New York, United States , Nov. 15, 2022 (GLOBE NEWSWIRE) -- The Global 4k Set-Top Box Market Size was USD 0.4 Billion in 2019 & is projected to reach $ 2.5 Billion by 2030 exhibiting A CAGR of 4.7%. As per the latest research report published by Spherical Insights & Consulting. North America is expected to dominate the market share in 2020 of the global 4k set-top box market owing to the greater adoption of 4K HD and smart TVs, rising consumer per capita income, and increased 4K technology investments are all contributing to the region's growth.
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Set-top box demand is being impacted by rising OTT content streaming on electronic devices such as computers, tablets, and smartphones. According to data from the India Brand Equity Foundation (IBEF), the Indian OTT sector has 29 million members in July 2020, a 30% increase over March 2020. Furthermore, OTT platforms' reduced membership pricing compared to TV channels, as well as their numerous features, such as remote accessibility, are expected to have an impact on industry statistics.
Increased penetration of 4K TVs in the upper economic class and government mandates connected to digitization in the region are primarily responsible for the region's excellent growth potential. As a result of increased local production, prices of Ultra HD televisions and compatible STB devices have decreased, resulting in market expansion in the Asia Pacific region. Leading Indian digital broadcast satellite providers, such as Videocon and Tata Sky, have begun to provide 4K STBs in order to give their customers a better TV viewing experience and obtain a first-mover advantage in a market with an estimated half a billion TV watchers.
Browse key industry insights spread across 210 pages with 118 market data tables and figures & charts from the report “Global 4K Set-Top Box Market Size, Share By Product Type (Satellite, Cable, Hybrid, IPTV/OTT STBs (Internet Protocol Television/Over-the-Top), Others), By Application (Residential, Commercial), By Distribution Channel (Offline, Online); By Region (U.S., Canada, Mexico, Rest of North America, The UK, France, Germany, Italy, Spain, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, the Netherlands, Luxembourg), Rest of Europe, China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa, Brazil, Argentina, Rest of Latin America) – Global Insights, Growth, Size, Comparative Analysis, Trends and Forecast, 2021-2030” in detail along with the table of contents
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The satellite segment is expected to dominate the market share in 2020 of global 4k set top box market owing to the most popular STBs because to their lower device costs, less weight, and smaller design compared to IPTV and hybrid STBs, boosting industry value. Furthermore, a satellite set-top box provides access to a diverse choice of national and international channels, bringing consumers up to date on current events throughout the world. The residential segment is expected to dominate the market share in 2020 of global 4k set-top box market owing to the government actions that support television transmission are producing a healthy market picture for STBs around the world. Market leaders are forming strategic alliances with significant firms like SFR and Orange, which will help the industry thrive. The offline segment is expected to dominate the market share in 2020 of global 4k set-top box market owing to the various STB OEMs and e-commerce industry players are launching new physical stores in order to boost customer shopping experiences and market data.
North America is expected to dominate the market share in 2020 of the global 4k set-top box market owing to the greater adoption of 4K HD and smart TVs, rising consumer per capita income, and increased 4K technology investments are all contributing to the region's growth. Key players in this region are concentrating on introducing 4K set-top boxes to enhance client demand. For the TDS TV+ cloud-based video platform, TDS Telecom and Arris International have planned to offer an Android TV-based VIP6102W UHD IP set-top solution in July 2019. This solution will meet the end-user requirement for an efficient, easy-to-use, and simple video solution.
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Key Companies & Recent Developments: The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Some of the leading players in the global 4k set-top box market include ZTE Corporation, Huawei Technologies, Technicolor SA, Intek Digital Inc., Skyworth Digital Ltd, Sagemcom SAS, Broadcom, ARRIS International PLC (CommScope Inc.), HUMAX Electronics Co. Ltd, Gospell Digital Technology Co. Limited, Kaon Media Co. Limited, Shenzhen Coship Electronics Co. Ltd, Evolution Digital LLC, Shenzhen SDMC Technology Co. Ltd, amongst others.
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