Middle East & Africa Set Top Box Market
Middle East & Africa Set Top Box Market, Middle East & Africa Set Top Box Market Analysis, Middle East & Africa Set Top Box Market Size, Middle East & Africa Set Top Box Market GrowthMiddle East & Africa Set Top Box Research, Competitive Analysis, Busines

Published On: Oct 2022

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Middle East & Africa Set Top Box Market

At 4.2% CAGR, the Middle East & Africa Set Top Box Market is projected to be worth US$ 1,863.03 million by 2028, says Business Market Insights

According to Business Market Insights’ research, the Middle East & Africa set top box market was valued at US$ 1,451.81 million in 2022 and is expected to reach US$ 1,863.03 million by 2028, registering an annual growth rate of 4.2% from 2022 to 2028. The integration of OTT platforms with set-top box and increasing penetration of HD channels and technological transformations in set-top box are the critical factors attributed to the market expansion.

The growth of the market is mainly due to the growing need for next-generation STBs, which are integrated with internet-based services, television broadcasting and video on demand (VoD) which also allows sharing on other devices, such as multi-room television networks and portable media players. In the modern age, the media and entertainment sector are undergoing a paradigm change, largely due to the emergence of various technologies and convergence of digital technologies. With the incorporation of fresh features and content protection schemes, set top box architectures are becoming more sophisticated. From offering separate cable and satellite boxes to hybrid boxes integrated with IP-based OTT services, the set-top box marketplace is undergoing a technological transition. Furthermore, growing awareness regarding internet-based set-top boxes, such as Internet Protocol Television (IPTV) and OTT, has boosted product demand, more prominently in developing economies, wherein the number of tech-savvy people is increasing rapidly. As a result, conventional manufacturers of cable networks are focusing on the sales of specialized hybrid set-top boxes to their customers. Due to rising internet penetration and shifting regional content consumption habits, OTT and IPTV are gaining popularity. The integration of set-top box with OTT platforms to offer hybrid systems is emerging as a significant trend in the set-top box market.

On the contrary, escalating demand for OTT platforms hurdles the growth of Middle East & Africa set top box market.

Based on product, the Middle East & Africa set top box market is segmented into cable, satellite, IPTV, and others. The cable segment held 53.4% market share in 2022, amassing US$ 775.50 million. It is projected to garner US$ 949.64 million by 2028 to expand at 3.4% CAGR during 2022–2028.

Based on content quality, the Middle East & Africa set top box market is segmented into Standard Definition (SD), High-Definition (HD), and 4K. The Standard Definition (SD) segment held 53.2% market share in 2022, amassing US$ 772.73 million. It is projected to garner US$ 956.14 million by 2028 to expand at 3.6% CAGR during 2022–2028.

Based on country, the Middle East & Africa set top box market is categorized into the UAE, Saudi Arabia, South Africa, and the rest of Middle East & Africa. Our regional analysis states that the UAE captured 34.3% market share in 2022. It was assessed at US$ 498.48 million in 2022 and is likely to hit US$ 685.84 million by 2028, exhibiting a CAGR of 5.5% during the forecast period.

Key players dominating the Middle East & Africa set top box market are Advanced Digital Broadcast; Altech UEC; Commscope Inc.; Huawei Technologies Co., Ltd.; Humax Holdings; Kaonmedia Co., Ltd.; Sagemcom; Shenzhen Cozhou Electronics Co., Ltd (Coship); Skyworth Group Co., Ltd.; Technicolor SA; and Zinwell Corporation, among others.

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