A set-top box refers to the device that receives, interprets and displays the digital signal on a television. It converts a digital television signal into an analog signal, which can be viewed on a conventional television set. It allows access to various types of audio and video content that is received via telephone or cable connection. It is generally equipped with a random access memory (RAM), power supply system, decoder, audio and video interference system, a front panel and end flash and radio frequency (RF) modulator, software drivers and hardware blocks. Some of the popular variants of set-top boxes available in the market include high-definition television (HDTV) tuners, DirectTV receivers, All-in-one receivers, and Cable HDTV receivers.
The global set-top box market reached a value of US$ 22.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 25.2 Billion by 2027, exhibiting a CAGR of 1.75% during 2022-2027.
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The rapid outbreak of coronavirus disease (COVID-19) and the subsequent lockdown restrictions have negatively impacted the set-top box market across the globe. The mandatory closure of retail shops and home delivery services adversely affected the sales of set-top boxes during the onset of the pandemic. However, with the gradual easing of restrictions across the globe, multiple key players are partnering with local manufacturers for the domestic manufacturing of set-top boxes to tackle the supply chain disruption.
Global Set-Top Box Market Trends:
The global market is primarily driven by the rising penetration of high-speed internet connectivity. Additionally, the increasing popularity of over-the-top (OTT) platforms among individuals has encouraged key players to collaborate with leading production companies, including Amazon Prime, Netflix and Hotstar, to gain a competitive edge, thereby creating a positive market outlook. Besides this, the widespread popularity of on-demand video services and high-definition (HD) channels are also significantly supporting the product demand across the globe. Moreover, the growing investments by leading players in product innovations have led to the launch of a vast range of set-top boxes integrated with various features, such as digital video recording and Bluetooth connectivity, which are further gaining prominence among customers.
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Global Set-Top Box Market 2022-2027 Analysis and Segmentation:
Competitive Landscape With Key Players:
Also Read Blog: Top Set-Top Box Companies in World
Key highlights of the Report:
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