New York, June 27, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the publication of the report “4K Set-top Box Market: Segmented: By Product Type, By Application, and By Region – Global Size, Share and Trends Analysis for 2019-2021 and forecast to 2031″ – https://www.reportlinker.com/p06288827/?utm_source=GNW
This has led to fierce competition among set-top box vendors. A live digital video recording (DVR) system is a stand-alone set-top box that allows viewers to upload and record programs. Consumers can purchase set-top boxes from subscription N service providers in addition to DVRs. DISH Network, a US-based television provider, has included artificial intelligence (AI) in its new set-top boxes to enable recording capabilities. Companies are combining features like voice control with technologies like natural language processing (NIP) to make it easier to find channels and shows.
The 4K set-top box market is expected to project a notable CAGR of 5.2% in 2031.
Factors such as the growing emphasis on crystal-clear broadcast quality and the desire to fully utilize the capabilities of 4K TVs have contributed to the gradual entry of 4K set-top boxes into the niche economy class. Modern customers are expected to shift their preferences from standard and high definition (HD) STB consoles to 4K STB consoles as the need for high quality home entertainment increases.
Global 4K set-top box market: segments
Satellite Set Top Box Segment Expected to Grow with Highest CAGR in 2021-31
On the basis of product type, the global 4K set-top box market is fragmented into satellite set-top boxes, cable set-top boxes, hybrid set-top boxes, IPTV/OTT set-top boxes (internet protocol television/over-the-top) and others (DTT (Direct Terrestrial Transmission ), etc.). The satellite segment is growing as more and more people are looking for high quality shows and mechanisms to record shows to watch later. Television is one of the most important aspects of the setup box industry, and the ability of the setup box to record shows is driving the market growth. Viewers will be able to record it in real time and watch it afterwards.
Residential Segment Expected to Grow with Highest CAGR in 2021-31
The global 4K set-top box market is classified on the basis of application into commercial and residential. The occupant makes considerable use of the decoder and television. In 2017, the residential segment took the largest share of the market, with significant market value. The residential category is expected to outperform the commercial segment over the projection period. Moreover, as the population increases, the demand for 4K set-top boxes also increases, which impacts the growth of the segment.
The growing penetration of smart TV and the progress of the digital broadcasting industry
The growing popularity of smart TVs, along with rapid improvements in the digital broadcasting industry, are expected to drive the demand for set-top boxes worldwide. For a competitive edge in the industry, major companies have been forced to create OTT-based set-top boxes due to the growing popularity of internet-based entertainment and OTT platforms. The set-top box market demand is expected to be fueled by increasing urbanization, digitalization, and economic development in developing economies.
Increased demand for high definition video quality
As the popularity of social media platforms increases among consumers, so does the need for high definition video. The set-top box market is propelled by the low cost of TVs and budget internet set-top boxes. The market has been driven to include innovative features in set-top boxes due to the desire for video quality and the expansion of technology.
The multiplication of OTT Platforms and Easy Subscription to Services
The growing popularity of online streaming sites, along with the ease of subscribing to these services at low prices, is limiting the growth of the industry. The set-top box market is limited by OTT services that provide live streaming of entertainment and sports using modern technologies. Future market growth is hampered by video quality and price from over-the-top vendors. Major market players should pay close attention to market factors.
Global 4K Set-top Box Market: Key Players
Company overview, business strategy, key product offerings, financial performance, key performance indicators, risk analysis, recent development, regional presence, SWOT analysis
Huawei Technologies Co., Ltd.
Humax Co., Ltd.
DISH Network Corporation
Other top players
Global 4K Set-top Box Market: Regions
The global 4K set-top box market is segmented on the basis of regional analysis into five major regions: North America, Latin America, Europe, Asia-Pacific, Middle East and Africa. With the implementation of current technology, North America will have the largest market share. Due to fierce competition between regional internet service providers, the region is experiencing higher internet speeds. The increasing number of digitization projects has increased the demand for advanced decoders. Improvements in government policies aimed at assisting the media sector, along with an increase in the number of pay-TV subscribers in the region, are expected to propel the market forward during the projection period.
Impact of COVID-19 on the 4K Set Top Box Market
The unexpected shutdown of all economic operations around the world has had a significant impact on the entertainment industry, as it has prevented the airing of new episodes. The problem has prompted a large number of people in developing and developed countries to use OTT platforms to access new entertainment content and video on demand.
The global 4K set-top box market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, YOY Growth, CAGR – US & Canada
Latin America Market size, share, trends, opportunities, annual growth, CAGR – Mexico, Brazil and rest of Latin America
European Market Size, Share, Trends, Opportunities, YoY Growth, CAGR – UK, France, Germany, Italy, Russia & Rest of Europe
Asia-Pacific Market Size, Share, Trends, Opportunities, YoY Growth, CAGR – India, China, South Korea, Japan and Rest of Asia-Pacific
Middle East & Africa Market Size, Share, Trends, Opportunities, YoY Growth, CAGR – Saudi Arabia, UAE, South Africa & Rest of Middle East & Africa
The Global 4K Set-top Box Market Report Also Contains Analysis of:
4K STB Market Segments:
By product type
IPTV/OTT (Internet Protocol Television/Over-the-Top) set-top boxes
Others (TNT (Direct Terrestrial Transmission), etc.)
4K set-top box market dynamics
4K set-top box market size
Offer and demand
Competition and companies involved in the market
Market value chain
Market drivers and restraints
Scope and segmentation of the 4K Set Top Box Market report
Report attribute details
Market size value in 2021 USD 5.7 billion
2031 revenue forecast $9.4 billion
CAGR growth rate of 5.2% from 2021 to 2031
Base year for the estimate 2020
Quantitative Units Revenue in Million USD and CAGR from 2021 to 2031
Report Coverage Revenue Forecast, Business Ranking, Competitive Landscape, Growth Factors and Trends
Segments Covered Product Type, Application and Region
Regional scope North America, Europe, Asia-Pacific, Latin America, Middle East and Africa (MEA)
Major companies featured Technicolor SA, Roku, Inc., Infomir Group, Huawei Technologies Co., Ltd., Humax Co., Ltd., DISH Network Corporation, Tata Sky and other prominent players.
Read the full report: https://www.reportlinker.com/p06288827/?utm_source=GNW
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