The global set-top box market is anticipated to witness a robust growth between 2017 and 2027 according to analysis by Future Market Insights (FMI).
In the report, Set-top Box Market: Global Industry Analysis (2012 – 2016) and Opportunity Assessment (2017-2027), FMI forecasts that the set-top box market in Asia Pacific except Japan (APEJ) will witness a relatively high growth rate over the forecast period. Future Market Insights predicts the global set-top box market to be valued at about $ 22.269 billion by the end of 2017 and will continue to grow at a CAGR of 7.5% during the period of study to reach a market valuation of about $46.091 billion by the end of the forecast period.
Revenue from the set-top box market in APEJ and North America is calculated to collectively account for over 55.7% of the global set-top box market revenue in 2017. In North America, the increasing demand for 4KTV is expected to provide support to the growth of the set-top box market. The North America set-top box market is likely to be worth $5.748 billion at the end of 2017 and is projected to reach $ 9.942 billion by the end of 2027.
By contrast in the APEJ region, due to the increasing penetration of television in both rural and urban areas, the set-top box market is set to receive a huge boost. In addition, a growing middle class and increasing disposable income in the APEJ region is also set to impact market revenue growth positively. In 2017, the APEJ set-top box market is estimated to be valued at $6.652 billion and is projected to reach about $16.703 billion by the end of 2027. The market in APEJ is expected to represent incremental opportunity of $10.05 billion between 2017 and 2027.
Looking at individual platforms, the Set-top Box Market: Global Industry Analysis (2012 – 2016) and Opportunity Assessment (2017-2027) report found that satellite-based set-top box segment is estimated to be valued at $8.458 billion by the end of 2017, registering a CAGR of 8.1% during the forecast period. The OTT device set-top box segment is estimated to be valued at $3.039 billion in the year 2017 and is forecasted to touch a value of $3.406 billion in the year 2018, reflecting a year-on-year growth rate of 12.2%.
