The global set-top box (STB) market will be worth $46 billion in ten years time, according to the latest report from Future Market Insights (FMI).
The report – Set-top Box Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027) – expects revenue from the STB market in Asia Pacific except Japan (APEJ) and the US to collectively account for over 55.7 per cent of the global set-top box market revenue in 2017.
In the US, the increasing demand for 4K TV is expected to provide support to the growth of the STB market. In the APEJ region, due to the increasing penetration of TV in both rural and urban areas, the STB is set to receive a huge boost.
FMI predicts the global set-top box market to be valued at about $22.2 billion by the end of 2017, and will continue to grow at a CAGR of 7.5 per cent during the period of study to reach a market valuation of around $46 billion by the end of the forecast period.
The global set-top box market is segmented on the basis of product type (cable STBs, satellite STBs, IPTV STBs and OTT devices) and by video quality (SD and HD STBs). Segmental analysis found that:
– In the year 2017, the satellite STB segment is estimated to be valued at $8.5 billion and is expected to register a CAGR of 8.1 per cent during the forecast period
– The OTT devices STB segment is estimated to be valued at $3 billion in the year 2017 and is forecasted to touch a value of $3.4 billion in the year 2018, reflecting a year-on-year growth rate of 12.2 per cent
– In the year 2017, the SD STB segment is estimated to be valued at $5.4 billion and is expected to register a CAGR of 5.1 per cent during the assessment period
– The HD STB segment is estimated to be valued at $16.9 billion in the year 2017 and is forecasted to touch a value of $18.5 billion in the year 2018, reflecting a year-on-year growth rate of 9.7 per cent
– In 2017, the US STB market is estimated to be valued at $5.7 billion and is projected to reach $9.9 billion by the end of 2027. The market in the US is expected to represent incremental opportunity of $4.2 billion between 2017 and 2027
– In 2017, the APEJ STB market is estimated to be valued at $6.7 billion and is projected to reach about $16.7 billion by the end of 2027. The market in APEJ is expected to represent incremental opportunity of $10 billion Mn between 2017 and 2027
