Television and Set Top Box Market Size (2024 - 2029)

TV Set Top Box Market Analysis

The Television and Set Top Box Market size in terms of shipment volume is expected to grow from 290.98 Million units in 2024 to 381.02 Million units by 2029, at a CAGR of 5.54% during the forecast period (2024-2029).

• The surge in the adoption of artificial intelligence (AI) in set-top boxes, the rising internet penetration and broadband adoption in emerging markets, continuous deployment of OS-based devices is playing a very significant role in driving the market.
• The government regulations mandating the installation of set-top boxes, deployment of available OS-based devices by STB vendors, and analog switch-off transition in emerging countries are driving the demand for the STB market. For instance, the Government of India has made STBs compulsory through an amendment to the Cable Television Networks (Regulation) Act. STBs provide a better viewing experience because of digital signals and help prevent illegal channels from being broadcasted in India.
• Moreover, in the last quarter of the previous year, the four-member committee formed by the Ministry of Information and Broadcasting (MIB) to review guidelines for TV rating agencies in India recommended that the provision for Return Path Data (RPD) be made a mandatory capability in all future set-top boxes (STBs) deployed by Distribution Platform Operators (DPOs) so that the RPD becomes a ubiquitous capability on par with encryption, conditional access, and other such mandatory STB-level capabilities.
• Also, the rise in various technological innovations led to development a wide range of STBs with various innovative features. This, in turn, has made the competition fierce among the set-top box companies. Moreover, digital video recording is one of the most desired features, enabling viewers to watch and record their favorite shows.
• Additionally, the market is witnessing the integration of digital entertainment services and IPTV. For instance, in the second quarter of this year, Asia's first 4K RDK IPTV box provider Skyworth Digital announced that Bhimavaram Community Network (BCN), India's multi-system operator, had selected Skyworth Digital as the source of BCN's digital entertainment offerings.
• Also, according to Conviva, the most popular OTT TV device as of Q1 2021 was Roku, with a 37% share of TV viewing time in North America. Moreover, enhanced viewer experience, owing to the advent of technologies such as 4K, coupled with better infrastructure and devices, has led to the emergence of bundled voice video and data services. Further, TV viewership continued to surge during the pandemic, as reported by the television viewership measurement agency Broadcast Audience Research Council of India (BARC India). Such trends are further expected to act as catalysts for the growth of the studied market.
• The COVID-19 pandemic led to lockdowns imposed by the government to curb the spread of the virus. The lockdown across countries has affected the supply chains of various telecom service providers. In the 3rd quarter of the last year, Airtel DTH arm announced plans to stop imports of high-definition set-top boxes by the end of last year to tackle the COVID-19-induced supply chain disruption and make locally developed set-top boxes. However, the COVID-19 pandemic also led to an increase in over-the-top (OTT) services. OTT platforms, such as Hulu, Prime Video, Netflix, and more, have all announced their increase in subscriber rates. The shift toward OTT services has led service providers to offer hybrid set-top boxes that provide live streaming and over-the-top content.

TV Set Top Box Industry Segmentation

The study covers market sizes and trends for television sets and set-top boxes. A set-top box has been defined as a device that facilitates the television to become a user interface to the internet and equips a television to receive and decode digital television (DTV) broadcasts. The market study has also mapped the significant impacts of the COVID-19 pandemic and other macroeconomic indicators to arrive at the overall market projections.

The set-top box Market is segmented by technology (Satellite/DTH, IPTV, and Cable), Resolution (SD, HD, and Ultra-HD and higher), and Geography (North America, Europe, Asia-Pacific, and Rest of the World). The Global Television Market is segmented by Resolution (HD/FHD, 4K, and 8K), Size (32 inch and below, 39-43-inch, 48-50-inch, 55-60 inch, and 65 inch and above), Technology (LCD, OLED, and QLED), and Geography (North America, Europe, Asia-Pacific, and Rest of the World).

The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.