Set-Top Box Market Report 2025

This Set-Top Box report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The set-top box market size has grown strongly in recent years. It will grow from $28.8 billion in 2024 to $30.73 billion in 2025 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to cable and satellite tv subscriptions, demand for digital tv services, transition to hdtv and 4k content, on-demand and streaming content, technological advancements in set-top box features, global expansion of media and entertainment, consumer electronics industry growth.

The set-top box market size is expected to see strong growth in the next few years. It will grow to $43.97 billion in 2029 at a compound annual growth rate (CAGR) of 9.4%. The growth in the forecast period can be attributed to cord-cutting and shift to ott (over-the-top) services, 5g and iot connectivity in set-top boxes, interactive and voice-controlled stbs, enhanced security and content protection, integration of gaming and multimedia features, smart home integration with stbs, sustainable and energy-efficient stbs. Major trends in the forecast period include set-top boxes with ai assistants, edge computing and content caching in stbs, modular and upgradable stb designs, cloud-based streaming and dvr services, universal remote control apps for stbs, ultra-high-definition (uhd) and hdr content support, biometric and facial recognition for personalized content.

The growth of the set-top box market is anticipated to be driven by the increasing penetration of internet and broadband services. The internet is a global computer network that facilitates the transmission of various data and media across interconnected devices such as TVs, mobile phones, and laptops. It enhances the viewing experience of set-top boxes and allows for high-quality video playback without buffering. For example, in 2023, the Government of Canada, a federal administration based in Canada, projected that by 2026, high-speed internet access would reach 98% of the population, with a goal of achieving full internet penetration nationwide by 2030. Additionally, according to the International Telecommunication Union (ITU), a Switzerland-based agency focused on information and communication technologies, global internet usage reached 5.1 billion people in 2022, which is 65% of the population. This figure rose to 5.4 billion by 2023, representing a 67% global internet penetration rate. Therefore, the increasing internet and broadband penetration is driving the growth of 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 in the set-top box market are concentrating on developing advanced streaming solutions, such as IPTV STBs, to improve content delivery and provide seamless access to a diverse array of entertainment options. An IPTV STB (Internet Protocol Television Set-Top Box) enables users to access a variety of on-demand video services and live TV channels, thereby enhancing home entertainment. For instance, in August 2024, Fastway, a New Zealand-based company specializing in reliable and cost-effective courier services for local and international deliveries, launched the Next Gen IPTV set-top box. The company announced that subscribers would have access to over 500 live TV channels, including 100 regional channels, as well as a Catch-Up TV feature that allows content access for up to seven days after a live broadcast. Additionally, the Video on Demand (VOD) service provides more than 10,000 movies. With the introduction of their next-gen IPTV STB, users will enjoy high-speed unlimited broadband, video, voice, and OTT services all on a single platform, thereby enhancing the overall consumer experience.

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 2024. 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.

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 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.

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