The global 4KSet Top Box (STB) market size is expected to reach
USD 3.65 billion by 2024, according to a new report by Grand View Research,
Inc.
Increasing demand for UHD 4K
video content, surging sales of compatible 4K TVs and display devices is
expected to positively shape the Ultra High Definition (UHD) set top box
market’s growth prospects.
Content providers have begun
offering sharper and immersive video content to the consumers on account of
significant breakthroughs in the 4K technology. Large scale penetration of
smart TVs has proved to be instrumental in escalating the demand for such
sophisticated set top boxes. Industry vendors have leveraged on providing set
top boxes with enhanced broadcast capabilities on Digital Video
Broadcasting-Satellite (DVB-S/DVB-S2) standards.
Technology giants such as Apple
Inc. have managed to make their mark in this competitive market. The Apple TV
device streams video and OTT content over the internet. The introduction of
advanced OTT devices such as the Fire TV set top box devices from Amazon.com
and Chrome cast media streaming devices by Google Inc. have opened up major
growth avenues in the industry.
Increasing number of UHD
content providers is expected to propel industry growth and is presumed to
strengthen the industry’s growth prospects. However, high initial and up
gradation costs, along with high subscription fees for 4K content is expected
to challenge the industry growth over the forecast period.
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Further key findings
from the report suggest:
·
IPTVUHD set top
boxes contributed to over20% of the market revenue in 2014 and are anticipated
to witness significant growth over the next eight years. IPTV focuses on
network scalability, end-user applications, and infrastructure. With IPTV,
content is provided through an internet service provider’s own infrastructure,
thereby ensuring UHD content streaming across subscribed devices.
·
Hybrid set top
box devices are expected to witness a substantial CAGR of over 5% throughout
the forecast period. They enable smart TV programming and help viewers to
access multiple TV delivery methods including cable, terrestrial, satellite and
the internet. In addition, they include services such as video on demand,
time-shifting TV, internet applications, and gaming applications.
·
Projected to grow
at a CAGR of over 3% from 2016 to 2024, the North America UHD set top box is
expected to witness steady growth over the forecast period. STB hardware
vendors are extensively focusing on providing UHD STBs with add-on features
such as HDMI 2.0 multimedia interface and USB ports for playing media from
external memory devices.
·
The Asia Pacific
4K STB market accounted for over 25% of the global revenue share in 2014 and is
presumed to witness significant growth over the forecast period. China and
India are expected to incorporate considerable opportunities for regional
industry growth, due to the strong presence of UHD STB manufacturers. OTT-based
streaming devices are becoming the STB of choice for satellite TV providers in
emerging markets such as China and India, where open-source content is
abundant. The regional STB service providers harness the lucrative growth
prospects by offering packages with live streaming video along with their own
broadband offerings.
·
Key market
participants include Arion Technology, Amazon, Infomir, Roku, SAGEMCOM, and
ZTE. Vendors are increasingly offering energy efficient STB devices in order to
cut down energy consumption, specifically during their idle mode of operation.
Manufacturers and service providers across the globe are increasingly providing
advanced UHD STBs equipped with features such as interactive 4K content in
order to be competitive in the industry.
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@ http://www.grandviewresearch.com/industry-analysis/4k-set-top-box-market/request
About Grand View
Research
Grand View Research, Inc. is a U.S. based market research and
consulting company, registered in the State of California and headquartered in
San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
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Grand View Research, Inc.
United States
Phone: 1-415-349-0058
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Email: sales@grandviewresearch.com
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