The global 4K
Set-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.
Browse full research report on 4K Set-top Box (STB) Market: https://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.
Browse more reports of this category
by Grand View Research: 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
- U.S.
- Canada
- Europe
- Germany
- UK
- Asia Pacific
- India
- China
- Japan
- Latin America
- Brazil
- Mexico
- MEA
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.
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