Forecast: STB market at $20bn by 2028
February 3, 2022
By Chris Forrester
Despite the proliferation of smart TVs, the market for STBs is still huge and a report from Global Market Insights (GMI) forecasts that STBs will expand again (after the pandemic saw reduced sales and installations) in many regions and the amrket will be worth $20 billion (€17.7bn) by 2028.
The pandemic also saw the much-reported shortage of silicon which impacted the supply of System-on-a-chip technology which has also hurt the supply chain.
“Europe’s set-top box market is growing credited to the increasing use of technology in the entertainment sector. The key players, such as Advanced Digital Broadcast, Amino Technologies, and Technicolor SA, are focusing on partnership to enhance their service offerings. For instance, in December 2020, RealVNC and Technicolor Connected Home announced a joint initiative to provide Network Service Providers (NSPs) and Android TV STBs & their comprehensive remote support for Android TV CPE customers. The connected TV solution from RealNVC allows NSP Customer Service Representatives (CSRs) and installation engineers to remotely view, control & diagnose the Android TV CPEs,” notes GMI’s report.