Global Set-top Box (STB) Sector Displays Exponential Growth Opportunities
IPTV is the largest and the fastest-growing segment in the mature STB market; 4K, HDR, and voice assistants are key features
Click image to view it in full size
The rising consumption of consumer streaming will drive the expansion of the over-the-top (OTT) ecosystem. This has prompted innovation in the global set-top box (STB) market, and streaming STBs will increasingly replace traditional devices throughout the forecast period (2019-2024). Unit shipment is expected to increase from 242.9 million in 2019 to 291.3 million in 2024 at a compound annual growth rate (CAGR) of 3.7%. To remain competitive and relevant in the market, vendors relentlessly add more features to their STBs. In addition to innovating with 4K and high dynamic range (HDR), the major vendors will integrate voice-activated personal assistants, such as Amazon Alexa and Google Assistant, into future models.
Readers who can benefit from the content found in this research service include STB vendors in the cable, satellite, and OTT and DTT segments; smart TV vendors; and complementary vendors such as middleware vendors, device vendors, and anyone looking to venture into the STB market.