Set-Top Boxes Market, By Type (Cable Set-Top Boxes, Satellite Set-Top Boxes, IPTV Set-Top Boxes and HBB TV Set-Top Boxes), By Video Quality (Standard-Definition Set-Top Boxes and High-Definition Set-Top Boxes) and by Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

Published In : Sep 2020

Code : CMI4177

Pages :135

Formats :

Excel and PDF

Industry : Information and Communication Technology

Set-Top Boxes MarketSize and Trends

The global set-top boxes market is estimated to account for US$ 33.5 Bn in terms of value by the end of 2027.

APAC held dominant position in the global set-top boxes market in 2019, accounting for 39.1% share in terms of value, followed by Europe and North America respectively.

Figure 1: Global Set-Top Boxes Market Share (%), in terms of Value, By Region, 2019

The global set-top boxes market was valued at US$ 20.4 Bn in 2019 and is forecast to reach a value of US$ 33.5 Bn by 2027 at a CAGR of 6.4% between 2020 and 2027.

Market Trends

North America Trends

According to Ofcom International Communication Market Report (ICMR) 2014, digitization in the U.S. is around 95% and most of the end-users have HD TVs in their household. Furthermore, according to Cisco VNI, the number of connected TVs in North America would reach 750 million by 2019, rising from 495.2 million in 2014. Additionally, in North America the number of 4k or Ultra HD TVs is expected to reach 64.3 million by 2019, growing from 1.3 million in 2014. Thus, during the coming years, it is anticipated that there would be more demand for HD or HEVC-enabled set-top boxes in North America.

Latin America Trends

The number of pay TV subscriptions is expected to increase in Latin America due to the increased digitization of broadcasting in several countries in the region in the coming years. The majority of the countries have adopted the integrated services digital broadcasting (ISDB-T) International standard, which is based on the Japanese ISDB-T standard. According to Cisco VNI, the number of connected TVs is expected to reach 265.9 million by 2019. In Latin America, the Internet video-to-TV traffic is expected to expand at a CAGR of 49.5%, during the period from 2014 to 2019. These factors are anticipated to support the adoption of hybrid and IPTV set-top boxes in Latin America in the coming years. Moreover, the number of 4K TVs is expected to reach 36.5 million by 2019. This is expected to boost the adoption of HD set-top boxes in Latin America in the coming years.

Figure 2: Global Set-Top Boxes Market Value (US$ Bn), 2017 - 2027