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Global 4K Set-Top Box Market to Reach Over USD 6.10 Billion by 2027, Aided by the Increasing Digitisation of Cable TV Networks

According to a new report by EMR titled, ‘Global 4K Set-Top Box Market Report and Forecast 2022-2027’, the global 4K set-top-box market reached a value of more than USD 4.8 billion in 2021. The industry is further expected to grow at a CAGR of 4.10% in the forecast period of 2022-2027 to reach a value of over USD 6.10 billion by 2027.

Increased digitalisation and rising demand for smart TVs and 4K TVs are important drivers driving growth in the worldwide 4K set-top box (STB) market. The government measures requiring the installation of set-top boxes is a factor fuelling the growth of the worldwide 4K set-top box (STB) market. In addition, several digital broadcast providers, such as Tata Sky, Airtel, and others, provide 4K set-top boxes to give super HD video quality and an enhanced watching experience, which drives the market growth. Another factor driving market expansion is the expanding popularity of on-demand entertainment services such as movies, music, videos, and games and the increased use of Over the Top (OTT) media services. Furthermore, the rising demand for media and entertainment services due to the COVID-19 pandemic and increased time spent indoors boost the market growth. In addition, a change in development towards enterprises mobility with various applications such as YouTube, Twitter, Facebook, and Instagram, among others, has increased significant traction in business premises. This is expected to increase the demand for 4K set-top boxes in the forecast period.

Over the last few years, the television industry has undergone numerous changes, and it has become more diverse than ever. The players are constantly innovating and seeking market development through various strategic mergers, acquisitions, and collaborations. Technicolor, for example, delivered next-generation Android TV set-top boxes (STBs) for TIM in September 2021 to enable Italian consumers with access to premium services from broadcasters and over-the-top (OTT) providers like Netflix (NASDAQ: NFLX), Amazon (NASDAQ: AMZN), Infinity, Disney+, and DAZN, among others. The STBs run on Technicolor Connected Home's JADE platform, which incorporates Wi-Fi 6 and Android ten and ready-to-install accessories like personal video recorders and far-field voice. Technicolor Connected Home would also roll out a software upgrade as part of this rollout to enable existing customers in TIM's current installed base to access additional services.

Market Analysis by Type, Application, and Regions:

  • The types in the market are internet protocol television (IPTV), digital terrestrial television (DTT), over-the-top set-top boxes (OTT), satellite television, and hybrid television set-top box.
  • The application sectors of the industry are residential and commercial.
  • The regional markets for the 4K set-top-box include North America, Europe, Asia Pacific, Latin America, and the Middle East, and Africa.

Key Findings of the Report:

  • Due to expanding internet and broadband penetration, the industry is expected to rise in the coming years.
  • The 4K set-top boxes allow customers to do things like browsing the web, video chat, and downloading software without using an HDM cable, which is expected to enhance the market.
  • The growing need for HD channels and on-demand video services is expected to propel the market to grow. High-definition televisions are driving up demand for satellite set-top boxes, which offer a varied range of entertainment with sharp visuals and excellent surround sound.
  • Rising disposable income and rising standards of living are further augmenting the market's growth.
  • The increasing demand for various new technological advancements in 4K technology is anticipated to boost this market in the coming years.

Key Offerings of the Report:

  • The EMR report gives an overview of the global 4K set-top box market for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecasted (2022-2027) markets for type, application, and major 4K set-top-box regions.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global 4K set-top-box industry are Technicolor SA, Roku, Inc., Infomir Group, Huawei Technologies Co., Ltd., Humax Co., Ltd., DISH Network Corporation, and Tata Sky, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium-sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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