The global 4K set-top box market size was valued at USD 2.21 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 8.4% from 2023 to 2030. The market gained traction with the growing trend of 4K content available on Over-The-Top (OTT) platforms. The convenience of watching content anytime and anywhere brings more subscribers to OTT platforms. Several TV service providers are including OTT platforms and ultra-high-definition resolution support in their 4k set-top boxes to take advantage of this trend. For instance, Bharti Airtel’s Xstream 4k TV box offers OTT media streaming platforms, such as Netflix and Amazon Prime.During the COVID-19 pandemic, governments around the world imposed stringent lockdown restrictions, forcing people to stay indoors.
The lockdowns forced people to turn toward indoor forms of entertainment. High-quality 4K content was the trend that could be streamed via 4K set-top boxes. The increase in the trend of OTT content consumption has been a key factor compelling manufacturers to develop set-top boxes that offer ultra-high-definition content onboard. Increased and easy accessibility to high-speed broadband internet services, majorly in semi-metro and metropolitan cities across the globe is expected to influence OTT and IPTV devices positively. The rising popularity of these innovative devices is anticipated to provide 4K STBs with considerable growth opportunities over the forecast period.
In addition, rising demand for smart 4K TVs and rapid digitalization are significant drivers for the growth of theindustry. Companies are taking efforts to integrate voice interference and Artificial Intelligence (AI) in 4K STB, along with a sleek design, owing to rising demand. Manufacturers are incorporating AI into their products to deliver personalized services, lower the cost of the backend servers, reduce human error, and make better use of their bandwidth. In addition, they are including speech recognition technology for channel control and other frequent commands like the weather, music, and digital signal strength, which is projected to boost the industry's growth.
Moreover, manufacturers attract customers by creating affordable products and pricing them competitively. Leading manufacturers are developing affordable STBs to meet growing consumer demand. To gain a competitive edge in the industry, key players are providing technology-and feature-rich set-top boxes. Moreover, a number of suppliers have formed alliances, mergers, and acquisitions in response to the rising popularity of OTT platforms to broaden their product offerings.
The residential application segment dominated the global industry in 2022 and accounted for the largest share of more than 77.55% of the overall revenue. The segment is anticipated to grow at a significant growth rate during the forecast period. The residential application segment is expected to grow as a result of increasing demand for home entertainment services and mini-theaters. The growth is also anticipated to be accelerated by the exchange offers that many digital broadcast providers offer, which allow subscribers to upgrade their existing set-top-boxes to 4K STB fora nominal charge.
The commercial application segment is expected to grow at the fastest CAGR over the forecast period. Significant expansion of the hospitality industry, malls, and hospital constructions, among other activities across the globe, is creating favorable growth opportunities for STBs in the commercial sector. Moreover, the growing demand for sports screenings in public areas at the time of events is expected to boost segment growth.
On the basis of products, the global industry has been further categorized into IPTV, Satellite, Cable, DTT, OTT, and hybrid. The satellite product segment is expected to grow at the fastest growth rate of more than 10.95% during the forecast period. Satellite-based 4k set-top boxes are in trend as it offers significant picture quality in terms of video bitrate. Moreover, viewers prefer satellite-based 4k set-top boxes as they offer a wide range of content options. For instance, Tata Play Ltd. offers multiple satellite TV-based plans on its 4K set-top box.
The Digital Terrestrial Television (DTT) product segment accounted for the largest share of the overall revenue in 2022 and is anticipated to grow at a significant growth rate during the forecast period. Rising demand for smart TVs and recent technological developments in the broadcast and telecom sectors is projected to offer significant growth for the DTT segment.In addition, the growth of smart residential properties will drive the segment growth further.
The Asia Pacific region dominated the global industry in 2022 and accounted for the highest share of more than 36.35% of the overall revenue. The growing popularity of 4K set-top boxes in rapidly developing countries like India is significantly driving regional market expansion. China holds a significant share in the Asia Pacific regional market, aided by emergingcompanies, such as Arion Technology Ltd. and Inspur Group, expanding their footprint and increasing rivalry among major players.
The Latin America region is expected to register the fastest growth rate during the forecast period. Due to the intense competition among local internet service providers, internet speeds are excellent, which is propelling the growth of the industry in the region. A paradigm shift in media consumption habits following the COVID-19 pandemic is also one of the major factors anticipated to propel the market growth over the forecast period.
The key players use strategies, such as partnerships, ventures, innovation, research and development, and geographical expansion, to solidify their industry position. Key players focus on improving their product offerings to better suit the changing needs of users and stay competitive. 4K set-top box manufacturers partner with TV distributors or TV service providers to sell 4K set-top box plans as a combo offer. Leading players are introducing new products with competitive pricing and different features. Constant R&D activities are leading to the industry becoming more common and standard even if it requires some investment. Due to rapid globalization, the 4K STB trend is present in global markets over boundaries. Some of the prominent players in the global 4K set-top box market are:
Arion Technology Ltd.
HUMAX Electronics Co., Ltd.
Techniolcor SA (Vantiva SA)
Vestel Group (TVS Regza Corp.)
Market size value in 2023
USD 2.33 billion
Revenue forecast in 2030
USD 4.10 billion
CAGR of 8.4% from 2023 to 2030
Base year for estimation
2018 - 2021
2023 - 2030
Revenue in USD million/billion and CAGR from 2023 to 2030
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
North America; Europe; Asia Pacific; Latin America; Middle East & Africa
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico
Key companies profiled
Amazon.com, Inc.; Arion Technology Ltd.; EchoStar Corp.; Infomir Group; Inspur Group; HUMAX Electronics Co., Ltd.; Roku, Inc.; Sagemcom Group; Techniolcor SA (Vantiva SA); Vestel Group (TVS Regza Corp.); ZTE Corp.
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This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the global 4K set-top box market report based on application, product, and region:
Application Outlook (Revenue, USD Million, 2018 - 2030)
Product Outlook (Revenue, USD Million, 2o18 - 2030)
Internet Protocol Television (IPTV)
al Terrestrial Television (DTT)
Over The Top (OTT)
Regional Outlook (Revenue, USD Million, 2018 - 2030)
Middle East & Africa
b. The global 4K set-top box market size was estimated at USD 2.21 billion in 2022 and is expected to reach USD 2.33 billion in 2023.
b. The global 4K set-top box market is expected to grow at a compound annual growth rate of 8.4% from 2023 to 2030 to reach USD 4.11 billion by 2030.
b. North America dominated the 4K set-top box market with a share of 22.45% in 2022. This is attributable to the presence of high-speed network infrastructure, coupled with add-ons and features offered to users.
b. Some key players operating in the 4K set-top box market include Amazon.com, Inc., Arion Technology Ltd., EchoStar Corporation, Infomir Group, Inspur Group, HUMAX Electronics Co., Ltd., Roku, Inc., Sagemcom Group, Techniolcor SA (Vantiva SA), • Vestel Group (TVS Regza Corporation), and ZTE Corporation.
b. Key factors that are driving the market growth include growing viewer emphasis on crystal-clear broadcast quality, rising demand for high-quality in-home entertainment, and the proliferation of OTT technologies.
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