Increasing Shift to Watch Premium IP and OTT Content fueling Demand for Hybrid Set-top boxes

Jun 07, 2019

The high consumption of HD streaming content is driving production of smart set-top boxes.

Arizton’s recent research report on the global smart set-top box market identifies CommScope, Technicolor, Apple, and Skyworth as the prominent vendors in the market. The research report provides comprehensive industry analysis, trend forecasts, and competitive analysis. The study segments the market by technology (OTT, IPTV, and hybrid), end-user (residential and commercial), distribution (retail and online), and geography (APAC, Europe, Latin America, MEA, and North America).

The global smart set-top box market is expected to reach revenues of over $1.5 billion, growing at a CAGR of around 8% during 2018−2024.

Governments worldwide are pushing toward the adoption of smart appliances to reduce energy consumption. The share of content broadcasted over the internet and OTT platforms is growing, primarily driven by the increased penetration and adoption of high-speed internet services globally and the availability of high-quality entertainment content over this medium.

Request for a Free Sample!

 The top drivers and trends driving the growth of the smart set-top box market are discussed below:

Rising Internet Penetration & Shift Toward Over the Top Content

The growing internet penetration and the increasing consumption of OTT content on smartphones and other handheld devices are major drivers for the smart set-top box market. The worldwide internet penetration is set to grow 59% by 2022, which is increasing opportunities for the smart set-top box market. Further, smartphone subscriptions are expected to increase, with the mobile traffic constituting 68% of the total data traffic. Further, the increasing shift of consumers to watch premium IP and OTT content over the internet is fueling the demand for hybrid set-top boxes, which can deliver linear channels through cable or DTH as well as IP and OTT content thorough inbuilt internet access points and applications.

Growing Demand for Energy-efficient Products

Smart appliances play a major role in increasing energy efficiency in households. A smart home equipped with connected devices, appliances, and sensors can be controlled or monitored remotely. These technologies allow consumers to effectively manage the level of energy consumption. Studies suggest that connected technologies at homes can reduce utility bills by 10−25%. The rising demand for energy-efficient smart appliances is expected to generate high innovation opportunities for smart set-top boxes during the forecast period. The introduction of artificial intelligence and voice assistant technology is also fueling market growth. Several vendors have launched smart set-top boxes with inbuilt smart assistants such as Amazon Alexa and Google Assistant. Like other connected devices, smart set-top devices consume a small quantity of energy.

Increasing Digitization in Emerging Economies Worldwide

Consumers worldwide are opting for HD content over linear as well as IP and OTT channels. Developed countries are witnessing an increase in the adoption of HD and smart televisions, representing the acceptability of HD, 4K, and UHD content. The introduction of new HD channels/content or the availability of existing channels in the HD format is driving the demand for HD capable devices in emerging and developing countries. Thus, the high consumption of HD streaming content is driving the production of smart set-top boxes. Further, stringent government and federal regulations, mandating the digitization of cable networks in highly populated countries such as India and China are expected to augur well for the market.

ZTE, Evolution Digital, Huawei, AirTies, Xiaomi, Humax, TelergyHD, Comcast, Arion, KAON, Bharti Airtel, Hathway (Reliance Industries), YuppTV (Global Takeoff), MyBox Technologies are identified as other prominent vendors in the global smart set-top box market.

Request for a Free Sample!

The complete overview of the latest market research report on the global smart set-top box market by Arizton is now available.

The report offers a detailed study of major trends, drivers, challenges, and provides the market size and forecast for major geographical regions and key countries.

About Arizton

Arizton – Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.

We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare, and life sciences, industrial machinery, chemicals and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.

Arizton comprises a team of exuberant and well-experienced analysts who have mastered in generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.

Mail: enquiry@arizton.com

Call:  +1-312-235-2040

          +1 302 469 0707

Mar 07, 2024

Projected Surge in Global Robot Waiter Market Fueled by Hospitality Industry Investment and Innovation – Arizton

More than $1.97 Billion Revenue to be Generated by 2028  ...

Mar 05, 2024

Robotic Technology Revolutionizes Parts Washer Market, More than $1.93 Billion Opportunities for Market Leaders in the Next 6 Years

Global Parts Washer Market Expands, Fueled by Demand for Energy-Efficient Solutions and Aqueous-Base...

Mar 01, 2024

Modular Data Center Market to Hit $41.87 Billion Investment Opportunities in the Next 6 Years - Arizton

The global modular data center market has surged in recent years, driven by escalating demand for sc...

LATEST POSTS
VIEW RELATED REPORT

Smart Set Top Box (STB) Market - Global Outlook and Forecast 2019-2024

OTHER CATEGORIES