Insight Partners’ latest market analysis on “Set-Top Box Market Forecast to 2027 – COVID-19” has revealed that the global Set-Top box market size will increase from US$ 25 million by 2027 – an estimated growth of 3.0 per cent from what it was in 2020.
According to the report, some of the leading players operating in the set-top box market, according to the market analysis, include Advanced Digital Broadcast SA, Altech UEC, Arris International Limited, Coship (Shenzhen Cozhou Electronics Co.), Huawei Technologies Co, Humax Co, KaonMedia Co, Sagemcom, Skyworth and Zinwell Corporation.
According to Insight Partners, the increasing demand for high-definition (HD) picture quality is driving the growth of the Set-Top box markets across the world.
The set-top box market, by product, is segmented into cable, satellite, IPTV, and others.
Based on geography, the set-top box market size is mainly divided into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM).
To implement technologically advanced solutions across different sectors, including the broadcasting industry, rapid technological developments, digitisation of economies, and adequate government support contribute to the growth of economies from the developing stage to the developed stage.
Moreover, the data revealed that key players are launching smart remotes using gesture control for running STBs.