STB Market to be Worth $29.78 Billion in 2024

Grand View Research of the US has said that the global STB market will reach a value of $29.78 billion by 2024 as the market has grown as a result of mandatory migration from analogue to digital cable delivery.

The company said that an emerging trend amongst the STB manufacturers is to provide remote control-less mobile-controlled TV operating systems, by adopting interfaces developed by companies such as Google, Firefox, and Roku. These companies use dedicated set top box devices for accessing such contents. Contemporary STBs are being used as content servers, acting as video sources for various devices including other set top boxes, digital televisions, personal computers, and other consumer electronics devices.

Further key findings from the report suggest:

  • DTT set top boxes dominated the market, accounting for over 25% of the global revenue in 2015. Optimum bandwidth usage through DTT is expected to fuel the demand for such STBs.
  • The global market for 4K STB was valued over $350 million in 2015 and is presumed to witness a significant growth in the near future. The growth can be attributed to the rising inclination of global population toward ultra-high definition video viewing.
  • The Asia Pacific region dominated the overall market share in 2015 and is expected to retain its dominance over the forecast period. The increasing consumer acceptance of technologically advanced products and government regulations mandating cable digitization across the region are presumed to spur the regional market growth.
  • STB OEMs and operators are heavily influenced by regulatory bodies and standard groups. For instance, to promote consumer electronics interoperability and retail STB competition, regulatory standards, such as DVB-CI+ in Europe and CableCARD in North America, are enabling the third-party STB vendors to become a part of the operator ecosystem.