A 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 are used in cable television, satellite television, and over-the-air television systems, as well as other uses. It allows users to access to cable TV and satellite programming along with DVR and VoD capabilities. The market has seen increasing demand for high definition and ultra high definition content which require more advanced chipsets to process high bandwidth video and audio content.
The global STB Chipset market is estimated to be valued at US$ 30 Bn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The growing demand for high definition and ultra high definition content is one of the major drivers of the STB chipset market. Consumers are increasingly demanding better resolution and higher quality video and audio in television which requires more powerful and advanced STB chipsets that can deliver bandwidth intensive HD and UHD content. The need to process large volumes of data at faster speeds to deliver immersive entertainment experiences is driving chip manufacturers to innovate and develop more powerful chipsets. However, alternative platforms like smart TVs, streaming devices and mobiles taking share away from conventional cable and satellite STBs poses a challenge for the market.
SWOT Analysis
Strength: Set top box chipsets enable content delivery to television screens and enhance viewing experience. The integration of advanced features such as HDR, voice control in set top boxes has increased their demand. Manufacturers are focusing on developing energy efficient and cost effective chipset solutions to gain market share.
Weakness: High cost of upgrading existing set top boxes infrastructure poses a challenge for full adoption of newer technologies. Dependency on cable operators and broadcasters for content distribution is also a limiting factor for standalone set top box devices.
Opportunity: Growth of OTT media services and free-to-air channels has boosted the requirement of smart and hybrid set top boxes. The rising number of internet subscribers opting for streaming content on televisions presents an opportunity to deploy multi-screen video delivery platforms.
Threats: Alternative technologies for content viewing such as smart TVs with advanced search/playback abilities can erode the market for set top boxes over time. Lack of uniform technology standards also challenges large scale roll outs of different set top box platforms.
Key Takeaways
The Global Set Top Box Chipset Market Demand is expected to witness high growth.
Asia Pacific region dominates the global market owing to large customer base of pay TV users in countries like India, Japan and South Korea. Presence of leading set top box brands as well as proliferation of low-cost Android TV devices has made Asia Pacific fastest growing regional market for set top box chipsets.
Key players operating in the set top box chipset market include Broadcom, STMicroelectronics, ALi Corporation, Intel Corporation, NXP Semiconductors, Samsung, Renesas Electronics and Realtek Semiconductor. Broadcom led the set top box chipset market with over 20% revenue share in 2021 followed by STMicroelectronics. These players have been focused on launching advanced system on chip solutions to gain share in hybrid, android TV as well as IPTV set top box platforms.
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