Set Top Box (STB) Market Report

Set Top Box (STB) Market Analysis By Product (IPTV, Satellite, Cable, DTT, OTT), By Content Quality (SD, HD, 4K), By Region (U.S., Canada, Germany, UK, China, Japan, Mexico, Brazil) & Segment Forecasts, 2014 - 2024

Published: October 2016  |  218 Pages  |  Format: PDF  |  Report ID: 978-1-68038-752-0

Industry Insights

The global Set Top Box (STB) market size was estimated at USD 17.14 billion in 2015 and is anticipated to witness a significant growth over the forecast period. This steep growth can be attributed to a combination of factors including mandatory television digitization, increasing popularity of High Definition (HD) channels, and the rising adoption of smart televisions worldwide.

The manufacturers have strived toward improving the available storage space in the contemporary STB devices, in order to enable augmented the caching of data broadcasts and personal video recordings. The advancements in digital broadcast technologies coupled with the ever-growing demand for superior video and audio contents are expected to boost the industry growth over the next 8 years.

U.S. STB market by content quality, 2014 - 2024 (USD Million)

U.S. STB market

The key stake holders of the industry include cable providers, digital satellite service providers, and telecommunication and broadcast companies. Infrastructure providers across the globe are increasingly forming strategic partnerships with software and content providers to optimally address the increasing need for greater interactive content. The key global infrastructure providers include IBM Corporation, Elitecore Technologies, Cisco Systems, Inc., Ericsson, and SysMaster.

The market is expected to present considerable opportunities for growth over the forecast period, primarily due to the emergence of innovative products, such as 3D smart interactive TVs, 4K UHD TVs, and OLED TVs. However, high subscription rates of pay channels are expected to challenge the growth of HD and 4K STBs, especially in the emerging nations such as China, India, and Brazil.

Content Quality Insights

Set top boxes delivering HD content quality are anticipated to emerge as predominant segments over the forecast period. HD devices are increasingly replacing the conventional SD devices across the world and this trend is presumed to continue over the forecast period. HD devices accounted for over 60% of the overall market share in terms of revenue and volume.

STBs delivering HD content quality offer enhanced resolution (over 1080p) of video content transmission and improved audio output along with the surround sound. These devices have gained increased preference, amongst worldwide television users, over the past few years. Worldwide service providers are increasingly launching Ultra HD (UHD) and 3D STBs compatible with 4K and 3D TV sets in order to capture the untapped market potential.

The major motion picture and sports production companies have started producing contents only in HD. TV channel operators face a cumber some and costly task of downgrading the content in order to broadcast it in SD due to which the SD STB market is expected to witness a steady decline over the forecast period.

Product Insights

The various types of STBs analyzed in the report include Internet Protocol Television (IPTV), satellite, cable, Digital Terrestrial Television (DTT), and Over the Top (OTT) set top boxes. The DTT STBs segment ispresumed to remain the leading product segment over the forecast period.They accounted for over 25% of the overall market share in terms of revenue in 2015.

Global STB market by product, 2015

Global STB market

The satellite set top boxes segment is expected to witness considerable growth over the forecast period. Visually appealing and highly functional user interface offered by these STBs have bolstered the rising demand across the globe. The increasing penetration of Direct-to-home (DTH) satellite STBs, especially in the developing economies, is expected to impel the industry growth over the forecast period.

Regional Insights

The Asia Pacific region is envisioned to emerge as the most predominant region over the forecast period. The region accounted for almost 45% of the overall market share in 2015. This growth can be attributed to the rising standards of living among the general populace in the Asian countries coupled with the presence of various government regulations pertaining to the digitization of legacy wired cable television broadcast channels across the region.

North America is expected to experience a considerable growth over the forecast period. The regional demand for STBs was estimated to be almost 70 million in 2015 and the demand is projected to increase in the near future. The increasing popularity of 4K TVs is leading to the large-scale adoption of 4K STBs in the region. In addition, faster internet speeds in the region, as a direct consequence of the intense competition among internet service providers (ISP), are presumed to contribute to the rising demand of 4K STBs. The launch of several UHD channels in the region has further bolstered the industry growth.

Competitive Market Share Insights

The key players in the industry include Technicolor, Skyworth Group, Samsung Electronics Limited, HUMAX Co. Ltd., Huawei Technologies Co. Ltd., EchoStar Corporation, Coship Electronics Co.Ltd., Cisco Systems, Inc., Amazon.com, Inc., and ADB Global. Vendors are increasingly focusing their efforts on product differentiation, and are integrating additional features supporting the primary functions of converting the source information signal into a digital content (both audio and video) in their products.

Global STB manufacturersare enhancing their marketing strategies and lever aging the contemporary channels of distribution, including online retailers and other authorized e-commerce vendors,such as eBay, AliExpres, and Amazon apart from the independent retail stores and company operated brick & mortar stores.

Report Scope

Attribute

Details

Base year for estimation

2015

Actual estimates/Historic data

2014 - 2015

Forecast period

2016 - 2024

Market representation

Revenue in USD Million & CAGR from 2016 to 2024

Regional scope

North America, Europe, Asia Pacific, Latin America & MEA

Country scope

U.S., Canada, UK, Germany, Japan, China, Brazil, Mexico, South Africa

Report coverage             

Revenue forecast, company share, competitive landscape, growth factors and trends

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Segments Covered in the Report

This report forecasts revenue growth and provides an analysis on the latest trends in each of the sub-segments from 2014 to 2024. For the purpose of this study, Grand View Research has segmented the set top box market on the basis of product, content quality, and region:

  • Product Outlook (Volume, Million Units; Revenue, USD Million; 2014 -2024)

    • Internet Protocol Television (IPTV)

    • Satellite

    • Cable

    • Digital Terrestrial Television (DTT)

    • Over-The-Top(OTT)

  • Content Quality Outlook (Volume, Million Units; Revenue, USD Million; 2014 -2024)

    • Standard Definition (SD)

    • High Definition (HD)

    • Ultra-High Definition (UHD)/4K

  • Regional Outlook (Volume, Million Units; Revenue, USD Million; 2014 -2024)

    • North America

      • U.S.

      • Canada

    •  Europe

      • Germany

      • UK

    • Asia Pacific

      • China

      • Japan

    • Latin America

      • Mexico

      • Brazil

    • Middle East and Africa (MEA)

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