Set-top boxes, over the years, have changed the way people enjoy their everyday television-watching experience. Introduced in the latter half of the 2000s, they are now equipped with a multitude of features, which are not only increasing their adoption in the general populace but also enhancing the overall user experience. The USD 37,245.54 million set-top box market, as of 2024, is set to have a bright future in the coming decade.
With the advent of OTT platforms, in the past few years, the general population, especially the younger demographic, has moved away from the market. This trend is a testament to its modest predicted CAGR of 5.60% through 2034. However, the companies involved in the market have tackled this problem by introducing OTT subscription-based plans so that consumers can enjoy both their conventional TV channels plus the newly arrived OTT ones.
Even in underdeveloped and developing countries like India, South Korea, Thailand, Brazil, etc., where a high consumption is noted, market players have to regularly come up with new subscription plans and discounts to stay competitive and stop consumers from moving towards online platforms. With the collaboration between television manufacturing and set-top box companies, the market is said to do well in the coming future, reaching a global valuation of USD 64,226.39 million by the end of 2034.
| Attributes | Details |
|---|---|
| Market Value for 2024 | USD 37,245.54 million |
| Projected Market Value for 2034 | USD 64,226.39 million |
| Value-based CAGR of the Market for 2024 to 2034 | 5.60% |
Various types of STBs are flooding the international marketplace, such as cable set STBs, satellite STBs, IPTV STBs, and OTT devices. Among these, cable set-top boxes are slated to hold a market share of 28.70% in 2024.
| Attributes | Details |
|---|---|
| Product Type | Cable Set-top Boxes |
| Market Share (2024) | 28.70% |
On the basis of video quality, STBs come in two variants: standard-definition and high-definition STBs. Among these, HD STBs are in line to take the majority share of 54.90% of the overall market.
| Attributes | Details |
|---|---|
| Video Quality | High Definition Set Top Boxes |
| Market Share (2024) | 54.90% |
| Countries | CAGR (2024 to 2034) |
|---|---|
| China | 7.70% |
| United States | 5.60% |
| Australia and New Zealand | 5.10% |
| Germany | 1.30% |
| Japan | 2.00% |
The set-top box market in China is a promising one. It is slated to grow at a CAGR of 7.70% through 2034.
China has always been a front-runner when it comes to novel technologies, especially in the electronics sector. This rich legacy has led to the advent of a multitude of Chinese companies in the market, with a promise of delivering inexpensive subscription plans and offerings to the consumer.
For instance, in April 2023, Xiaomi unveiled its next-gen 4K-enabled STB, running Google TV instead of Android TV. The revamped Xiaomi TV Box S boasted a more powerful CPU and Bluetooth 5.2, offering users enhanced streaming experiences.
The United States is a lucrative country in the set-top box market. The market is slated to grow at a CAGR of 5.60% for the forecast period in the country.
The United States was among the first few countries to introduce cable TV channels for the common people. The market is also well-established. This is why, various other media platforms are leveraging the penetration of STB networks for their growth in the country.
To give an example, in January 2020, Netflix eyed faster growth through pay TV and mobile service bundles. The company forged integration deals with Comcast and T-Mobile, and expanded its agreement with Sky, the largest set-top box company in the country, allowing access to Netflix via STBs.
The future of the Australian and New Zealand markets looks very bright. The market is slated to grow at a CAGR of 5.10% through 2034.
Australia and New Zealand have a very prominent sporting culture. The general population in these countries is maddened by cricket and football streaming. This has put tremendous pressure on the companies involved in the market to curate plans that include sports channels, which not only increase the adoption but also enhance user experience.
The set-top box market in Germany is slated to grow at a CAGR of 1.30% for the forecasted period of 2024 to 2034.
Amidst the rising demand for OTT streaming and the shift of consumers from conventional cable TVs towards internet and mobile streaming applications, companies in Germany are introducing televisions with in-built set-top boxes enabling OTT browsing.
For instance, in December 2023, Tele Columbus, a German-based company, launched PŸUR TV HD, integrating linear TV and on-demand services. The Android TV-based STB offers features like restart, live pause, and access to streaming apps like Netflix and Disney+.
The market in Japan is very likely to flourish in the coming years. It is slated to grow at a CAGR of 2.00% through 2034.
Japan is home to a large population of geriatric people. This demographic is accustomed to watching TV shows on cable set-top boxes from the beginning of the century. They find it hard to shift toward emerging alternatives as they are complex, expensive, and difficult to operate.
The set-top box market is a well-established one. Multinational companies in the market already have a strong foothold due to their prolonged presence and unprecedented penetration not just in urban settings but also in rural ones. With the advent of OTT platforms, the market has experienced a considerable plunge. However, companies in the market have successfully struck a deal with the OTT companies so that they can continue providing their services through the product.
Recent Developments
Table 1: Global Market Value (US$ Million) Forecast by Region, 2019 to 2034
Table 2: Global Market Volume (Units) Forecast by Region, 2019 to 2034
Table 3: Global Market Value (US$ Million) Forecast by Product, 2019 to 2034
Table 4: Global Market Volume (Units) Forecast by Product, 2019 to 2034
Table 5: Global Market Value (US$ Million) Forecast by Video Quality, 2019 to 2034
Table 6: Global Market Volume (Units) Forecast by Video Quality, 2019 to 2034
Table 7: North America Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 8: North America Market Volume (Units) Forecast by Country, 2019 to 2034
Table 9: North America Market Value (US$ Million) Forecast by Product, 2019 to 2034
Table 10: North America Market Volume (Units) Forecast by Product, 2019 to 2034
Table 11: North America Market Value (US$ Million) Forecast by Video Quality, 2019 to 2034
Table 12: North America Market Volume (Units) Forecast by Video Quality, 2019 to 2034
Table 13: Latin America Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 14: Latin America Market Volume (Units) Forecast by Country, 2019 to 2034
Table 15: Latin America Market Value (US$ Million) Forecast by Product, 2019 to 2034
Table 16: Latin America Market Volume (Units) Forecast by Product, 2019 to 2034
Table 17: Latin America Market Value (US$ Million) Forecast by Video Quality, 2019 to 2034
Table 18: Latin America Market Volume (Units) Forecast by Video Quality, 2019 to 2034
Table 19: Western Europe Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 20: Western Europe Market Volume (Units) Forecast by Country, 2019 to 2034
Table 21: Western Europe Market Value (US$ Million) Forecast by Product, 2019 to 2034
Table 22: Western Europe Market Volume (Units) Forecast by Product, 2019 to 2034
Table 23: Western Europe Market Value (US$ Million) Forecast by Video Quality, 2019 to 2034
Table 24: Western Europe Market Volume (Units) Forecast by Video Quality, 2019 to 2034
Table 25: Eastern Europe Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 26: Eastern Europe Market Volume (Units) Forecast by Country, 2019 to 2034
Table 27: Eastern Europe Market Value (US$ Million) Forecast by Product, 2019 to 2034
Table 28: Eastern Europe Market Volume (Units) Forecast by Product, 2019 to 2034
Table 29: Eastern Europe Market Value (US$ Million) Forecast by Video Quality, 2019 to 2034
Table 30: Eastern Europe Market Volume (Units) Forecast by Video Quality, 2019 to 2034
Table 31: South Asia and Pacific Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 32: South Asia and Pacific Market Volume (Units) Forecast by Country, 2019 to 2034
Table 33: South Asia and Pacific Market Value (US$ Million) Forecast by Product, 2019 to 2034
Table 34: South Asia and Pacific Market Volume (Units) Forecast by Product, 2019 to 2034
Table 35: South Asia and Pacific Market Value (US$ Million) Forecast by Video Quality, 2019 to 2034
Table 36: South Asia and Pacific Market Volume (Units) Forecast by Video Quality, 2019 to 2034
Table 37: East Asia Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 38: East Asia Market Volume (Units) Forecast by Country, 2019 to 2034
Table 39: East Asia Market Value (US$ Million) Forecast by Product, 2019 to 2034
Table 40: East Asia Market Volume (Units) Forecast by Product, 2019 to 2034
Table 41: East Asia Market Value (US$ Million) Forecast by Video Quality, 2019 to 2034
Table 42: East Asia Market Volume (Units) Forecast by Video Quality, 2019 to 2034
Table 43: Middle East and Africa Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 44: Middle East and Africa Market Volume (Units) Forecast by Country, 2019 to 2034
Table 45: Middle East and Africa Market Value (US$ Million) Forecast by Product, 2019 to 2034
Table 46: Middle East and Africa Market Volume (Units) Forecast by Product, 2019 to 2034
Table 47: Middle East and Africa Market Value (US$ Million) Forecast by Video Quality, 2019 to 2034
Table 48: Middle East and Africa Market Volume (Units) Forecast by Video Quality, 2019 to 2034
Figure 1: Global Market Value (US$ Million) by Product, 2024 to 2034
Figure 2: Global Market Value (US$ Million) by Video Quality, 2024 to 2034
Figure 3: Global Market Value (US$ Million) by Region, 2024 to 2034
Figure 4: Global Market Value (US$ Million) Analysis by Region, 2019 to 2034
Figure 5: Global Market Volume (Units) Analysis by Region, 2019 to 2034
Figure 6: Global Market Value Share (%) and BPS Analysis by Region, 2024 to 2034
Figure 7: Global Market Y-o-Y Growth (%) Projections by Region, 2024 to 2034
Figure 8: Global Market Value (US$ Million) Analysis by Product, 2019 to 2034
Figure 9: Global Market Volume (Units) Analysis by Product, 2019 to 2034
Figure 10: Global Market Value Share (%) and BPS Analysis by Product, 2024 to 2034
Figure 11: Global Market Y-o-Y Growth (%) Projections by Product, 2024 to 2034
Figure 12: Global Market Value (US$ Million) Analysis by Video Quality, 2019 to 2034
Figure 13: Global Market Volume (Units) Analysis by Video Quality, 2019 to 2034
Figure 14: Global Market Value Share (%) and BPS Analysis by Video Quality, 2024 to 2034
Figure 15: Global Market Y-o-Y Growth (%) Projections by Video Quality, 2024 to 2034
Figure 16: Global Market Attractiveness by Product, 2024 to 2034
Figure 17: Global Market Attractiveness by Video Quality, 2024 to 2034
Figure 18: Global Market Attractiveness by Region, 2024 to 2034
Figure 19: North America Market Value (US$ Million) by Product, 2024 to 2034
Figure 20: North America Market Value (US$ Million) by Video Quality, 2024 to 2034
Figure 21: North America Market Value (US$ Million) by Country, 2024 to 2034
Figure 22: North America Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 23: North America Market Volume (Units) Analysis by Country, 2019 to 2034
Figure 24: North America Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 25: North America Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 26: North America Market Value (US$ Million) Analysis by Product, 2019 to 2034
Figure 27: North America Market Volume (Units) Analysis by Product, 2019 to 2034
Figure 28: North America Market Value Share (%) and BPS Analysis by Product, 2024 to 2034
Figure 29: North America Market Y-o-Y Growth (%) Projections by Product, 2024 to 2034
Figure 30: North America Market Value (US$ Million) Analysis by Video Quality, 2019 to 2034
Figure 31: North America Market Volume (Units) Analysis by Video Quality, 2019 to 2034
Figure 32: North America Market Value Share (%) and BPS Analysis by Video Quality, 2024 to 2034
Figure 33: North America Market Y-o-Y Growth (%) Projections by Video Quality, 2024 to 2034
Figure 34: North America Market Attractiveness by Product, 2024 to 2034
Figure 35: North America Market Attractiveness by Video Quality, 2024 to 2034
Figure 36: North America Market Attractiveness by Country, 2024 to 2034
Figure 37: Latin America Market Value (US$ Million) by Product, 2024 to 2034
Figure 38: Latin America Market Value (US$ Million) by Video Quality, 2024 to 2034
Figure 39: Latin America Market Value (US$ Million) by Country, 2024 to 2034
Figure 40: Latin America Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 41: Latin America Market Volume (Units) Analysis by Country, 2019 to 2034
Figure 42: Latin America Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 43: Latin America Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 44: Latin America Market Value (US$ Million) Analysis by Product, 2019 to 2034
Figure 45: Latin America Market Volume (Units) Analysis by Product, 2019 to 2034
Figure 46: Latin America Market Value Share (%) and BPS Analysis by Product, 2024 to 2034
Figure 47: Latin America Market Y-o-Y Growth (%) Projections by Product, 2024 to 2034
Figure 48: Latin America Market Value (US$ Million) Analysis by Video Quality, 2019 to 2034
Figure 49: Latin America Market Volume (Units) Analysis by Video Quality, 2019 to 2034
Figure 50: Latin America Market Value Share (%) and BPS Analysis by Video Quality, 2024 to 2034
Figure 51: Latin America Market Y-o-Y Growth (%) Projections by Video Quality, 2024 to 2034
Figure 52: Latin America Market Attractiveness by Product, 2024 to 2034
Figure 53: Latin America Market Attractiveness by Video Quality, 2024 to 2034
Figure 54: Latin America Market Attractiveness by Country, 2024 to 2034
Figure 55: Western Europe Market Value (US$ Million) by Product, 2024 to 2034
Figure 56: Western Europe Market Value (US$ Million) by Video Quality, 2024 to 2034
Figure 57: Western Europe Market Value (US$ Million) by Country, 2024 to 2034
Figure 58: Western Europe Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 59: Western Europe Market Volume (Units) Analysis by Country, 2019 to 2034
Figure 60: Western Europe Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 61: Western Europe Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 62: Western Europe Market Value (US$ Million) Analysis by Product, 2019 to 2034
Figure 63: Western Europe Market Volume (Units) Analysis by Product, 2019 to 2034
Figure 64: Western Europe Market Value Share (%) and BPS Analysis by Product, 2024 to 2034
Figure 65: Western Europe Market Y-o-Y Growth (%) Projections by Product, 2024 to 2034
Figure 66: Western Europe Market Value (US$ Million) Analysis by Video Quality, 2019 to 2034
Figure 67: Western Europe Market Volume (Units) Analysis by Video Quality, 2019 to 2034
Figure 68: Western Europe Market Value Share (%) and BPS Analysis by Video Quality, 2024 to 2034
Figure 69: Western Europe Market Y-o-Y Growth (%) Projections by Video Quality, 2024 to 2034
Figure 70: Western Europe Market Attractiveness by Product, 2024 to 2034
Figure 71: Western Europe Market Attractiveness by Video Quality, 2024 to 2034
Figure 72: Western Europe Market Attractiveness by Country, 2024 to 2034
Figure 73: Eastern Europe Market Value (US$ Million) by Product, 2024 to 2034
Figure 74: Eastern Europe Market Value (US$ Million) by Video Quality, 2024 to 2034
Figure 75: Eastern Europe Market Value (US$ Million) by Country, 2024 to 2034
Figure 76: Eastern Europe Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 77: Eastern Europe Market Volume (Units) Analysis by Country, 2019 to 2034
Figure 78: Eastern Europe Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 79: Eastern Europe Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 80: Eastern Europe Market Value (US$ Million) Analysis by Product, 2019 to 2034
Figure 81: Eastern Europe Market Volume (Units) Analysis by Product, 2019 to 2034
Figure 82: Eastern Europe Market Value Share (%) and BPS Analysis by Product, 2024 to 2034
Figure 83: Eastern Europe Market Y-o-Y Growth (%) Projections by Product, 2024 to 2034
Figure 84: Eastern Europe Market Value (US$ Million) Analysis by Video Quality, 2019 to 2034
Figure 85: Eastern Europe Market Volume (Units) Analysis by Video Quality, 2019 to 2034
Figure 86: Eastern Europe Market Value Share (%) and BPS Analysis by Video Quality, 2024 to 2034
Figure 87: Eastern Europe Market Y-o-Y Growth (%) Projections by Video Quality, 2024 to 2034
Figure 88: Eastern Europe Market Attractiveness by Product, 2024 to 2034
Figure 89: Eastern Europe Market Attractiveness by Video Quality, 2024 to 2034
Figure 90: Eastern Europe Market Attractiveness by Country, 2024 to 2034
Figure 91: South Asia and Pacific Market Value (US$ Million) by Product, 2024 to 2034
Figure 92: South Asia and Pacific Market Value (US$ Million) by Video Quality, 2024 to 2034
Figure 93: South Asia and Pacific Market Value (US$ Million) by Country, 2024 to 2034
Figure 94: South Asia and Pacific Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 95: South Asia and Pacific Market Volume (Units) Analysis by Country, 2019 to 2034
Figure 96: South Asia and Pacific Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 97: South Asia and Pacific Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 98: South Asia and Pacific Market Value (US$ Million) Analysis by Product, 2019 to 2034
Figure 99: South Asia and Pacific Market Volume (Units) Analysis by Product, 2019 to 2034
Figure 100: South Asia and Pacific Market Value Share (%) and BPS Analysis by Product, 2024 to 2034
Figure 101: South Asia and Pacific Market Y-o-Y Growth (%) Projections by Product, 2024 to 2034
Figure 102: South Asia and Pacific Market Value (US$ Million) Analysis by Video Quality, 2019 to 2034
Figure 103: South Asia and Pacific Market Volume (Units) Analysis by Video Quality, 2019 to 2034
Figure 104: South Asia and Pacific Market Value Share (%) and BPS Analysis by Video Quality, 2024 to 2034
Figure 105: South Asia and Pacific Market Y-o-Y Growth (%) Projections by Video Quality, 2024 to 2034
Figure 106: South Asia and Pacific Market Attractiveness by Product, 2024 to 2034
Figure 107: South Asia and Pacific Market Attractiveness by Video Quality, 2024 to 2034
Figure 108: South Asia and Pacific Market Attractiveness by Country, 2024 to 2034
Figure 109: East Asia Market Value (US$ Million) by Product, 2024 to 2034
Figure 110: East Asia Market Value (US$ Million) by Video Quality, 2024 to 2034
Figure 111: East Asia Market Value (US$ Million) by Country, 2024 to 2034
Figure 112: East Asia Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 113: East Asia Market Volume (Units) Analysis by Country, 2019 to 2034
Figure 114: East Asia Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 115: East Asia Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 116: East Asia Market Value (US$ Million) Analysis by Product, 2019 to 2034
Figure 117: East Asia Market Volume (Units) Analysis by Product, 2019 to 2034
Figure 118: East Asia Market Value Share (%) and BPS Analysis by Product, 2024 to 2034
Figure 119: East Asia Market Y-o-Y Growth (%) Projections by Product, 2024 to 2034
Figure 120: East Asia Market Value (US$ Million) Analysis by Video Quality, 2019 to 2034
Figure 121: East Asia Market Volume (Units) Analysis by Video Quality, 2019 to 2034
Figure 122: East Asia Market Value Share (%) and BPS Analysis by Video Quality, 2024 to 2034
Figure 123: East Asia Market Y-o-Y Growth (%) Projections by Video Quality, 2024 to 2034
Figure 124: East Asia Market Attractiveness by Product, 2024 to 2034
Figure 125: East Asia Market Attractiveness by Video Quality, 2024 to 2034
Figure 126: East Asia Market Attractiveness by Country, 2024 to 2034
Figure 127: Middle East and Africa Market Value (US$ Million) by Product, 2024 to 2034
Figure 128: Middle East and Africa Market Value (US$ Million) by Video Quality, 2024 to 2034
Figure 129: Middle East and Africa Market Value (US$ Million) by Country, 2024 to 2034
Figure 130: Middle East and Africa Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 131: Middle East and Africa Market Volume (Units) Analysis by Country, 2019 to 2034
Figure 132: Middle East and Africa Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 133: Middle East and Africa Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 134: Middle East and Africa Market Value (US$ Million) Analysis by Product, 2019 to 2034
Figure 135: Middle East and Africa Market Volume (Units) Analysis by Product, 2019 to 2034
Figure 136: Middle East and Africa Market Value Share (%) and BPS Analysis by Product, 2024 to 2034
Figure 137: Middle East and Africa Market Y-o-Y Growth (%) Projections by Product, 2024 to 2034
Figure 138: Middle East and Africa Market Value (US$ Million) Analysis by Video Quality, 2019 to 2034
Figure 139: Middle East and Africa Market Volume (Units) Analysis by Video Quality, 2019 to 2034
Figure 140: Middle East and Africa Market Value Share (%) and BPS Analysis by Video Quality, 2024 to 2034
Figure 141: Middle East and Africa Market Y-o-Y Growth (%) Projections by Video Quality, 2024 to 2034
Figure 142: Middle East and Africa Market Attractiveness by Product, 2024 to 2034
Figure 143: Middle East and Africa Market Attractiveness by Video Quality, 2024 to 2034
Figure 144: Middle East and Africa Market Attractiveness by Country, 2024 to 2034
The market is expected to be worth USD 37,245.54 million in 2024.
The market is expected to reach USD 64,226.39 million by 2034.
The market is in line to develop at a CAGR of 5.60% from 2024 to 2034.
Humax Co. Ltd., Huawei Technologies Co. Ltd., Kaonmedia Co. Ltd., Technicolor SA, ADB (Advanced Digital Broadcast) SA, Sagemcom SAS, and Samsung Electronics Co. Ltd., are some of the major players in the market.
The market valuation in 2023 was USD 35,270.4 million.
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