Set-top Boxes Market Gains Attractive Business Avenues with Rising Global Trend of Using Smart TVs, States TMR Study

• The global set-top boxes market is projected to gain a valuation of US$ 35.2 Bn by 2031
• Increase in demand for high-resolution video quality and high-quality sound is generating sizable business opportunities for set-top boxes manufacturers

WILMINGTON, Del., July 6, 2022 /PRNewswire/ -- A research report by Transparency Market Research (TMR) notes that the global set-top boxes market is estimated to register growth at a CAGR of 6.4% during the forecast period, between 2022 and 2031. Hence, the set-top box market share is estimated to reach a value of US$ 35.2 Bn by 2031.

The TMR report provides detailed assessment of key factors influencing the growth trajectory of the set-top boxes market. Hence, readers gain access to many important facets including the growth drivers, challenges, emerging trends, recent developments, and top manufacturing companies in the set top box industry.

The set-top boxes market in Asia Pacific is expected to observe lucrative opportunities during the forecast period owing to factors such as improving spending power of the regional populace due to the expansion of the industrial sector in many regional countries. Moreover, the Asia Pacific set-top boxes market is being driven by the rapid growth of IT industry in the region.

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Set-top Boxes Market: Key Findings

• Companies operating in the Smart TVs industry are focused on providing more choices to their consumer base. Hence, they are offering access to additional services including YouTube, Netflix, and other streaming services. This factor, in turn, is resulting into profitable prospects for players in the global set-top boxes market.
  
  
• With a surge in the accessibility to the Internet around the world, the popularity of over-the-top (OTT) platforms is being increasing across the globe, according to analysts of the set-top boxes market. Using these services, a consumer can select their content according to their choice without a need to pay extra fees. Hence, a rise in the adoption of OTT platforms is fueling the sales growth in the set-top boxes market.
  
  
• Due to improving spending power of people worldwide, the adoption of smart TVs, HD, and Ultra HD channels is being increasing around the world, states a market survey on set-top box. Moreover, the technological advancements in latest TV devices are resulting into increased adoption of advanced set-top boxes, which in turn, is creating profitable prospects in the global set-top boxes market.
  
  
• Digital video recording is one of the key features from set-top boxes that can be used to record the ongoing shows on TV and can be watched later as per the convenience of users, notes a TMR study on the set-top boxes market. Moreover, these TVs can be used for accessing social media platforms and online video streaming platforms. Apart from this, these devices provide improved storage option with up to 2TB capacity. On the back of these advantages, the set-top boxes market is estimated to attract profitable prospects in the forthcoming years. Moreover, set top box manufacturers are anticipated to gain the advantage of rising trend of using TVs incorporated with set-top boxes.

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Set-top Boxes Market: Growth Boosters

• Increase in the demand for smart TVs offering dynamic content is creating profitable prospects in the global set-top boxes market
  
  
• Rise in focus of service providers on offering flexible subscription models is propelling the market

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Set-top Boxes Market: Key Players

Some of the key players profiled in the report are:

• Huawei Technologies Co., Ltd.
• Humax Co., Ltd.
• ADB (Advanced Digital Broadcast) SA
• Technicolor SA
• Samsung Electronics Co. Ltd.
• Apple, Inc.
• EchoStar Corporation
• ARRIS Group, Inc.
• Sagemcom SAS
• Kaonmedia Co. Ltd.

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Set-top Boxes Market Segmentation

• Type
• Cable STB
• Satellite STB
• IPTV STB
• HBB STV
• Hybrid
• Resolution
• Standard Definition STB
• High-Definition STB
• HD & Full HD
• UHD (Ultra-High Definition)
• 4K & Above
• Technology
• Satellite / DTH
• IPTV
• Cable
• Other Types (DTT and OTT)
• Distribution Channel
• Online
• Company Website
• E-commerce Website
• Offline
• Direct
• Indirect

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