Set Top Box Market Size, Share & Trends Report

Set Top Box Market Size, Share & Trends Analysis Report By Product (IPTV, Satellite, Cable, DTT, OTT), By Content Quality (HD & Full HD, 4K & Above), By Region, And Segment Forecasts, 2020 - 2027

  • Published Date: May, 2020
  • Base Year for Estimate: 2019
  • Report ID: 978-1-68038-752-0
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2018
  • Number of Pages: 140

Report Overview

The global set top box market size was valued at USD 20.2 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 3.5% from 2020 to 2027. Rising adoption of internet and broadband services coupled with the widespread availability of on-demand video services and HD channels is expected to provide an impetus to the industry growth. Digital TV transitions have played a crucial role in changing the viewership and customers’ attitude towards consuming entertainment content over television and the internet. Increasing demand for OTT platforms, such as Amazon Prime Video, Hulu, and Netflix, is another factor expected to impact the market growth positively.

North America STB market size

The growth opportunities primarily lie in the rising need for next-generation STBs integrated with internet-based services, television broadcasting, and Video on Demand (VoD), and enable sharing on other devices, such as multi-room TV networks and portable media players. The media landscape is experiencing a paradigm shift in the digital age, primarily owing to the technology proliferation and integration of digital technologies. The conventional setting has transformed into a technology-enabled landscape. This shift and digitization have resulted in a considerable increase in the consumption of VoD and OTT platforms.

Set top box (STB) architectures are becoming sophisticated with the incorporation of new features and content protection systems. The market is witnessing a technological transformation from offering standalone cable and satellite boxes to hybrid boxes integrated with IP-based Over-The-Top (OTT) services. As a result, the traditional cable service providers are offering their consumers advanced hybrid set top box. Technology has played a significant role in boosting the adoption of these devices over the past few years. The increasing awareness about Internet-based set top boxes, such as Internet Protocol Television (IPTV) and OTT, has further triggered the product demand, more prominently across the emerging economies, where the number of tech-savvy individuals is significantly increasing.

Stringent regulations mandating the digitization of cable TV and the subsequent migration to digital TV from analog TV have increased the demand for STBs. As a result of the introduction of high-resolution television sets, the manufacturers and service providers have started providing HD set top boxes, in an attempt to address the growing viewer demand for enhanced content quality. Technology proliferation has enabled the development of a wide range of products integrated with several innovative features. Since most of these boxes come with storage capabilities, consumers have the flexibility to store and watch their favorite shows.

Product Insights

The global Set top box market is segmented by product into IPTV, OTT, Digital Terrestrial Television (DTT), cable, and satellite STBs. Cable STBs are anticipated to dominate the market over the forecast timeframe owing to their substantial adoption in Asia Pacific over the past decade. These STBs offer numerous benefits, such as better reception quality and increased channel carrying capacity, resulting in their rising preference. Also, mandatory government regulations pertaining to the digitization of cable networks in the countries, such as India, are further escalating the product demand.

The OTT segment is expected to exhibit the fastest growth over the next seven years. Significant technological advancements in the OTT industry has resulted in a rising demand for high-resolution picture and improved sound quality. OTT provides enhanced features, such as reduced time-to-content, simplified payment methods, and accessible time-shifted viewing. Pay-TV operators, telecom companies, and media companies are increasingly making a shift towards a user-driven innovation, identifying the user experience as a top priority and a key differentiator in its bid to attain dominance amongst the market players. Moreover, OTT players, such as Netflix and Amazon, are offering high-quality 4K content to its users, thus generating a considerable demand across the globe. 

Content Quality Insights

The industry is segmented by content quality into HD and Full HD and 4K and above. The HD and Full HD segment are anticipated to be the highest revenue contributor over the forecast period. Accessibility to a broader range of channels, as compared to the counterpart, is the primary factor accelerating the demand for HD and Full HD devices. Also, these STBs are increasingly replacing the conventional SD variants owing to their advantages, such as improved picture and sound quality as well as exclusive channels.

Global STB market share

The 4K and above segments are poised to emerge as the fastest-growing segment over the forecast timeframe. The substantial growth can be attributed to the rising demand for sharp picture quality and high-resolution color content defined by higher pixel resolution. Large-scale digitization programs, along with favorable government initiatives for mandatory installation of set top boxes are expected to foster the growth. Additionally, the undertaking of favorable initiatives by the Federal Communications Commission (FCC) in the U.S. for the support of third party STB manufacturers is also paving opportunistic ways for the expansion of 4K set top boxes. The STB market is anticipated to gain traction in Asia Pacific owing to the strong presence of low-cost set top box manufacturers, especially in countries such as Korea, Taiwan, and China.

Regional Insights

Asia Pacific dominated the overall market in 2019 and is expected to continue its dominance over the next seven years. Rising penetration of digital entertainment among the rural and urban populations across the region is among the crucial factors positively influencing the growth. The region has witnessed increased consumer awareness, especially among the urban population, regarding the rapid technological advancements as well as the comparison between quality, features, pricing, and benefits. Presence of major STB vendors in countries, such as China and Japan, has positively influenced the regional growth. Moreover, the growing prominence of global OTT service providers, such as Netflix, Star TV Network, and Amazon Prime Video, in the emerging countries is expected to drive the growth exponentially.

Latin America is poised to exhibit the fastest growth over the forecast timeframe. The region is witnessing faster internet speeds as a consequence of intense competition among the regional internet service providers. An increasing number of digitization projects has resulted in the rising demand for advanced set top boxes. Moreover, changing government policies in support of the media industry and increasing number of Pay-TV subscribers across the region are expected to fuel the industry growth over the next seven years.

Key Companies & Market Share Insights

Technological advancements have led to a surge in the demand for STBs integrated with multiple innovative features. The introduction of motion sensors and cameras in STBs is among the recent technological breakthroughs. Also, some STB chips now offer Bluetooth connectivity, enabling an STB connection via a gesture-recognition based remote control. The provision of additional features and enhanced services, along with offering similar functions at a lower price, is also helping the vendors in expanding their customer base. For instance, Huawei offers low-cost STBs for emerging markets, such as Zimbabwe and India, where the government has mandated the cable digitization. Some of the prominent players in the set top box market include:

  • Samsung Electronics Limited

  • Huawei Technologies Co. Ltd.

  • Cisco Systems, Inc.

  • Technicolor

  • HUMAX Co. Ltd.

  • EchoStar Corporation

  • Skyworth Group

  •, Inc.

  • Coship Electronics Co. Ltd.

  • ADB Global

Set Top Box (STB) Market Report Scope

Report Attribute


Market size value in 2020

USD 21.15 billion

Revenue forecast in 2027

USD 26.96 billion

Growth Rate (Revenue Based)

CAGR of 3.5% from 2020 to 2027

Base year for estimation


Historical data

2016 - 2018

Forecast period

2020 - 2027

Quantitative units

Revenue in USD million/billion and CAGR from 2020 to 2027

Report coverage

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

Segments covered

Product, content quality, and region

Regional scope

North America; Europe, Asia Pacific, Latin America, and MEA

Country scope

U.S.; Canada; Germany; U.K.; China; India; Japan; Brazil; Mexico

Key companies profiled

Samsung Electronics Limited; Huawei Technologies Co. Ltd.; Cisco Systems, Inc.; Technicolor; HUMAX Co. Ltd.; EchoStar Corporation; Skyworth Group;, Inc.; Coship Electronics Co. Ltd.; and ADB Global

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Segments Covered in the Report

This report forecasts revenue and volume growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the global set top box market report on the basis of product, content quality, and region:

  • Product Outlook (Volume, Million Units; Revenue, USD Million, 2016 - 2027)

    • IPTV

    • Satellite

    • Cable

    • DTT

    • OTT

  • Content Quality Outlook (Volume, Million Units; Revenue, USD Million, 2016 - 2027)

    • HD & Full HD

    • 4K & Above

  • Regional Outlook (Volume, Million Units; Revenue, USD Million, 2016 - 2027)

    • North America

      • The U.S.

      • Canada

    • Europe

      • The U.K.

      • Germany

    • Asia Pacific

      • China

      • Japan

      • India

    • Latin America

      • Mexico

      • Brazil

    • Middle East and Africa (MEA)

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