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. Increase in digital entertainment penetration among rural and urban populations across the region is one of the main factors influencing the market growth positively. Increased consumer knowledge of rapid technological developments and the comparison between quality, features, pricing, and benefits has been seen in the region, especially among the urban population. Regional development has been positively impacted by the emergence of major set-top box vendors in countries such as the US and Canada. In addition, in developing countries, rising prominence of global Over-the-top service providers—such as Netflix, and Amazon Prime Video—is expected to accelerate growth exponentially. Technical transformations in set-top box and strict government initiatives for mandating digitalization of cable TV are among the other major factors driving the growth of the North America set top box (STB) market.
Furthermore, in case of COVID-19, North America is highly affected specially the US. Favorable government policies to boost innovation and reinforce infrastructure capabilities, North America have the highest acceptance and development rate of emerging technologies. Any impact on industries is therefore projected to have a negative influence on the region's economic development. Millions of Americans sit at home in the midst of the COVID-19 crisis and turn to their TVs as a primary source of news, information and entertainment. Cable news network viewing rose by 73 percent versus the same week in 2019. This rise tends to be powered by viewing, with increases of 102 percent and nearly 82 percent compared to the same week in 2019. Thus, this has created a huge demand on the set-top box market across the region. However, owing the nation-wide lockdown across major economies such as United States and Canada in the North America the region, the manufacturing of the same has being negatively impacted. Moreover, the supply chain of the set-top box market has also been adversely affected from both local and international players. Thus, owing to the above-mentioned factors set-top market is said to be negatively affected owing to the outbreak of the corona virus across the region.
Market Overview and Dynamics
The North America set top box (STB) market is expected to grow from US$ 4,556.5 million in 2019 to US$ 5,112.1 million by 2027; it is estimated to grow at a CAGR of 1.6 % from 2020 to 2027. Growing penetration of HD channels and growing adoption of satellite cable and smart TVs is expected to upsurge the North America set top box (STB) market. 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 in the North America. HD set-top boxes are equipped with both HD channels and standard (SD) channels. 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 North America set-top box market in the coming years.
Key Market Segments
In terms of product, the cable segment accounted for the largest share of the North America set top box (STB) market in 2019. In terms of content quality, the high-definition (HD) segment held a larger market share of the North America 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 North America 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.; Sagemcom; Skyworth Group Co., Ltd.; Technicolor SA.
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North America Set Top Box (STB) Market Segmentation
North America Set Top Box (STB) Market - By Product
North America Set Top Box (STB) Market - By Content Quality
North America Set Top Box (STB) Market - By Country
North America Set Top Box (STB) Market - Company Profiles