According to the latest report by IMARC Group, titled “Set-Top Box Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the market size reached US$ 17.6 Billion in 2018. A set-top box (STB) is a device that receives and decodes a television signal or Internet data and broadcasts it on a television screen or other display devices. The STB is widely used in cable, satellite, and over-the-air (OTA) television systems. Apart from offering the users a seamless TV viewing experience, it also enables them to record television programs and perform complex functions, such as home networking, video-on-demand, video conferencing and internet protocol (IP) telephony.
Browse full report with detailed TOC and list of figures and tables: https://www.imarcgroup.com/set-top-box-market
Global Set-Top Box Market Trends:
Digitization of televised networks, along with the reduced average selling prices (ASPs) of television sets, is one of the key factors driving the market growth. With improving living standards and inflating disposable income levels, TV sets are no longer a luxury product afforded only by a handful. This has consequently increased the sales of TV sets, which in turn has accelerated the demand for set-top boxes. Moreover, the rising adoption rates of smart televisions and Internet-based STB devices, along with a steadily growing demand for high-quality video streaming and interactive videos, are influencing the growth of the market. The rising trend of over the top (OTT) set-top box, advancements in digital broadcast technologies, and the implementation of governmental regulation promoting the shift from cable TV to set-top boxes in various countries, such as India, are some of the other factors driving the market further. On account of the aforementioned factors, the market is expected to reach a value of US$ 21.8 Billion by 2024, registering a CAGR of 3.6% during 2019-2024.
Browse related reports
Global Video Wall Market Report and Forecast 2019-2024: https://www.imarcgroup.com/video-wall-market
Global Streaming Media Devices Market Report and Forecast 2019-2024: https://www.imarcgroup.com/streaming-media-devices-market
Market Summary:
Get a PDF Sample for more detailed market insights: https://www.imarcgroup.com/set-top-box-market/requestsample
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Media ContactCompany Name: IMARC GroupContact Person: Richard LewisEmail: Send EmailPhone: 6317911145Address:309 2nd St City: BrooklynState: New YorkCountry: United StatesWebsite: www.imarcgroup.com