4K
set-top box (STB) Market study is providing you with the up-to-date,
actionable market information and projections with the latest impact of the
Covid 19 outbreak. It offers all the requisite data to support tactical
business decisions and come up with strategic growth plans. This study also
proposes a comprehensive insight into the development policies and plans in
addition to manufacturing processes and cost structures.
Global 4K
set-top box (STB) market is expected to reach USD 7.18 billion by 2024. The 4K
set-top box (STB) is also termed as 4K set-top unit (STU). It is a device that
takes TV viewing to an unimaginable level by giving an outstanding image
clarity, photographic emulsion of smoothness, and greater texture. The 4K
set-top box market is estimated to grow at a significant CAGR over the forecast
period as the scope and its applications are rising enormously across the
globe.
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The factors
that are playing a major role in the growth of 4K set top box (STB) market are
rising consumers’ inclination toward ultra-high definition video, high demand
for media-rich home entertainment services, governments’ initiatives toward
digitization, and compulsory installation of set-top boxes program. However,
the high cost of HD and SD STBs and lack of availability of high-speed
broadband internet in emerging countries are the factors that may restrain
overall market growth in the years to come.
The 4K set top
box market is segmented based on product type, technology, and region. Cable
STBs, hybrid STBs, IP STBs, Satellite STBs, and the other product types could
be explored in 4K set-top box (STB) in the forecast period. Satellite STBs
sector accounted for the substantial market share of 4K set-top box (STB) and
is estimated to lead the overall market in the years to come. Also, hybrid STBs
sector is estimated to grow at the fastest pace in the years to come.
Based on
technology, direct terrestrial transmission (DTT), over the top (OTT), internet
protocol television (IPTV), and others could classify 4K set-top box (STB) in
the forecast period. Internet protocol television (IPTV) sector accounted for
the substantial market share of 4K set-top box (STB) and is estimated to lead
the overall market in the years to come. The reason could be the growth in
broadband penetration.
Globally, Asia
Pacific accounted for the substantial market share of 4K set-top box (STB) and
is estimated to lead the overall market in the years to come. The reason behind
the overall market growth could be rising demand from higher economic class,
government initiative of digitization in the region, and decreasing the cost of
STB devices and ultra HD televisions. The developing countries like India and
China are the major consumers of 4K set-top box (STB) in this region. Also, the
region is estimated to grow at the highest CAGR in this region.
North America
is estimated to grow at the fastest pace in the years to come. The reason
behind the overall market growth could be enhanced features offered to
customers, the surge in IPTV devices, and the presence of high-speed network
infrastructure. The United States and Canada are the major consumers of 4K
set-top box (STB) in this region.
The key
players of 4K set-top box (STB) industry are ZTE Corporation, Infomir LLC.,
Vestel Company, Roku Inc., Technicolor SA, Sagemcom, Inspur Information Technology
Company, Amazon, Humax Consumer Electronics Company, Arion Technology, and
EchoStar Corporation. These players are concentrating on inorganic growth to
sustain themselves amidst fierce competition.
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