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Stringent Government Initiatives for Mandating Digitalization of Cable TV to Escalate Global Set Top Box Market at a CAGR of 3.0%
Set Top Box Market to reach US$ 19,548.7 million in 2019 and is expected to grow at a CAGR of 3.0% during 2020-2027 to reach US$ 24,530.2 million by 2027.
Government regulations on mandating the installation of set top boxes (STBs), deployment of free OS-based devices by STB vendors, and analog switch-off transition in emerging countries are among the prime factors escalating the demand for STBs.
However, several drawbacks are associated with analogue systems; determining the number of households using cable services is difficult, and only local cable operators who also work as bill collection agents are aware of the actual figure. The broadcasters, first, transmit the signals via satellite.