Report : South 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 3.8% CAGR, the South America Set Top Box Market is speculated to be worth US$ 1,304.89 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the South America set top box market was valued at US$ 1,040.67 million in 2022 and is expected to reach US$ 1,304.89 million by 2028, registering an annual growth rate of 3.8% from 2022 to 2028. The increasing penetration of HD channels and growing adoption of satellite cable and integration of OTT platforms with set-top box are the critical factors attributed to the market expansion.
Satellite TVs are among most significant applications of set-top boxes. The implementation of show-recording facility that allows viewers to record their shows in real-time and view them later, depending on their convenience is one of the key developments brought in satellite TVs. Further, the high demand for high-definition (HD) picture quality is also influencing the growth of the set-top box market across the region. HD set-top boxes are equipped with both HD channels and standard (SD) channels. The majority of STBs continue to provide HD content as their middle-of-the-market offering, with the higher-end STBs shifting toward 4K and 8K programming while the lower-end STBs mainly offer SD. HD streaming is often available with SD in STB subscriptions, although at a little higher cost. Over a broad region, satellite technology continues to be crucial in the delivery of video information to end viewers. The 2022 Micro LED, Neo QLED, and Lifestyle TVs were unveiled by Samsung Electronics in 2022. Samsung's 2022 Smart TVs include a new Smart Hub that prioritizes content curation and discovery when it comes to users' viewing preferences. Thus, the launch of smart TVs and HD channels has led to a rise in digital TV watching, which, in turn, would fuel the growth of the set-top box market in the coming years.
On the contrary, escalating demand for OTT platforms hurdles the growth of South America set top box market.
- Based on product, the South America set top box market is segmented into cable, satellite, IPTV, and others. The cable segment held 58.2% market share in 2022, amassing US$ 605.99 million. It is projected to garner US$ 719.16 million by 2028 to expand at 2.9% CAGR during 2022–2028.
- Based on content quality, the South America set top box market is segmented into Standard Definition (SD), High-Definition (HD), and 4K. The Standard Definition (HD) segment held 63.0% market share in 2022, amassing US$ 655.96 million. It is projected to garner US$ 772.57 million by 2028 to expand at 2.8% CAGR during 2022–2028.
- Based on country, the South America set top box market is categorized into Brazil, Argentina, and the rest of South America. Our regional analysis states that Brazil captured 54.4% market share in 2022. It was assessed at US$ 566.21 million in 2022 and is likely to hit US$ 737.24 million by 2028, exhibiting a CAGR of 4.5% during the forecast period.
Key players dominating the South 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.
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