Demand Increases On The Global Set-Top Box Market
The global market for set-top boxes is growing and the main markets are the North American and the APEJ. As one continues its growth thanks to the growth of the demand for 4K TVs and IPTV based services (North American), the other is growing thanks to multiple factors such as the greater penetration of television in the rural regions and the local production of set-top boxes (APEJ).
The most attractive market
According to the consulting services company, Future Marketing Insights, the global market for set-top boxes is estimated to be valued at $ 22,269 Mn, and is projected to reach $ 46,091 Mn by 2027 end. Being the North American market at, the value level, the most attractive in this ten-year review period (2017-2027).
The increased demand for 4K TVs, coupled with the increased demand for IPTV based services (about 12%), are creating a greater basis for the growth of the set-top boxes market. Highlighting the streaming devices that include IP transmission recording features and higher storage specifications.
The most promising market
The APEJ market is estimated to be the market for set-top boxes that will have the highest growth in the next ten years. Much thanks to the increased penetration of television and TV services in rural as well as urban areas.
The rising of the disposable incomes in India and China and the greater awareness about the features, quality and pricing of the set-top boxes, are also helping this market achieve greater growth and acceptability.
Another fact that is contributing to the growth of the Asia Pacific market is the production of set-top boxes by local companies. These emerging companies are creating greater price-level competitiveness in the market with global set-top box manufacturers.
At the global level the trend of buying 4K android custom set-top box and smart set-top boxes is growing. A trend that does not go unnoticed in the APEJ region, where users of set-top boxes are already more aware of this type of technology and already requiring it to the set-top boxes vendors.
The best move
Taking all these data and forecasts into account, it is easy to conclude that the market for set-top boxes is really growing and that it is now at a time of great euphoria. However, the bubble effect in digital markets still lingers in the memory and one should look at this growth with some care and attention.
One thing is certain, whatever the future of this market, the set-top boxes that will survive and that will succeed are those that best meet the expectations of the user, in terms of quality, price and service offer.
These demands, we can assure you, are those that unite an entire global market that is increasingly looking for streaming devices and for a superior definition of image and content.