The two biggest advantages that set-top box manufacturerspossess against conventional cable services is the ability to provide a greater variety of channels and to broadcast HD and ultra-HD channels. In the near future, increasingly digitized set-top box services coupled with highly interactive features are expected to be added, increasing the appeal of set-top boxes to consumers. This will serve as a primary driver for all set-top box manufacturers across the globe.

Another concept currently in high demand is the hybrid set-top box, which is a combination of internet-based TV services and satellite-based HD services. The hybrid set-top boxes are expected to help TV channel providers assume a better competitive role against internet-based OTT providers.

Combining all the above drivers, along with other influential factors such as the restraint due to OTT service providers and the opportunities that HEVC decoders can provide to set-top boxes, its global market is expected to progress at a CAGR of 6.4% from 2015 to 2022. This market is expected to be valued at US$16.6 bn in 2016 and US$24 bn by 2022.

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IT and Industrial Growth in APAC Allows Better Scope for Set-top Box Companies

The rapid rates of industrialization in most Asia Pacific countries is allowing users to possess stronger purchasing capabilities, providing a wide array of regional opportunities for set-top box companies to grow. Additionally, the growth of the IT industry is helping create a better internet services infrastructure which can allow users to stream videos on demand at affordable prices. Coupled with the high population density, Asia Pacific can be a highly lucrative avenues for set-top box players in the near future.

Australia, China, and India already hold a massive base of internet users. The growing use of improved internet services along with the proliferation of smart TVs and IPTVs in this region will allow Asia Pacific to show the fastest growth rate in set-top box demand in the near future.v