APEJ region to see strong growth in global STB market
August 15, 2017
The global set-top box market is anticipated to witness a robust growth during the assessment period 2017 – 2027. A Future Market Insights report studies the factors driving the adoption of STBs across the globe.
According to Future Market Insights’ analysis, the APEJ (Asia/Pacific Excluding Japan) STB market is expected to witness a relatively high growth rate over the forecast period. Revenue from the STB market in APEJ and North America is estimated to collectively account for over 55.7 per cent of the global STB market revenue in 2017. In North America, the increasing demand for 4K TV is expected to provide support to the growth of the STB market. In the APEJ region, due to the increasing penetration of television in both rural and urban areas, the STB market is set to receive a huge boost. Besides, a growing middle class and increasing disposable income in the APEJ region is also set to impact market revenue growth positively.
Segmental forecast of the global STB market
The global STB market is segmented on the basis of product type (Cable STBs, Satellite STBs, IPTV Set-Top Boxes and OTT Devices) and by video quality (Standard-Definition STBs, HD STBs).
– In the year 2017, the satellite STB segment is estimated to be valued at $8,458.1 million and is expected to register a CAGR of 8.1 per cent during the forecast period.
– The OTT devices STB segment is estimated to be valued at $3,039.1 million in the year 2017 and is forecasted to touch a value of $3,406.0 million in the year 2018, reflecting a year-on-year growth rate of 12.2 per cent.
– In the year 2017, the SD set-top box segment is estimated to be valued at $5,377.8 million and is expected to register a CAGR of 5.1 per cent during the assessment period.
– The HD STB segment is estimated to be valued at $16,891.0 million in the year 2017 and is forecasted to touch a value of $18,532.1 million in the year 2018, reflecting a year-on-year growth rate of 9.7 per cent.
– In 2017, the North America STB market is estimated to be valued at $5,748.4 million and is projected to reach $9,942.0 million by the end of 2027. The market in North America is expected to represent incremental opportunity of $4193.6 million between 2017 and 2027.
– In 2017, the APEJ STB market is estimated to be valued at $6,652.4 million and is projected to reach about $16,703 million by the end of 2027. The market in APEJ is expected to represent incremental opportunity of $10,050.3 million between 2017 and 2027.
Global STB Market Forecast 2017-2027
Future Market Insights predicts the global STB market to be valued at about $ 22,269 Million by the end of 2017 and will continue to grow at a CAGR of 7.5 per cent during the period of study to reach a market valuation of about $ 46,091 Million by the end of the forecast period.