The global set-top box market is projected to grow by 7.5% a year over the next decade. Estimated to be worth over $22 billion in 2017, it is forecast to reach $46 billion in 2027. According to this forecast, the role of the set-top box is likely to remain central to the pay-television industry, whether it is through conventional cable and satellite or over telco or broadband networks.
Growth is expected in the Asia Pacific region, with disposable incomes rising in developing economies, especially in India and China. Production of set-top boxes by local companies is leading to increased competition with global set-top box manufacturers and putting pressure on prices.
The Asia Pacific region, excluding Japan, is the largest single market, estimated to be worth over $6.5 billion in 2017 and forecast to rise to nearly $10 billion in 2027.
The focus is increasingly on high definition video and high-quality user interfaces, with increasing interest in customised 4K Android set-top boxes.
The North America market is valued at around $5.75 billion in 2017, and forecast to reach nearly $10 billion in 2027, with increasing demand for 4K.
The market in the Asia Pacific region, including Japan, is worth about $8.5 billion in 2017. North America and Latin America are worth almost $7.5 billion. Western Europe is around $4.5 billion, with Eastern Europe approaching $1.5 billion and the Middle East and Africa at almost $2.5 billion.
The satellite set-top box segment is estimated to be worth $8.5 billion in 2017 and is forecast to rise by 8.1% a year over the next decade.
The annual market for over-the-top broadband boxes is estimated at just over $3 billion in 2017 and is forecast to grow to $3.4 billion in 2018, an annual growth rate of over 12%.
The numbers come from a market report from Future Market Insights. The report provides a market analysis by region and type of device, covering cable, satellite, telco and broadband boxes.
According to these forecasts, the market is assured, although whether we will still be calling them set-top boxes in ten years is another matter.
Set Top Box Market: Global Industry Analysis (2012 – 2016) and Opportunity Assessment (2017–2027) is published by Future Market Insights.