The global Set Top Box (STB) Market is estimated to be valued at US$ 3829.99 Bn in 2023 and is expected to exhibit a CAGR of 6.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:-

Set top box (STB) is an information appliance device that generally contains a TV-tuner input and displays output to a television set and an external source of signal, turning the source signal into content in a form that can then be displayed on the television screen or other display device. STBs provide advantages such as access to several channels and content through single device.

Market key trends:-

One of the key trends in the STB chipset market is the transition towards smart and hybrid STBs. Hybrid and smart STBs offer added advantages such as access to Over-the-top (OTT) streaming content, apps, gaming and web browsing capabilities along with regular pay TV functionality. This transition is being driven by consumers demand for unified experience across various entertainment options. Moreover, several DTH and cable operators are focusing on development of hybrid STBs with the integration of broadband connectivity, to expand their service offerings.

SWOT Analysis:-

• Strength: STB chipsets offer upgraded video and audio capabilities for improved home entertainment experience. They enable support for multiple multimedia formats and streaming standards.
• Weakness: Frequent upgradation needed to support emerging video technology which increases costs. Higher power consumption compared to alternative devices.
• Opportunity: Growth of OTT subscriptions and cord cutting is expanding the STB market. Integration of AI and IoT features will open new growth avenues.
• Threats: Competition from other screen devices like smart TVs and emergence of substitute technologies like mobile casting. Declining pay TV subscriptions may negatively impact demand.

Key Takeaways:-

The Global Set Top Box (STB) Chipset Market Size was valued at US$ 3829.99 Bn in 2023 and is expected to reach over US$ 6300 Bn by 2030, expanding at a CAGR of 6.3% during the forecast period. The market is driven by the rising adoption of OTT services like Netflix, Amazon Prime Video among consumers, especially in developing countries.

Regionally, Asia Pacific dominated more than 35% of the overall STB chipset market in 2023 led by countries like China, India and Southeast Asia. High population, growing internet penetration and increasing digitalization are stimulating the demand of OTT services in the region.

Key players operating in the Set Top Box (STB) Chipset market are Amlogic, Inc., ALi Corporation, Marvell, Zhuhai Allwinner Technology Co., Ltd., Broadcom Inc., Socionext Inc., HiSilicon (Shanghai) Technologies Co., Ltd., Pixelworks Inc., Novatek Microelectronics Corp., Rafael Micro, STMicroelectronics, Renesas Electronics Corporation, Synaptics Incorporated, Qualcomm Technologies, Inc., Telechips Inc., Sony Corporation, MaxLinear Inc., MediaTek Inc., Silicon Laboratories, Availink, Inc., MStar Semiconductor Inc., SOLUM Co., Ltd., Hangzhou Nationalchip Science & Technology Co, Ltd., and AltoBeam Inc.

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