Americas Set Top Box Market Growth Drivers and Forecast by 2030

The Americas set top box market size was valued at US$ 7,456.75 million in 2022 and is expected to reach US$ 8,857.09 million by 2030; it is estimated to record a CAGR of 2.3% from 2023 to 2030.

Analyst Perspective:

Interactive features such as video-on-demand and electronic program guides are increasingly being incorporated in satellite STB units. In addition to basic features, the set-top box units provide a range of interactive and multimedia facilities directly via a consumer television device, such as internet browsing, email, and instant messaging. The DVR feature is also included in cable and satellite set-top boxes, enabling viewers to enjoy the content at their convenience. Using MPEG-4.10 (H.264) and SMPTE 421 M (VC-1) allows access to more media content and decreases the risk of early product obsolescence. Thus, technological advancements are contributing to the Americas set top box market growth.

Market Overview:

A set-top box (STB), also referred to colloquially as a cable box, is an information system that typically includes a TV tuner input and shows the output of a TV set and an external signal source, converting the source signal into material in a format that can then be shown on a TV screen or other display device.

The key factor driving the Americas set top box market growth is the rising technological transformations in set-top box (STB). Technological developments have led to a wide range of STBs equipped with various features. This, in turn, has made the competition fierce between the set-top box companies. Digital video recording is one of the most anticipated functions since it enables viewers to view and archive their favorite shows. An over-the-air DVR system is a standalone set-top box that enables viewers to transmit and record TV programs. In addition to DVRs, subscription-based TV service providers offer STBs to customers. In addition, DISH, a US-based television provider, has incorporated artificial intelligence in its new set-top boxes to allow recording facilities at STBs. With the support of technology such as natural language processing (NLP), companies implement features such as voice command to enable channels and TV shows to be searched using technologically advanced Americas set top box market.

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Market Driver:

Technological Advancements in Americas Set Top Box Market

Technological advancements have led to the introduction of various features in set-top boxes, such as fast processors, increased storage capacity, improved interface, voice control and support, and Internet of Things (IoT) integration. The technological development in the Americas set top box market prompted the market players to compete at distinct scales. Digital video recording is the most desired functionality of set-top boxes, allowing audiences to record their favorite shows and watch them later at their convenience. A standalone set-top box that allows viewers to transmit and record TV programs is an over-the-air digital video recorder (DVR) system. Apart from DVRs, subscription-based TV service providers also sell STBs to consumers. For instance, in 2021, Apple Inc launched Apple TV set-top box with an integrated homepod speaker and video conferencing camera through a connected TV and smart home functions. Companies are integrating features such as voice command with the help of technologies such as natural language processing (NLP) to simplify searching channels and shows. For instance, in 2019, ZTE Corporation launched a far-field 4K AI STB S200 set-top box (STB) that can work with voice commands. STB S200 features noise reduction and a built-in far-field voice search engine, along with the integration of IPTV/OTT services, smart speakers, and Google ecosystem support.

Segmental Analysis:

Based on product type, the Americas set top box market size is segmented into cable, satellite & internet-based, and DTT. The satellite & internet-based segment held the largest share of the market in 2022. Cable TV requires a cable box with a subscription. In today’s digital service, the cable box decodes MPEG video frames, decrypts the premium channels, and stores and displays the program guides. Digital cable boxes also provide upstream communications for video-on-demand. They often have a built-in DVR for content recording on a hard drive. Many cable TV companies offer users internet service, but their set-top boxes are only for TV. The cable is split into two lines, one to the cable modem for internet access and the other to the Americas set top box market growth.

Country Analysis:

The Americas set top box market size is expected to grow from US$ 7,456.75 million in 2022 and is expected to reach US$ 8,857.09 million by 2030; it is expected to grow at a CAGR of 2.3% during the forecast period. The rising number of television subscribers across the US is driving the demand for entertainment streaming devices across the country. Moreover, the demand for IPTV services is growing. The US reports the trend of cord-cutting and customer shift toward OTT media streaming platforms, thus, prompting operators to invest in the next-generation set-top boxes to sustain competency. In 2021, CommScope Holding Co Inc developed a 4K UHD set-top box in partnership with Orange Belgium. This set-top box offers live TV and streaming services, improved OTT streaming, and on-demand and broadcast TV services. These factors boost the demand for Americas set top box market growth.

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Key Player Analysis:

The Americas set top box market share analysis consists of players such as Advanced Digital Broadcast SA, CommScope Holding Co Inc, Huawei Technologies Co Ltd, Humax Co Ltd, Kaonmedia Co Ltd, SagemCom UK Ltd, Shenzhen Skyworth Digital Technology Co Ltd, Technicolor SA, Shenzhen Coship Electronics Co Ltd, and Apple Inc., owing to the diversified product portfolio offered.

Recent Developments:

Inorganic and organic strategies such as mergers and acquisitions are highly adopted by companies operating in the Americas Set Top Box market. A few recent key market developments are listed below: 

• In 2020, Humax Co Ltd announced the world's most advanced Android TV device platform.
• In 2020, Skyworth Digital Technology Co Ltd. and Amlogic launched RDK video accelerator set-top box.
• In 2020, Telekom Malaysia selected Skyworth Digital Technology Co Ltd. as the 4K Android T.V. Operator Tier partner.
• Skyworth Digital Technology Co Ltd. and 3SS partnered to create a Netflix-ready platform that helped operators fast-track world-class Android TV launches.

Americas Set Top Box Report Scope