Report : North America Set Top Box Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (Cable, Satellite, IPTV, and Others) and Content Quality [Standard Definition (SD), High-Definition (HD), and 4K]
At 2.0% CAGR, the North America Set Top Box Market is speculated to be worth US$ 5,242.89 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the North America set top box market was valued at US$ 4,667.97 million in 2022 and is expected to reach US$ 5,242.89 million by 2028, registering an annual growth rate of 2.0% from 2022 to 2028. The technological transformations in set-top box and stringent government initiatives for mandating digitalization of cable TV are the critical factors attributed to the market expansion.
Government regulations mandating the installation of set-top boxes, deployment of free OS-based devices by STB vendors, and analog switch-off transition in emerging countries are 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. The multi-system operators then download these signals into their devices. Multi-system providers are now transmitting these signals to local cable operators, and cable operators are eventually responsible for transferring these signals directly to consumers’ home via a variety of channels using co-axial cables. The inability of governments to monitor the exact number of home consumers using cable TVs is the most significant drawback faced by current analog signals, but, in this case, digitization enables them to know the exact amount of cable consumption. Thus, the stringent government regulations across emerging countries for digitalization are fueling the growth of the set-top box market.
On the contrary, escalating demand for OTT platforms hurdles the growth of North America set top box market.
Based on product, the North America set top box market is segmented into cable, satellite, IPTV, and others. The cable segment held 37.6% market share in 2022, amassing US$ 1,754.99 million. It is projected to garner US$ 1,895.94 million by 2028 to expand at 1.3% CAGR during 2022–2028.
Based on content quality, the North America set top box market is segmented into Standard Definition (SD), High-Definition (HD), and 4K. The High-Definition (HD) segment held 42.3% market share in 2022, amassing US$ 1,973.03 million. It is projected to garner US$ 2,232.26 million by 2028 to expand at 1.7% CAGR during 2022–2028.
Based on country, the North America set top box market is categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 67.9% market share in 2022. It was assessed at US$ 3,171.85 million in 2022 and is likely to hit US$ 3,457.19 million by 2028, exhibiting a CAGR of 1.4% during the forecast period.
Key players dominating the North America 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.
Contact Us
Contact Person: Sameer Joshi
Phone: +1- 646- 491- 9876
Email id: sam@businessmarketinsights.com