Published Date : May 14, 2018
The global set-top boxes market has been evaluated in a report added by MarketResearchReports.biz to grow at a decent CAGR between 2015 and 2022. Titled “Set-Top Boxes Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2022,” the report foresees the market to gain impetus with the rise of largely digitalized set-top box services having highly interactive features. TV channel providers could assume a superior competitive role against internet-based over-the-top (OTT) providers with the advent of hybrid set-top boxes, which are a combination of satellite-based HD and internet-based TV services. The concept of hybrid set-top boxes is said to be in high demand in the current time.
Swelling demand from developing countries in the Middle East and Africa, Latin America, and Asia Pacific has been foretold to improve the growth of the world set-top boxes market. However, increasing competition from CableCARD providers and PC and mobile OTT services could slow down growth in the coming years. Nonetheless, there could be ample of rewarding prospects available in the market due to the launch of high efficiency video coding (HEVC) decoder in set-top boxes. According to the report, the market could be divided as per video quality and type.
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In terms of video quality, the world set-top boxes market has been segregated into high-definition (HD) and standard-definition (SD) set-top-boxes. With the release of a broad variety of HD channels and HD TVs, developed countries have witnessed a widespread presence of HD services so far. This could make it almost effortless for set-top box service providers to access growth opportunities in these regions. On the other hand, there has been a rapid increase in the demand for HD services in developing countries of the Middle East and Africa, Latin America, and Asia Pacific. Standardization of broadcasting services and the spread of HD services in these regions are expected to offer a wealth of lucrative prospects for vendors to rely on.
Set-top box companies could depend on improving purchasing power of consumers in Asia Pacific as a result of increasing industrialization rate. Users could stream videos on demand at choice prices due to the availability of improved internet services infrastructure because of the rise of the IT industry. The region could come out as a highly profit-making ground for companies due to its high-density population. Colossal end-user bases of India, China, and Australia could be another factor helping companies to increase growth in the near future. The region is predicted to show faster growth on the back of quick adoption of internet protocol television (IPTV) and smart TV and rising usage of improved internet services.
The international set-top boxes market includes leading players such as ARRIS Group, Inc., Cisco Systems. Inc., and Pace PLC.
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