NEW YORK, July 1, 2025 /PRNewswire/ -- According to a new comprehensive report from The Insight Partners, the Set Top Box Market is observing significant growth owing to growing demand for high-definition (HD) and ultra-high-definition (UHD) content and increasing adoption of smart TVs.
The report runs an in-depth analysis of market trends, key players, and future opportunities. In general, the Set Top Box Market comprises a vast array of product types and content quality, which are expected to register strength during the forecast period.
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Overview of Report Findings
- Market Growth: The Set Top Box Market was valued at US$ 25.33 billion in 2024 and is projected to reach US$ 31.08 billion by 2031; it is expected to register a CAGR of 3.1% during the forecast period.
- Demand for High-Definition (HD) and Ultra-High-Definition (UHD) Content: Consumers are increasingly seeking superior picture quality and more immersive viewing experiences. This influences service providers to upgrade their infrastructure to accommodate HD and 4K content delivery. This transition drives the need for advanced set-top boxes capable of decoding and streaming high-resolution formats. Furthermore, the increasing adoption of UHD televisions is further fueling the demand for compatible set-top boxes, ensuring smooth content delivery. This trend is boosting sales in both residential and commercial sectors. The UHD production across southeast Asia is growing. As of November 2024, Southeast Asia's broadcasting industry is undergoing a major transformation, marked by a sharp rise in demand for Ultra High Definition (UHD) content. This shift is fueled by viewers' growing preference for high-quality, cinematic viewing experiences. FOR-A is playing a leading role in this evolution by delivering cutting-edge solutions that address the industry's changing needs and expectations. Moreover, in May 2022, South Korea's SK Telecom (SKT) successfully delivered Ultra High Definition (UHD) broadcast content to viewers in Seoul through the deployment of its 5G network integrated with a multi-access edge computing (MEC) platform, demonstrating advanced capabilities in next-generation content delivery.
- Rising Demand for Over-the-Top (OTT) Streaming Services: Over-the-top (OTT) streaming has emerged as a major disruptor in the entertainment industry, fundamentally transforming global media consumption habits. According to the Dacast, in March 2025, the OTT industry continues to grow; 24.6 million US households have already disconnected their traditional TV service. This trend is projected to accelerate, with an estimated 49.6 million US households expected to make the switch by the end of 2025. Moreover, in December 2024, Gemius, a prominent provider of cross-media solutions, enhanced its research efforts in the German market through the launch of connected TV measurement. This advanced panel-based solution currently features YouTube streaming and is set to incorporate Netflix and other over-the-top (OTT) platforms in the near future.
- Technological Advancements: Advancements in set-top box technology include integrated streaming services, support for 4K and HDR content, improved performance through faster processors and expanded storage capacity, as well as the use of AI and machine learning to enable voice assistants and personalized content recommendations. Additionally, enhanced IoT connectivity and robust content security features are being incorporated to meet the evolving demands of consumers and industries.
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Market Segmentation
- Based on product type, the Set Top Box Market is segmented into IPTV, satellite, cable, and others. The IPTV segment dominated the market in 2024.
- Based on content quality, the Set Top Box Market is segmented into standard-definition (SD), high-definition, and 4K. The high-definition segment dominated the market in 2024.
Competitive Strategy and Development
- Key Players: A few major companies operating in the Set Top Box Market include Advanced Digital Broadcast SA, CommScope Holding Co Inc, Huawei Technologies Co Ltd, Humax Co Ltd, Kaonmedia Co., Ltd., SagemCom UK Ltd., Shenzhen Skyworth Digital Technology Co. Ltd, EchoStar Corporation (DISH Network L.L.C.), Vantiva, Shenzhen Coship Electronics Co Ltd, and Apple Inc.
- Trending Topics: Broadband Market, Home Broadband Wi-Fi Devices Market, Cable Television Networks Market, among others
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Global Headlines on Set Top Box Market
- Vantiva announced that it has sold 22 million set-top boxes (STBs) powered by Android TV to date, strengthening its 25% market share as of the end of 2023 according to the latest Omdia STB 3Q23 report.
- CommScope partnered with Telenor Sverige AB to provide to customers in Sweden with the VIP5702W set-top box powered by Android TV.
- EchoStar Corporation announced the completion of its acquisition of DISH Network Corporation.
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Conclusion
CommScope Holding Co. Inc, Huawei Technologies Co Ltd, Kaonmedia Co., Ltd., Sagemcom UK Ltd., and Shenzhen Skyworth Digital Technology Co. Ltd are key players in the set-top box market. These companies offer a diverse range of products, with a strong global presence that creates significant opportunities to reach a broad customer base and expand market share. They are also focused on advancing technology platforms to meet customer needs. In June 2022, CommScope Holding Co. Inc. entered into a partnership with Telenor Sverige AB, launching the VIP5702W set-top box powered by Android TV for consumers in Sweden. In addition, the demand for set-top boxes is fueled by the rising streaming services, increasing demand for HD/4K content, the growing trend of cord-cutting, bundled service offerings, and the burgeoning adoption of improved user experience features. Furthermore, the expansion of rural internet access and a growing preference for a wider range of content options are driving market growth.
The adoption of set-top boxes is growing across Europe, owing to increasing consumer demand for streaming services and growing broadband infrastructure, as well as the ongoing transition from traditional television to IPTV and OTT platforms. These solutions provide cost-effective smart TV functionality, access to region-specific content, and smooth integration with connected home devices. Moreover, several market players across the country are offering set-top boxes for home entertainment. For example, in May 2024, Orange France is transforming the home entertainment landscape in France with the launch of its newest set-top box, the STB 6, developed in collaboration with SoftAtHome. This innovative device introduces voice control capabilities, representing a major advancement toward more engaging and interactive user experiences.
The report from The Insight Partners, therefore, provides several stakeholders-including solution providers, system integrators, and end users -with valuable insights to successfully navigate this evolving market landscape and unlock new opportunities.
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