The global 4K Set-top Box (STB) market size is
projected to reach USD 7.18 billion by 2024. The growing inclination of the
global public towards ultra-high definition video viewing can be attributed as
a major reason for the 4K STB market growth.
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The demand for media-rich home entertainment
services among consumers is increasing and is anticipated to fuel market
growth. The growth is further fostered by favorable government initiatives,
large-scale digitization programs, and mandatory installation of set top boxes.
Improved standard of living owing to increased purchasing power is positively
impacting the industry growth.
The initiatives undertaken by the Federal
Communications Commission for supporting third party STB manufacturers is
paving the way for the expansion of the Ultra High-Definition (UHD) STB
industry. The 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.
The increasing penetration of 3D and 4K TVs and
escalating demand for large screen displays are fueling the demand for Ultra
High-Definition (UHD) STBs. Smart features such as STB operability through
voice commands given by Remote Control Unit (RCU) is garnering high potential.
The computational capabilities of STBs in combination with the advent of
quality standards to satiate growing customer expectations have culminated in
the STB market growth.
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Further
key findings from the report suggest:
·
Internet Protocol Television (IPTV) 4K
STBs accounted for over 20% of the market share in 2015 and are expected to
witness considerable growth over the forecast period. Increasing broadband
penetration can be attributed as the major reason for the rise in the market
share of IPTV 4K Set-top Box devices. The IPTV set top box product segment is
projected to gain traction owing to benefits such as integration of TV, PC,
home phone, and wireless devices offering a high quality of viewing experience
to the end-users.
·
The Asia Pacific 4K STB market was
valued at over just over USD 50 million in 2015 and is projected to witness
high growth over the next eight years. India is poised to emerge as a lucrative
market for UHD STBs with the country expected to witness a CAGR substantially
higher than the regional average. Several DTH operators such as Tata Sky,
Videocon, and Airtel have launched UHD STBs and are attempting to achieve a
higher rural penetration with affordable regional packages.
·
Key industry participants include ZTE
Corporation, SAGEMCOM, Arion Technology, Roku Inc., and Infomir LLC.
Manufacturers are emphasizing on UHD STBs incorporated with interactive 4K
content to gain a competitive edge in the industry.
·
Technology giants such as Apple Inc.
have managed to make their mark in this competitive industry. The Apple TV
device aids the streaming of (Over-The-Top) OTT content and other videos over
the internet. The launch of advanced OTT devices such as Google Inc.’s
Chromecast media streaming device and Amazon’s Fire TV STBs have opened up new
avenues in the industry.
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Michelle Thoras
201 Spear Street 1100,
Suite 3036, San Francisco,
CA 94105, United States
Tel: 1-415-349-0054
Toll Free: 1-888-928-9744
Mail: sales@radiantinsights.com
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