According to the report titled ‘Global Set-top box Market Size study, by Type(Cable, Satellite, IPTV, OTT(Over the top devices), Hybrid) by Recording( DVR, Non-DVR), by Sales Channel (Online, Offline), by Video Quality (Standard-Definition, High-definition), by End-use(Commercial, Residential)and Regional Forecasts 2021-2027’, available with Market Study Report, global set-top box market was valued at USD 22.6 billion in 2020 and is expected to record an annual growth rate of 3.2% during 2021-2027, thereby accumulating USD 28.18 billion by the end of the analysis timeframe.
 

Factors like growing popularity of OTT content, availability of television services across rural and urban areas, enhancement of electronics retail outlets, and evolution of e-commerce industry are boosting the growth of the global set-top box market.
 

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For the unversed, set-top box is a digital device which coverts and transmits digital signal to enable users to view & switch between channels. With advancements in technology, these devices are getting equipped with new & sophisticated features and content protection systems.
 

On the contrary, stringent government regulations to limit frequency bandwidth is negatively impacting the industry dynamics.
 

Based on type, the market is segmented into satellite, cable, IPTV, OTT, and hybrid. Notably, conventional cable providers have switched to selling hybrid set top boxes to their consumers owing to the inclusion of OTT IP and other features in these devices.
 

Moving on to recording, worldwide set-top box market is bifurcated into DVR, and non-DVR, whereas, the classification based on sales channel includes offline, and online. With respect to video quality, the industry is divided into standard-definition, and hi-definition, while by end use scope, the fragmentation includes commercial, and residential.
 

Speaking of geographical terrain, Europe, North America, Latin America, are Asia Pacific are the key regions considered to understand the industry dynamics. The Asia Pacific is likely to lead the market forecast during the projected timeline, owing to surging inclination for on-demand video services in Japan, China, and India. In fact, the Federation of India Chambers of Commerce & Industry has stated in its report that paid subscription revenue in India has doubled to USD 209.89 million since the launch of paid videos in 2018. Apart from that, language diversity in India leading to varied content consumption is also spurring the market expansion in the APAC region.
 

The prominent players in the global set-top box marketplace are Samsung Electronics Co. Ltd., CommScope Inc., Roku Inc., Dish Network Corporation, Technicolor SA, Mybox Technologies Pvt. Ltd., Huawei Technologies Co. Ltd., Broadcom Inc., Abox42 GmbH, and Advanced Digital Broadcast Holdings SA.