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Shibuya-ku, Tokyo, Japan, Japan, Feb 03, 2021, 04:07 /Comserve / -- Prominent Vendors in the Global Smart Set Top Box Market: CommScope, Technicolor, Apple, Skyworth
The smart STB market is likely to reach around $2 billion by 2024, growing at a CAGR of approximately 8% during 2018–2024. The smart STB market is witnessing rapid transformations. The growing consumption of hybrid content, digitization in emerging economies, the rising internet penetration, and growing demand from the commercial sector are some of the prominent factors leading to the growth of the smart STB market.
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Prominent Vendors in the Global Smart Set Top Box Market
• CommScope
• Technicolor
• Apple
• Skyworth
Key Vendor Analysis
The smart STB market is witnessing high consolidation wherein several vendors are joining forces or acquiring complementing vendors to strengthen their portfolio and to make a strong presence in the market. Although the smart STB market is characterized by the presence of diversified global and a few regional vendors, global players are likely to increase their footprint in the smart set top box market in the coming years. Further, the competition is expected to intensify during the forecast period with an increase in product/service extensions, technological innovations, and mergers and acquisitions.
Smart STB Market: Segmentation
The market research report includes a detailed segmentation of smart set top box market by technology, end-user, distribution, and geography. The smart STB market by technology can be segmented into OTT, IPTV, and Hybrid. The IPTV segment captured more than one-third of the global smart set top box market in 2018 and is expected to grow at a CAGR of around 6% during the forecast period.YouTube, Netflix, and Amazon Prime are the most popular platforms, which are gaining prominence in terms of content and delivery, thereby fueling demand for smart STB devices.
The smart STB market by end-user can be segmented into residential and commercial. The residential segment has a large market share in the smart set top box market by end-user and is expected to grow at a CAGR of around 8% during the forecast period. Increased internet penetration, government mandates for digitization regulations, and the shift from linear TV to non-linear and on-demand content have contributed to the significant growth of the segment. Further, the rise of hospitality and education industries is driving the demand for smart STBs in the commercial segment. The increasing trend of online classes and the advent of e-learning and digital classrooms have further contributed to the growth of the segment.
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"The Final Report will cover the impact analysis of COVID-19 on this industry (Global And Regional Market)."
The smart STB market by distribution channel is segmented into retail and online segments. In 2018, the retail segment contributed to the highest market revenue globally.The growth of online sales is set to increase at a steady rate during the forecast period as online stores offer more options to choose from and impart less bias toward non-sponsored products than retail stores. Several consumers that are avid users of e-tailing services seek to buy STB devices online because of the ease-of-accessibility and convenience afforded by such channels. The global set top box market sale is growing at a CAGR of 9% during the forecast period.
Table of Content
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.1.1 Inclusions
4.1.2 Exclusions
4.2 Base Year
4.3 Scope of the study
4.4 Market Segments
4.4.1 Market Segmentation by Technology
4.4.2 Market Segmentation by End-users
4.4.3 Market Segmentation by Distribution Channel
4.4.4 Market Segmentation by Geography
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
The market research report on the smart set top box (STB) market covers market sizing and forecast, market share, industry trends, growth drivers, and vendor analysis. The market study includes insights on segmentation by technology (OTT, IPTV, and Hybrid), end-users (residential and commercial), and geography (APAC, Europe, Latin America, MEA, and North America).
Key Market Insights
• Offers market sizing and growth prospects of the smart STB market for the forecast period 2019–2024
• Provides comprehensive insights on the latest industry trends, market forecast, and growth drivers in the smart STB market
• Includes a detailed analysis of market growth drivers, challenges, and investment opportunities
• Delivers a complete overview of market segments and the regional outlook of the smart STB market
• Offers an exhaustive summary of the vendor landscape, competitive analysis, and key market strategies to gain a competitive advantage in the smart STB market
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