Set-Top Box Global Market Report 2024

A set-top box is a hardware device designed to receive, decode, and display digital signals on a television screen. These signals, whether from television broadcasts or internet data, are typically transmitted via cable or telephone lines. The set-top box extends the range of available channels beyond the television's native channel numbering system, enabling users to select and view channels from a diverse array of signals that encompass data for various channels. Primarily, set-top boxes are employed for television sets to receive and decode digital television (DTV) broadcasts, and they also serve the purpose of converting analog television sets to be compatible with digital broadcasts.

The primary types of set-top boxes include cable, satellite, IPTV (OTT), and hybrid configurations. Cable set-top boxes are responsible for converting cable television channel transmissions into analog radio-frequency signals on a single VHF channel. Cable converter boxes play a crucial role in decoding signals, enabling the management of a large number of carrier-controlled and access-restricted channels. These set-top boxes support various resolutions, including high-definition (HD), standard definition (SD), and ultra-HD. Service types encompass pay-TV and free-to-air options. Set-top boxes find application in both residential and commercial properties and are distributed through online and offline channels.

The set-top box market research report is one of a series of new reports that provides set-top box market statistics, including set-top box industry global market size, regional shares, competitors with a set-top box market share, detailed set-top box market segments, set-top box market trends and opportunities, and any further data you may need to thrive in the set-top box industry. This set-top box market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The set-top box market size has grown strongly in recent years. It will grow from $27.25 billion in 2023 to $29.29 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%.
The growth observed in the historical period can be attributed to factors such as the widespread adoption of cable and satellite TV subscriptions, a rising demand for digital TV services, the transition to high-definition television (HDTV) and 4K content, the increasing popularity of on-demand and streaming content, technological advancements in set-top box features, the global expansion of the media and entertainment industry, and the overall growth of the consumer electronics sector.

The set-top box market size is expected to see strong growth in the next few years. It will grow to $40.92 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%.
The anticipated growth in the forecast period can be attributed to the trends of cord-cutting and the shift to Over-The-Top (OTT) services, the integration of 5G and Internet of Things (IoT) connectivity in set-top boxes, the development of interactive and voice-controlled set-top boxes (STBs), enhanced security measures and content protection, the incorporation of gaming and multimedia features, smart home integration with STBs, and the focus on sustainability and energy efficiency in STB designs. Prominent trends expected in the forecast period encompass the integration of AI assistants in set-top boxes, the implementation of edge computing and content caching in STBs, the adoption of modular and upgradable STB designs, the provision of cloud-based streaming and Digital Video Recorder (DVR) services, the availability of universal remote control apps for STBs, support for Ultra-High-Definition (UHD) and High Dynamic Range (HDR) content, and the utilization of biometric and facial recognition for personalized content experiences.

The anticipated growth of the set-top box market is driven by the increasing penetration of the internet and broadband services. The Internet, a global computer network, facilitates the transmission of diverse data and media across interconnected devices like TVs, mobiles, and laptops. This connectivity enhances the viewing experience of set-top boxes, ensuring high-quality video playback without buffering. According to the Canadian Internet Use Survey 2022 by Statistics Canada, internet usage among Canadians aged 15 and older rose from 92% in 2020 to 95% in 2022, with the most significant increase observed in individuals aged 75 and older, reaching 72% in 2022. Therefore, the expanding reach of the internet and broadband is a key factor propelling the set-top box market.

The set-top box market is expected to witness growth due to the increasing number of households worldwide. Households, defined as residential living units occupied by individuals or families, serve as spaces for shared living arrangements. Set-top boxes in households grant access to digital television channels, on-demand content, and streaming services, transforming conventional TVs into smart multimedia hubs. According to the United States Census Bureau, there were 131.2 million households in the US in 2022, marking a 1.53% increase from 2021. Additionally, Eurostat reported 198 million households in 2022, with an average of 2.2 members per household. The global surge in households is contributing to the growth of the set-top box market.

A notable trend in the set-top box market is the introduction of hybrid set-top boxes, gaining popularity among major industry players. Companies in this sector are focusing on developing unique and advanced products to cater to consumer demands. For example, in March 2022, GTPL Hathway launched the GTPL Genie, a hybrid Android set-top box based on Android TV version 9. Manufactured by SEI Robotics, the GTPL Genie features Widevine L1 support, VP9, H.264, and H.265 (HEVC) video codecs. It also includes built-in Chromecast and Google Assistant, along with subscriptions to 13 OTT apps. This innovation in hybrid set-top boxes is indicative of a trend gaining traction in the set-top box market.

Major companies operating in the set-top box market are placing increased emphasis on the development of innovative Android set-top boxes to gain a competitive edge. These multimedia devices run on the Android operating system, offering advanced features, apps, and content streaming capabilities for an enhanced home entertainment experience. For instance, in April 2021, SITI Networks launched the SITI PlayTop Android TV Set-Top Box, a certified 4K HDR STB. This Android TV-enabled device allows users to access the Google Play Store, download Android TV apps, and stream content from various OTT platforms, transforming any TV into a smart entertainment hub.

In August 2022, Telstra Group acquired a 51.4% controlling interest in Fetch TV for an undisclosed amount. This strategic move positions Fetch TV, an Australian provider of set-top boxes with a digital TV tuner, to offer a competitive home and entertainment solution in Australia with the capability to collaborate with global content and streaming providers.

Major companies operating in the set-top box market include ADB Technology Co. Ltd., Humax Co. Ltd., Sagemcom SAS, Samsung Electronics Co. Ltd., Technicolor SA, Huawei Technologies Co. Ltd., ARRIS International LLC, EchoStar Corporation, Aferian PLC, CommScope Holding Company Inc., KAONMEDIA Co. Ltd., Mybox Technology Co. Ltd., Shenzhen Coship Electronics Co. Ltd., Sercomm Corporation, SEI Robotics Co. Ltd., Skyworth Group Co. Ltd., Sumitomo Electric Industries Ltd., TechniSat Digital GmbH, DISH Network Corporation, Roku Inc., Apple Inc., Vishay Intertechnology Inc., Coship Electronics Co. Ltd., Broadcom Inc., Catvision Limited, Cisco Systems Inc., Comcast Corporation, Evolution Digital LLC, Gospell Digital Technology Co. Limited, Hisense Electric Co. Ltd., Intek Digital Technology Co. Ltd., Sichuan Jiuzhou Electric Group Co. Ltd., ZTE Corporation

Asia-Pacific was the largest region in the set top box market in 2023. The regions covered in the set-top box market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the set-top box market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The set-top box market consists of sales of HDTV tuners, directTV receivers, all-in-one receivers and cable HDTV receivers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.