4K Set-Top Box Global Market Report 2024

The 4k set-top box market size has grown strongly in recent years. It will grow from $6.32 billion in 2023 to $6.71 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth observed in the historical period can be attributed to several factors, including content providers embracing 4K technology, the increased availability of 4K content, the transition to digital broadcasting, consumer demand for an enhanced viewing experience, and the integration of 4K capabilities into smart TVs. These trends collectively contributed to the expansion of the 4K set-top box market during the historic period.

The 4k set-top box market size is expected to see strong growth in the next few years. It will grow to $8.75 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The anticipated growth in the forecast period can be attributed to various factors, including continuous enhancements in set-top box technology, price reductions making them more accessible to a wider audience, integration with smart home systems, expansion of content providers, and the integration of gaming and virtual reality (VR) capabilities. Significant trends expected in the forecast period encompass content aggregation and personalization, improvements in connectivity and streaming quality, deeper integration with smart home ecosystems, the convergence of gaming and entertainment features, and the proliferation of streaming services and over-the-top (OTT) platforms.

The escalating demand for smart TVs is anticipated to serve as a significant driver for the growth of the 4K set-top box market in the foreseeable future. Smart televisions, offering interactive features akin to those found in internet or web services, are equipped with set-top boxes or operating systems that enable functionalities such as video searching or diverse interactions with the TV. In this landscape, 4K set-top boxes, commonly integrated into smart TVs, facilitate the viewing of high-resolution streaming services, thereby enhancing the overall television-watching experience. An illustration of this trend was evident in May 2022, as reported by Comscore, a US-based cross-platform measurement company, where smart TVs emerged as the fastest-growing category of connected TV devices globally. Statistics showed that by February 2022, smart TVs accounted for 59% of connected TV households, marking a 4% increase from the preceding year. Thus, the escalating demand for smart TVs acts as a primary impetus for the growth of the 4K set-top box market.

The expansion of broadband networks is forecasted to significantly drive the growth trajectory of the 4K set-top-box market in the coming years. Broadband networks, characterized by high-capacity and wide-bandwidth communication capabilities, play a crucial role in enabling the simultaneous transmission of various signals, data types, or channels across a shared medium. This expansion paves the way for widespread adoption and success of 4K set-top boxes by ensuring robust and high-speed internet access essential for streaming, downloading, and enjoying 4K content. As per a July 2023 report published by the Organization for Economic Co-operation and Development (OECD), data usage per mobile broadband subscription witnessed a 17% increase in OECD countries during 2022. Moreover, fiber, as a fixed broadband connection technology, consolidated its dominance, constituting 38% of all fixed subscriptions by the close of 2022. The surge in fixed broadband subscriptions, totaling 481.6 million by December 2022, averaging 35 subscriptions per 100 inhabitants across nearly all OECD nations, underscores the pivotal role of broadband network expansion in driving the 4K set-top-box market.

Key players in the 4K set-top box market are actively engaged in developing innovative products, such as mesh networks tailored for internet streaming, aimed at catering to larger customer bases, bolstering sales, and augmenting revenue streams. Mesh networks typically exhibit a network topology wherein each device collaboratively relays data for the entire network. In September 2022, ZTE Corporation, a China-based technology company, in collaboration with Amlogic, a US-based semiconductor company, introduced a revolutionary 4K Wi-Fi 6 mesh media gateway set-top box (STB). This innovative home media terminal represents a convergence of technology, seamlessly amalgamating the functions of a gateway, router, and set-top box (STB). Beyond reducing maintenance costs for operators, it ensures comprehensive Wi-Fi coverage throughout homes, offering users an enriched experience while enjoying HD videos. Distinguished by Amlogic's high-performance chipset based on the quad-core ARM Cortex-A55 architecture, this ZTE STB harnesses the power of the latest Android TV operating system, providing access to a wide array of applications and abundant media resources, enabling users to immerse themselves fully in the realm of home entertainment.

Leading enterprises within the 4K set-top box market are actively engaged in developing innovative products such as Android-based set-top boxes aimed at expanding their customer base, boosting sales, and augmenting revenue streams. An Android set-top box, functioning as a multimedia device, operates on the Android operating system and is specifically designed for integration with televisions. A case in point is the September 2022 launch by Fastway Transmission Pvt Ltd., a China-based technology company, in collaboration with Amlogic, a US-based broadcast media enterprise, of the Hybrid and OTT Set Top Box FW + Ultra 4K STB (set-top box). This set-top box arrives preloaded with an inclusive plan, offering users affordable access to UHD (Ultra High Definition) content. Beyond seamlessly amalgamating linear TV with HDR-quality play services, this hybrid cable box introduces a host of user-friendly features. The Fastway STB facilitates instant access to Prime Video, YouTube, and Google Play through dedicated links, easily navigable with a single click using a remote control. Distinguishing itself with advanced capabilities encompassing Dolby Vision, Dolby Audio, HDMI 2.1, Dual Band connectivity, Bluetooth, USB 3.0, Micro SDXC, and an in-built Chromecast, this STB sets a benchmark with its comprehensive and state-of-the-art features.

In August 2022, Telstra Group Limited, an Australia-based telecommunications conglomerate, concluded the acquisition of a majority stake (51.4%) in Fetch TV for an undisclosed sum. This strategic acquisition aims to fortify Telstra Group Limited's foothold within the home and entertainment segment. Fetch TV, an Australia-based IPTV (Internet Protocol Television) provider, offers a subscription television service delivered over a user's standard internet service. This move positions Telstra Group Limited to capitalize on Fetch TV's expertise in the IPTV domain, further enhancing its offerings and expanding its influence within the home entertainment market.

Major companies operating in the 4k set-top box market report are Roku Inc., Infomir Group, Huawei Technologies Co. Ltd., Humax electricals Pvt. Ltd., DISH Network Corporation, Tata Play Limited, Zhongxing Telecommunication Equipment Corporation., EchoStar Corporation, Apple Inc., Skyworth Group Co. Ltd., AT&T Inc., Inspur Group, Broadcom Inc., Gospell Digital Technology Co. Ltd., Evolution Digital LLC, Amazon.com Inc., Arion Technology Ltd., Kaonmedia Co. Ltd., Technicolor SA, Airtel, Sagemcom, MaxLinear Inc., TechniSat Digital GmbH, Samsung Electronics Co. Ltd., LG Electronics Inc., Cisco Systems Inc., Pace plc, Arris Group Inc., Motorola Mobility LLC, Netgem, ABOX42 GmbH, Amino Communications.

North America was the largest region in the 4K set-top box market in 2023. Asia-Pacific is expected to be the fastest-growing region in the 4K set-top box market during the forecast period. The regions covered in the 4k set-top box market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the 4k set-top box market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary types of 4K set-top boxes include Internet Protocol Television (IPTV), Digital Terrestrial Television (DTT), Over-the-Top Set-Top Boxes (OTT), Satellite Television, and Hybrid Television Set-Top Boxes. IPTV involves the delivery of television programming and multimedia content over the internet using TCP/IP, replacing traditional broadcast, cable, or satellite signals. These set-top boxes find applications in various contexts, including residential and commercial settings. Distribution channels for these devices include both online and offline channels.

The 4k set-top box market research report is one of a series of new reports that provides 4k set-top box market statistics, including 4k set-top box industry global market size, regional shares, competitors with a 4k set-top box market share, detailed 4k set-top box market segments, market trends and opportunities, and any further data you may need to thrive in the 4k set-top box industry. This 4k 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 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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