4K Set-Top Box (STB) Market Study by Price, Revenue and Gross Margin Analysis by 2024

Posted on 2021-08-09 by researchinsights in Electronics // 0 Comments

San Jose, California , USA, Aug 09, 2021 — /EPR Network/ —

The 4K Set-Top Box (STB) Market report provides a detailed evaluation of the industry by highlighting information on different aspects which include drivers, restraints, growth opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing. It also provides a detailed analysis of global market size, regional and country-level market size, competitive landscape, impact of domestic market players and value chain optimization. Furthermore, it sheds light on the market contribution, recent developments and successful marketing strategies of leading companies.

Market Insights

Global 4K set-top box (STB) market is expected to reach USD 7.18 billion by 2024. The 4K set-top box (STB) is also termed as 4K set-top unit (STU). It is a device that takes TV viewing to an unimaginable level by giving an outstanding image clarity, photographic emulsion of smoothness, and greater texture. The 4K set-top box market is estimated to grow at a significant CAGR over the forecast period as the scope and its applications are rising enormously across the globe.

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Drivers

The factors that are playing a major role in the growth of 4K set top box (STB) market are rising consumers’ inclination toward ultra-high definition video, high demand for media-rich home entertainment services, governments’ initiatives toward digitization, and compulsory installation of set-top boxes program. However, the high cost of HD and SD STBs and lack of availability of high-speed broadband internet in emerging countries are the factors that may restrain overall market growth in the years to come.

4K Set-top Box (STB) Product Outlook (Volume, Thousand Units; Revenue, USD Billion, 2013 – 2024)

IPTV
Satellite
DTT
OTT
Hybrid

Top Players Analysis covered in these report

ZTE Corporation
Infomir LLC
Vestel Company
Roku Inc
Amazon
Arion Technology
EchoStar Corporation and many others

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Regional Outlook

Globally, Asia Pacific accounted for the substantial market share of 4K set-top box (STB) and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be rising demand from higher economic class, government initiative of digitization in the region, and decreasing the cost of STB devices and ultra HD televisions. The developing countries like India and China are the major consumers of 4K set-top box (STB) in this region. Also, the region is estimated to grow at the highest CAGR in this region.

North America is estimated to grow at the fastest pace in the years to come. The reason behind the overall market growth could be enhanced features offered to customers, the surge in IPTV devices, and the presence of high-speed network infrastructure. The United States and Canada are the major consumers of 4K set-top box (STB) in this region.

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