A recent research report published by Transparency Market Research projects the global set-top boxes market to be worth US$24.00 bn by 2022. The report, titled “Set-Top Boxes Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 - 2022”, estimates the global set-top boxes market to expand at a CAGR of 6.4% during the period between 2015 and 2022.

The report states that proliferation of interactive features and the increasing digitization of broadcasting services worldwide have propelled the growth of the global set-top boxes market. The rising adoption of hybrid set-top boxes across emerging regions such as Latin America, Middle East & Africa, and Asia Pacific will further boost the market. However, competition from mobile and PC Over the Top (OTT) services and cable card providers will restrain the overall growth of the market during the forecast period. The global set-top boxes market has a huge opportunity to grow with the introduction of HEVC decoder in set-top box.

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Based on type, the report segments the global set-top boxes market into cable set-top boxes, satellite set-top boxes, HBB set-top boxes, and IPTV set-top boxes. In 2014, cable set-top boxes accounted for a share of 34% in the market and emerged as the largest segment. Most of the countries are undergoing the process of digitization switchover and this has encouraged a large number of pay TV operators to use cable set-top boxes. However, during the forecast period, the IPTV set-top boxes market is anticipated to expand at a CAGR of 10.7% owing to the increased adoption of IPTV set-top boxes among pay TV operators to address the surging internet video traffic. The growing usage of mobile TV has also contributed towards the growth of the IPTV set-top boxes segment.

On the basis of video quality, the report categorizes the global set-top boxes market into standard definition and high definition set-top boxes. High-definition set-top boxes segment accounted for 66% of the market in 2014. During the forecast period, the adoption of HD set-top boxes is expected to increase further due to demand for high-quality video formats.

The report studies the global set-top boxes market across five key regions: Europe, Asia Pacific, North America, Latin America, and Middle East & Africa. In 2014, Asia Pacific was the largest market for set-top boxes and held 31% share in the overall market. During the forecast period, the regional market is estimated to witness the fastest growth at a CAGR of 9.9%. The rapid growth of the market in Asia Pacific can be attributed to the increasing digitization switchover and a large pay TV subscriber base. Early digitization switchover in North America has led to adoption of set-top boxes in the region. Though the regional market is quite saturated, the growth of the market is anticipated to be fuelled by the adoption of IPTV and HBB set-top boxes during the forecast horizon.

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Describing competitive hierarchy, the report profiles some of the key players in the global set-top boxes market such as Samsung Electronics Co. Ltd., Apple Inc., Sagemcom SAS, EchoStar Corporation, Kaonmedia Co. Ltd., ARRIS Group Inc., Humax Co. Ltd., Huawei Technologies Co. Ltd., ADB (Advanced Digital Broadcast) SA, and Technicolor SA. The overall market is witnessing major merger and acquisition activities. In July 2015, Technicolor SA acquired Cisco Inc. to enhance its positioning across the market.

Global Set-Top Boxes Market has been segmented as:

Set-Top Boxes Market, by Type
Cable set-top boxes
Satellite set-top boxes
IPTV set-top boxes
HBB set-top boxes

Set-top Boxes Market, by Video Quality
Standard definition set-top boxes
High definition set-top boxes

Set-top Boxes Market, by geography:
North America
Europe
Asia Pacific
Latin America
Middle East & Africa

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