Set-Top Boxes Market Set to Record Exponential Growth by 2022-end

Pace PLC, Cisco Systems. Inc., ARRIS Group, Inc., and Echostar Corporation are the leading providers of set-top boxes in the world today. In 2014, they held a collective share of 29.1% in the global set-top boxes market. Transparency Market Research, in a new report, states that these key players in the set-top boxes market are expected to change its competitive landscape in the coming years through a rapid rate of market consolidation. The market is currently in a highly fragmented state with regional players taking up close to three quarters of the market.

Most of the key players are also investing heavily in research and development to implement modern semiconductor technologies and software. Collaborations and alliances are also occurring at a rapid rate between paid TV operators and set-top box manufacturers.

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Global Broadcast Digitization to Benefit Set-top Box Manufacturers

"Set-top boxes are already known for providing more channels as well as HD channels over conventional cable TV service providers," states a TMR analyst. "These advantages area already creating a major set of advantages for set-top box makers. More concepts and innovations are in the works to try and further improve the stand that set-top boxes can hold in the global media market today."

One of the key drivers in this scenario for set-top box makers is the rapid rate at which TV viewing services are getting digitized. This is encouraging a large number of individuals to prefer set-top boxes over cable TV services.

OTT Competition Intensifies as Internet Quality Improves Globally

"However, cable service providers are not the real threat to set-top box companies," continues the TMR analyst. "At the moment, this market is pitted directly against over-the-top services available for the PC and mobile devices. Another serious competitor is the rapidly increasing group of cable card providers."

The online connectivity of users has been improving over the past few years, especially in emerging economies, to a level where users can watch almost whatever they want over the internet. This is seriously hampering the scope of growth for set-top box companies.

The best way for the latter to compete with OTT services is the proliferation of IPTV and hybrid set-top boxes.

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Cable Set-top Boxes Expected to Retain Lead in Demand

The global set-top boxes market revenue is expected to progress at a CAGR of 6.4% within a forecast period from 2015 to 2022. This market is expected to be valued at US$16.6 bn by the end of 2016 and US$24 bn by the end of 2022.

Cable set-top boxes are expected to remain the largest type in use till 2022, in which year the segment is expected to reach US$7.12 bn. Meanwhile, IPTV set-top boxes are expected to increase in popularity, showing the fastest growth rate in the market for the time being.

Asia Pacific is not only the largest regional consumer of set-top boxes in the world, but is also showing the fastest growth in demand. By the end of 2022, this region is expected to generate a revenue of US$9.72 bn through set-top boxes.

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