Global Set Top Box Market was valued US$ 20.53 Bn in 2018 and is expected to reach US$ XX Bn by 2026, at a CAGR of XX % during a forecast period.
Global Set Top Box Market
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Digitalization of television technology is a major driver for the set-top box market. An introduction of smart televisions along with high definition content is expected to drive the market growth of the set-top box market. The demand for high-quality content viewing at home is another factor , which is expected to boost growth of the global set-top box market. Additionally, The IP transmission recording features and developed storage specifications are also driving the market growth of global set-top box in the market.
Rise in adoption of digital terrestrial television broadcasting, BS digital broadcasting, and CATV broadcasting are expected increase the demand for Set Top Box. An increase in awareness pertaining to Internet-based STB devices like IPTV and OTT is expected to present substantial opportunities for the growth of global set top box market during the forecast period.
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In terms of application, global set-top box market was dominated by High Definition (HD) set-top box devices and is expected to replace the traditional Standard Definition (SD) devices.HD devices are projected to contribute XX % of the overall industry revenue share in 2026. High-quality sound output and HD transmission devices deliver high resolution of video content transmission.