Global STB Market to Hit $24 Billion by 2022

Transparency Market Research released a new report that forecasts that the global STB market will reach a value of $24 billion by 2022, with CAGR of 6.4% from 2015 onwards. The firm said that digitization continues to be a factor. 31% of the market is in the Asia Pacific region which also has the highest growth at 9.9%, helped by a growth in the pay TV subscriber base. On the other hand, mature markets such as North America that have already gone digital are being driven by IPTV and hybrid OTT boxes as well as streamed video in the home. The biggest share of the market is in cable boxes, which represents 34%, and a lot of switching to digital is still going on in this segment. 66% of the market was HD by 2014, although growth is expected in UltraHD and 8K in the future.

The table of contents of the report is at