Set-Top Box Market Size - By Type (Cable, Satellite, IPTV/OTT, Hybrid), By Recording (DVR, Non-DVR), By End User (Residential, Commercial), By Sales Channel & Forecast, 2024 – 2032

Set-Top Box Market Size

Set-Top Box Market size was valued at USD 20.05 billion in 2023 and is anticipated to grow at a CAGR of 3.3% between 2024 and 2032, due to growing adoption of OTT services such as Netflix.com, Amazon prime and Disney plus hotstar which offer a variety of content and features to the users.
 

OTT services can be accessed through smart set top box that connect to the Internet and stream content directly to the TV. The increasing demand for 4K and HDR content which offer higher resolution and quality of video and audio can be delivered through set-top box that supports UHD and higher resolution and have advanced decoding and processing capabilities.
 

The rise of smart homes which integrated various devices and appliances to create a connected and convenient living environment. Smart set top boxes can be integrated with other smart home devices such as home automation systems smart speakers and cameras and offer voice control and remote access features.
 

Thus, the increasing availability of high-speed Internet and growing popularity of streaming services which enable user to access and enjoy various types of media content such as movies, shows, music’s from online platforms or local storage devices set-top boxes can enhance their user experience by offering them faster and smoother streaming better sound and picture quality and personalized recommendations.
 

The increasing inclination of consumers towards OTT platforms such as Netflix com Amazon prime which offer a variety of content and features to the user. OTT platform can be accessed through smart devices such as smart phones tablets laptops and smart tvs without the need for a set-top box especially in developed regions where broadband connectivity and OTT subscriptions are high.
 

The lack of standardization and interoperability also hinders the innovation and adoption of new technologies and services in the market.

Set-Top Box Market Trends

The shift from traditional cable and satellite TV to over the top OTT platforms such as Netflix come Amazon Prime Video and Disney plus which offer a variety of content and features to the users OTT platforms can be accessed through smart devices such as smartphones tablets laptops and smart TVs without the need for a set-top box however some users still prefer to use set-top boxes to access OTT services as they offer faster and smoother streaming, better sound and picture quality and personalised recommendations.
 

Smart set-top boxes can be integrated with other smart home devices and offer voice controller remote access features. The rise of smart homes is fuelled by technological advancement and the increasing consumer preference for convenience and comfort.
 

Set-Box Market Analysis

Based on the product type the market is divided into various categories which includes cable, satellites, IPTV/Ott, hybrid. The satellite segment holds the maximum share in the market with around USD 7.68 billion in 2023 and is set to expand at a CAGR of 3.3% during the forecasted time frame.
 

This segment refers to the different types of setup boxes available in the market based on the technology they use to receive and transmit signals. The cable STBs connect to a coaxial cable network and offer a range of channels and services. The satellite STBs receive signals from a satellite dish and provide access to satellite TV channels and services.
 

Based on recording, the set-top box market is segmented into DVR and Non-DVR. The DVR segment held 51% of the total market share in 2023 and is poised to record a CAGR of 3.8% through 2032.

The DVR segment remains a significant player, though potentially declining, within the market. This functionality allows viewers to record and pause live TV, rewind commercials, and watch programs at their convenience. The rise of cloud-based DVRs with more storage and remote access capabilities could revitalize this segment, but it faces competition from the ever-growing popularity of on-demand streaming services.
 

The Asia Pacific set-top box market size dominated around USD 8.28 billion in 2023 and is expected to register a CAGR of 3.9% between 2024 and 2032. The market is poised for substantial growth in the coming years driven by factors such as rapid urbanization digital transformation and changing consumer preferences.
 

The residential segment dominates the market driven by the large population and growing middle class in Asia Pacific countries which framework digital entertainment for household use. Government initiatives in several countries to digitalise transmission and improve TV accessibility have further boosted the market.
 

North America: In terms of country, the U.S. dominated the set-top box market with a revenue of around USD 3,103.1 million in 2023 and is expected to grow at a CAGR of 2.9% by 2032. In the U.S., the market is evolving rapidly with the increasing adoption of streaming services and the shift towards market TVs and OTT platforms. Traditional cable set top boxes are being replaced or integrated with advanced features such as 4K resolution, HDR support, voice control and integration with smart home devices in the country.
 

Canada's set top box market shares similarities with the US but also faces unique regulatory and market dynamics. The Canadian market is also seeing a shift towards internal protocol television and OTT services as consumer demands more flexibility and access to a broader range of content in the country.
 

Europe: The European set top box industry is characterised by a diverse and rapidly evolving landscape driven by technological advancements and shifting consumer preferences. The market is influenced by the strong presence of both traditional broadcast operators and new OTT service providers.
 

In Germany, the set top box market is robust and highly competitive with significant contribution from major telecom operators. These companies offer advanced set top boxes that integrate traditional broadcast services with streaming platforms catering to the increasing consumer preference for on-demand content.
 

Asia Pacific: The Asia Pacific set-top box market was valued at around USD 8,289.3 million in 2023 and is anticipated to register a CAGR of 4.9% between 2024 and 2032.
 

In terms of country, the China set top box industry is highly dynamic and driven by the rapid growth of digital and smart TV technologies. The Chinese market is characterised by a significant shift from traditional cable TV to OTT services supported by the widespread availability of high-speed Internet and the increasing penetration of smart devices.
 

In India, the set top box market is undergoing significant transformation due to the digitalization of television and the growing popularity of OTT platforms. The Indian government mandate for the digitalisation of cable TV has been a major catalyst for the adoption of digital set top boxes which provide better picture quality and additional features compared to analogue systems in the country.
 

Set-Top Box Market Share

Key players in the smart baby monitor market are Sagemcom SAS, Kaon Media Company, Technicolour SA, Humax Company, CommScope, Incorporation, Samsung Electronics. Together these companies account for around 20%-25% of the total market share. The companies provide video devices broadband devices and software solution for the media and entertainment industry. Intech digital aquarium company that specialisation in digital broadcasting solutions such as satellite, iptv and OTT setup boxes. They produce various types of setup boxes with high quality resolutions and AI powered set of boxes are being also into consideration where many companies are investing on these projects.
 

Set-Top Box Market Companies

Major companies operating in the set-top box industry include:

• Apple Inc
• ARRIS International
• CommScope, Inc. (Arris)
• Dish network Corporation
• EchoStar Corporation
• Huawei Technologies Co
• Humax Co.
• Intek Digital Inc
• Kaon Media Co., Ltd.
• Sagemcom SAS
• Samsung Electronics
• Shenzhen Skyworth Digital Technology
• Skyworth Digital Co., Ltd
• Technicolour SA
• Vestel Incorporation
• ZTE Corporation
   

Set-Top Box Industry News

• On September 2022, Vestel European manufacturer of consumer electronics unveiled its new 97 X series of 4K USD setup boxes. The new series features android tv level operating systems google assistant and Netflix integration.
   
• In November 2023, technicolour launch next generation Android TV set top boxes for TIM, providing Italian homes access to premium services from broadcasters and OTT providers.
   
• In August 2023, GTPL Hathway limited launch the GTPL Genie a hybrid Android TV set top box combining live TV and OTT channels and this product aims to enhance the TV viewing experience by integrating traditional cable TV with modern OTT features.
   

The set-top box market research report includes in-depth coverage of the industry, with estimates & forecasts in terms of revenue (USD million) from 2021 to 2032, for the following segments:

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Market, By Type

• Cable
• Satellite STB
• IPTV/OTT
• Hybrid

Market, By Recording

• DVR
• Non-DVR

Market, By End Use

• Residential
• Commercial

Market, By Sales Channel

• Online
• Offline

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific 
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• MEA
  • Saudi Arabia
  • UAE
  • South Africa
  • Rest of MEA