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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.
OTT Set Top Box Market is Thriving Worldwide | Arris International, HUMAX, CommScope
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Set-Top Box Market Size, Growth, Opportunity and Forecast 2020-2025 – KSU
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According to latest report
“Set-Top Box Market by Type (Cable, Satellite, IPTV/OTT, Hybrid), Recording (DVR, Non-DVR), Sales Channel (Online, Offline), End-Use (Commercial, Residential), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027”, by Global Market Insights, Inc., the
market valuation of set-top box will cross $21 billion by 2027. The market is anticipated to display high growth owing to the increasing penetration of digital TVs across the globe. The introduction of ultra HD and 4K set-top boxes for digital TVs is driving the market expansion.
The COVID-19 health crisis has significantly impacted the growth of the market during the first quarter of 2020. Government restrictions on movement during the first half of 2020 have resulted in a gradual reduction in set-top box sales, hampering the market value. However, with the economic revival, the industry will witness substantial growth by 2021.