Market Introduction
A set-top box (STB), also referred to colloquially as a cable box, is an information system that typically includes a TV tuner input and shows the output of a TV set and an external signal source, converting the source signal into material in a format that can then be shown on a TV screen or other display device. They are found in, among other applications of, cable television, satellite television, and over-the-air television networks. A device that connects to your TV makes it possible for you to use a telephone line or cable to access the Internet and exchange electronic mail on your TV. The demand for set-top boxes in Europe is currently experiencing steady growth. A set-top box helps connect a TV to an external source of signal and transform analog and digital signals into visuals. It also helps receive—via an addressable device—unencrypted subscribed channels and display them as encrypted channels. Furthermore, it stores video, improves sound quality, and offers high-definition (HD) images. STB also supports telephony services for video conferencing, home networking, video-on-demand, and Internet protocol (IP). It is also used in various parts of Europe to receive digital television transmissions from cable, satellite, and over-the-air transmitters. One of the main factors driving the market is developments in digital broadcasting technology, in combination with growing internet and broadband penetration and increasing demand for on-demand video services and HD channels. In addition, rising demand for next-generation STBs is contributing to the growth of the broadcasting sector.
Furthermore, in case of COVID-19, Europe is highly affected specially the UK. Western European countries have seen a comparatively modest decrease in their growth activities because of the strong healthcare system. In order to protect its citizens from the virus, the European government has made tremendous investments in incorporating technologies in its healthcare systems to help identify signs of the virus. Due the sudden outbreak of the corona virus and lockdown across almost major countries in the Europe, the region has observed a rise in the TV viewing among the population. According to studies, the region has observed a rise in average time by 72 minutes in a day. For younger age groups, this increase is even greater, reversing the drop in TV consumption seen in recent years with 16-34-year-olds watching 45 percent more TV, and 85 minutes a day extra. It has also been observed that Including growth from Netflix and an increase in first-time users on YouTube, app use on Sky Q has increased by almost 70%. Thus, the rise in time spend in TV is expected to positively impact the set-top box market. However, owing to the outbreak of the virus, the manufacturing of the set-box across the region and its distribution is affected negatively. Thus, owing to the above-mentioned factors the set-top market is expected to be moderately affected over the forecast period.
Market Overview and Dynamics
The Europe set top box (STB) market is expected to grow from US$ 5,183.5 million in 2019 to US$ 6,100.7 million by 2027; it is estimated to grow at a CAGR of 2.2 % from 2020 to 2027. Combination of set top box with OTT platforms is expected to drive the Europe set top box (STB) market. 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 is 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. Thus, the integration of set-top box with OTT platforms to offer hybrid systems is emerging as a significant trend in the Europe set-top box market.
Key Market Segments
In terms of product, the cable segment accounted for the largest share of the Europe set top box (STB) market in 2019. In terms of content quality, the standard definition (SD) segment held a larger market share of the Europe set top box (STB) market in 2019.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the Europe set top box (STB) market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Advanced Digital Broadcast SA; Altech UEC; CommScope; COSHIP; Huawei Technologies Co., Ltd.; Humax; Kaonmedia Co., Ltd.; kyworth Group Co., Ltd.; Sagemcom; Technicolor SA.
Reasons to buy report
Europe Set Top Box (STB) Market Segmentation
Europe Set Top Box (STB) Market - By Product
Europe Set Top Box (STB) Market - By Content Quality
Europe Set Top Box (STB) Market - By Country
Europe Set Top Box (STB) Market - Company Profiles