set-top Box Market

Set-top Box Market Outlook from 2024 to 2034

Set-top boxes, over the years, have changed the way people enjoy their everyday television-watching experience. Introduced in the latter half of the 2000s, they are now equipped with a multitude of features, which are not only increasing their adoption in the general populace but also enhancing the overall user experience. The USD 37,245.54 million set-top box market, as of 2024, is set to have a bright future in the coming decade.

With the advent of OTT platforms, in the past few years, the general population, especially the younger demographic, has moved away from the market. This trend is a testament to its modest predicted CAGR of 5.60% through 2034. However, the companies involved in the market have tackled this problem by introducing OTT subscription-based plans so that consumers can enjoy both their conventional TV channels plus the newly arrived OTT ones.

Even in underdeveloped and developing countries like India, South Korea, Thailand, Brazil, etc., where a high consumption is noted, market players have to regularly come up with new subscription plans and discounts to stay competitive and stop consumers from moving towards online platforms. With the collaboration between television manufacturing and set-top box companies, the market is said to do well in the coming future, reaching a global valuation of USD 64,226.39 million by the end of 2034.

Attributes	Details
Market Value for 2024	USD 37,245.54 million
Projected Market Value for 2034	USD 64,226.39 million
Value-based CAGR of the Market for 2024 to 2034	5.60%

Category-wise Insights

Cable Set-top Boxes Retain their Dominance despite the Advent of OTT platforms

Various types of STBs are flooding the international marketplace, such as cable set STBs, satellite STBs, IPTV STBs, and OTT devices. Among these, cable set-top boxes are slated to hold a market share of 28.70% in 2024.

Attributes	Details
Product Type	Cable Set-top Boxes
Market Share (2024)	28.70%

• Cable TV infrastructure, in the developing and developed parts of the world, is a well-established one. It has been an integral part of the general population’s day-to-day lives for years. This familiarity and ubiquity have made it difficult for alternative mediums to make their way into common people’s households, thus increasing market avenues for STBs.
• Demand for cable STBs in the general populace is increasing as cable providers typically offer a wide range of channels and content packages, including live TV, sports, news, and premium channels.

High-definition STBs to Revolutionize the TV Experience

On the basis of video quality, STBs come in two variants: standard-definition and high-definition STBs. Among these, HD STBs are in line to take the majority share of 54.90% of the overall market.

Attributes	Details
Video Quality	High Definition Set Top Boxes
Market Share (2024)	54.90%

• Clamor for HD STBs is skyrocketing, especially in the developing and underdeveloped parts of the world, as they support high-definition (HD) resolution, providing sharper and clearer images with vibrant colors and enhanced detail.
• Households, especially those living in urban and semi-urban settings, generate an excellent demand for high-definition STBs due to their interactive features such as on-screen program guides, interactive applications, and personalized recommendations.

Country-wise Insights

Countries	CAGR (2024 to 2034)
China	7.70%
United States	5.60%
Australia and New Zealand	5.10%
Germany	1.30%
Japan	2.00%

Companies in China Flood the Set-top Box Market Amidst Immense Competition

The set-top box market in China is a promising one. It is slated to grow at a CAGR of 7.70% through 2034.

China has always been a front-runner when it comes to novel technologies, especially in the electronics sector. This rich legacy has led to the advent of a multitude of Chinese companies in the market, with a promise of delivering inexpensive subscription plans and offerings to the consumer.

For instance, in April 2023, Xiaomi unveiled its next-gen 4K-enabled STB, running Google TV instead of Android TV. The revamped Xiaomi TV Box S boasted a more powerful CPU and Bluetooth 5.2, offering users enhanced streaming experiences.

Inter-industry Collaboration to Profit the Market in the United States

The United States is a lucrative country in the set-top box market. The market is slated to grow at a CAGR of 5.60% for the forecast period in the country.

The United States was among the first few countries to introduce cable TV channels for the common people. The market is also well-established. This is why, various other media platforms are leveraging the penetration of STB networks for their growth in the country.

To give an example, in January 2020, Netflix eyed faster growth through pay TV and mobile service bundles. The company forged integration deals with Comcast and T-Mobile, and expanded its agreement with Sky, the largest set-top box company in the country, allowing access to Netflix via STBs.

Sporting Culture in Australia and New Zealand to Bolster the Sales of STBs

The future of the Australian and New Zealand markets looks very bright. The market is slated to grow at a CAGR of 5.10% through 2034.

Australia and New Zealand have a very prominent sporting culture. The general population in these countries is maddened by cricket and football streaming. This has put tremendous pressure on the companies involved in the market to curate plans that include sports channels, which not only increase the adoption but also enhance user experience.

German Company Launches TV/Streaming Platform Integrating Set-top Box and OTT

The set-top box market in Germany is slated to grow at a CAGR of 1.30% for the forecasted period of 2024 to 2034.

Amidst the rising demand for OTT streaming and the shift of consumers from conventional cable TVs towards internet and mobile streaming applications, companies in Germany are introducing televisions with in-built set-top boxes enabling OTT browsing.

For instance, in December 2023, Tele Columbus, a German-based company, launched PŸUR TV HD, integrating linear TV and on-demand services. The Android TV-based STB offers features like restart, live pause, and access to streaming apps like Netflix and Disney+.

Growing Aging Population in Japan to Benefit Market

The market in Japan is very likely to flourish in the coming years. It is slated to grow at a CAGR of 2.00% through 2034.

Japan is home to a large population of geriatric people. This demographic is accustomed to watching TV shows on cable set-top boxes from the beginning of the century. They find it hard to shift toward emerging alternatives as they are complex, expensive, and difficult to operate.

Competitive Landscape

The set-top box market is a well-established one. Multinational companies in the market already have a strong foothold due to their prolonged presence and unprecedented penetration not just in urban settings but also in rural ones. With the advent of OTT platforms, the market has experienced a considerable plunge. However, companies in the market have successfully struck a deal with the OTT companies so that they can continue providing their services through the product.

Recent Developments

• In March 2024, ZTE and Telecab unveiled the B866V2FA set-top-box, powered by Android TV™, providing a 4K viewing experience. The collaboration addressed Telecab's need for an upgrade, enhancing their Pay TV business and integrating third-party streaming apps.
• In January 2024, Tata Sky launched India's inaugural 4K set-top-box, offering both existing and new subscribers access to ultra HD 4K picture clarity for forthcoming cricket matches. The box features SD and HD channels alongside 4K content.
• In April 2024, Vereinigte Stadtwerke launched its own IPTV service, VS Media IPTV, in partnership with Zattoo. The service offered over 130 TV channels, including foreign language options, and could be accessed via various platforms including STBs and mobile devices.
• In September 2023, DishTV, led by CEO Anil Dua, transitioned to exclusively offering HD set-top boxes, discontinuing SD options as part of its "HD for all initiative," aiming to boost HD adoption among Indian viewers.
• In March 2024, Tata Sky launched a new WiFi-enabled set-top-box and digital video recorder, allowing users to transfer recorded content to smartphones and tablets. The product targeted metro and Tier-I cities.
• In March 2024, Fastway Transmissions, a Jujhar Group subsidiary, launched the FW+ ultra 4K STB, offering Dolby Vision and Dolby Audio features. The STB included bundled plans providing unlimited internet, OTT content, and free voice calls, catering to the rising demand for high-quality TV experiences.
• In January 2024, Ukrainian set-top box developer Inext supplied SkyNet in Kyrgyzstan with branded STBs, including logo placement on the device, remote control, and user manual.

Key Companies

• Humax Co. Ltd.
• Huawei Technologies Co. Ltd.
• Kaonmedia Co. Ltd.
• Technicolor SA
• ADB (Advanced Digital Broadcast) SA
• Sagemcom SAS
• Samsung Electronics Co. Ltd.
• ARRIS International plc
• Roku, Inc.
• Skyworth Digital Holdings Limited
• Cisco Systems, Inc.
• Motorola Solutions, Inc.
• Apple Inc.
• Amazon.com, Inc.
• EchoStar Corporation
• Pace plc
• ZTE Corporation
• Netgem SA
• Sky plc (Sky Q)
• TiVo Corporation

Key Coverage in the Set-top Box Industry

• Emerging Opportunities in the Set-top Box sector
• Market Research on Streaming Services Adoption and its Impact on the STB Market
• Market Trends in Set-Top Box Functionalities and Content Delivery
• Demand Analysis of OTT-enabled Set-top Boxes
• Impact of Smart TV Integration on the Set-top Box Market

Key Segments

By Product:

• Cable Set Up Boxes
• Satellite Set Up Boxes
• IPTV Set Up Boxes
• OTT (Over The Top Devices)

By Video Quality:

• Standard Definition Set Up Boxes
• High Definition Set Up Boxes

By Region:

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East and Africa (MEA)

Frequently Asked Questions

How Much is the Set-top Box Market Currently Worth?

The market is expected to be worth USD 37,245.54 million in 2024.

What is the Sales Forecast for Set-top Boxes by 2034?

The market is expected to reach USD 64,226.39 million by 2034.

At What Rate is the Set-top Box Market Growing?

The market is in line to develop at a CAGR of 5.60% from 2024 to 2034.

Which are the key Companies in the Set-top Box Market?

Humax Co. Ltd., Huawei Technologies Co. Ltd., Kaonmedia Co. Ltd., Technicolor SA, ADB (Advanced Digital Broadcast) SA, Sagemcom SAS, and Samsung Electronics Co. Ltd., are some of the major players in the market.

What was the Value of the Set-top box Market in 2023?

The market valuation in 2023 was USD 35,270.4 million.