The global 4K Set-top Box (STB) market size is projected to
reach USD 7.18 billion by 2024, as per a new report by Grand View Research,
Inc. The growing inclination of the global public towards ultra-high definition
video viewing can be attributed as a major reason for the 4K STB market growth.
The demand for media-rich home entertainment
services among consumers is increasing and is anticipated to fuel market
growth. The growth is further fostered by favorable government initiatives,
large-scale digitization programs, and mandatory installation of set top boxes.
Improved standard of living owing to increased purchasing power is positively
impacting the industry growth.
The initiatives undertaken by the Federal
Communications Commission for supporting third party STB manufacturers is
paving the way for the expansion of the Ultra High-Definition (UHD) STB
industry. The market is anticipated to gain traction in Asia Pacific owing to
the strong presence of low-cost set top box manufacturers, especially in
countries such as Korea, Taiwan, and China.
The increasing penetration of 3D and 4K TVs
and escalating demand for large screen displays are fueling the demand for
Ultra High-Definition (UHD) STBs. Smart features such as STB operability
through voice commands given by Remote Control Unit (RCU) is garnering high
potential. The computational capabilities of STBs in combination with the
advent of quality standards to satiate growing customer expectations have
culminated in the STB market growth.
For full research report on 4K Set-top
Box (STB) Market visit here: https://www.grandviewresearch.com/industry-analysis/4k-set-top-box-market
Further key
findings from the report suggest:
- Internet Protocol Television (IPTV) 4K STBs
accounted for over 20% of the market share in 2015 and are expected to
witness considerable growth over the forecast period. Increasing broadband
penetration can be attributed as the major reason for the rise in the
market share of IPTV 4K Set-top Box devices. The IPTV set top box product
segment is projected to gain traction owing to benefits such as
integration of TV, PC, home phone, and wireless devices offering a high
quality of viewing experience to the end-users.
- The Asia Pacific 4K STB market was valued at
over just over USD 50 million in 2015 and is projected to witness high
growth over the next eight years. India is poised to emerge as a lucrative
market for UHD STBs with the country expected to witness a CAGR
substantially higher than the regional average. Several DTH operators such
as Tata Sky, Videocon, and Airtel have launched UHD STBs and are
attempting to achieve a higher rural penetration with affordable regional
packages.
- Key industry participants include ZTE
Corporation, SAGEMCOM, Arion Technology, Roku Inc., and Infomir LLC.
Manufacturers are emphasizing on UHD STBs incorporated with interactive 4K
content to gain a competitive edge in the industry.
- Technology giants such as Apple Inc. have
managed to make their mark in this competitive industry. The Apple TV
device aids the streaming of (Over-The-Top) OTT content and other videos
over the internet. The launch of advanced OTT devices such as Google
Inc.’s Chromecast media streaming device and Amazon’s Fire TV STBs have
opened up new avenues in the industry.
Get free request sample of this report
here : https://www.grandviewresearch.com/industry-analysis/4k-set-top-box-market/request/rs1
Grand
View Research has segmented the global 4K Set-top Box (STB) market on the basis
of product and region:
4K Set-top
Box (STB) Product Outlook (Volume, Thousand Units; Revenue, USD Billion, 2013 -
2024)
- IPTV
- Satellite
- DTT
- OTT
- Hybrid
4KSet Top Box
(STB) Regional Outlook (Volume, Thousand Units; Revenue, USD Billion, 2013 -
2024)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- Asia Pacific
- India
- China
- Japan
- Latin America
- Brazil
- Mexico
- MEA
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, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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