The global 4KSet-top Box (STB) market size is projected to reach USD 7.18
billion by 2024, as per a new report by Grand View Research, Inc. 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.
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.
Full research report on 4K
Set-top Box (STB) market analysis: http://www.grandviewresearch.com/industry-analysis/4k-set-top-box-market
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.
View
more reports of this category by Grand View Research at: https://www.grandviewresearch.com/industry/digital-media
Grand View Research has segmented the global 4K Set-top Box (STB) market
on the basis of product and region:
4K Set-top Box (STB) Product Outlook
(Volume, Thousand Units; Revenue, USD Billion, 2013 - 2024)
·
IPTV
·
Satellite
·
DTT
·
OTT
·
Hybrid
4KSet Top Box (STB) Regional Outlook
(Volume, Thousand Units; Revenue, USD Billion, 2013 - 2024)
·
North America
o
U.S.
o
Canada
·
Europe
o
Germany
o
UK
·
Asia Pacific
o
India
o
China
o
Japan
·
Latin America
o
Brazil
o
Mexico
·
MEA
Access Full Press Release of this
Report:
https://www.grandviewresearch.com/press-release/global-4k-set-top-box-market
https://www.grandviewresearch.com/press-release/global-4k-set-top-box-market
About Grand View Research
Grand View
Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
