A set-top box (STB) is a device or software that enables viewing digital broadcast television
A set-top box (STB) is a device or software that enables viewing digital broadcast television through an ordinary television set. An STB chipset is the integral hardware component of an STB that allows decoding of digital broadcast signals and conversion into video and audio signals that can be played on a television set or other display device. The global STB chipset market is driven by factors such as the transition from analog to digital cable broadcasting, growing popularity of OTT platforms and increasing demand for enhanced content viewing experience.
The Global STB Chipset Market is estimated to be valued at US$ 4412.15 Bn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the STB chipset market are TapImmune (US);Merck (US);BrightPath Biotherapeutics (Japan);Sellas (US);BioLife Science (US);Boston Biomedical (US);VAXON Biotech (France);Lytix Biopharma (Norway);ISA Pharmaceuticals (Netherlands);Generex Biotechnology (Canada);OncoTherapy Science (Japan);Enzo Life Science (US);Antigen Express (US);Immatics Biotechnologies (US);Immune Design (US);Immunomedics (US);Galena Biopharma (US);Generex Biotechnology Corporation (Canada);and Ultimovacs (Norway).
The growing demand for enhanced content viewing experience and enabling value added services are fueling market growth. Technological innovations in Set Top Box (STB) Chipset Market Size such as integration of Wi-Fi and Bluetooth capabilities are further propelling the market.
Market trends
The STB chipset market is witnessing rising demand for 4K and 8K resolution support. Chipset manufacturers are focusing on developing chips that enable playback of ultra-high definition content to meet consumer demand for premium viewing experience. Secondly, there is increased adoption of Android TV enabled STBs driven by their interactive features and access to wide range of OTT applications and content.
Market Opportunities
Increasing popularity of IPTV and cloud-based services are expected to create significant opportunities in the STB chipset market. Secondly, integration of artificial intelligence capabilities into STB chips for enabling capabilities such as voice search and control is emerging as a key growth opportunity.
Impact of COVID-19 on Set Top Box (STB) Chipset Market Growth
The COVID-19 pandemic has impacted the growth of the Set Top Box (STB) chipset market in both negative and positive ways. In the initial stages of lockdowns announced by various governments, the demand for STBs declined sharply as consumers focused more on essential goods and avoided discretionary purchases. Production and supply chain disruptions also affected the market. However, as people stayed indoors for longer duration, the consumption of OTT platforms and pay-TV increased manifold. This boosted the demand for STBs to access such content on television sets. While production recovered gradually, the demand continued to surge which led to supply constraints.
The post-COVID scenario indicates promising growth opportunities. The pandemic accelerated the migration of viewers towards digital platforms which expanded the market scope for STBs globally. OTT platforms are increasingly investing in original content to engage audiences which will further fuel the need for STBs. It is also predicted that hybrid models combining broadcast TV and streaming will become popular necessitating the latest chipsets. To cater to rising demand, manufacturers are enhancing production capacities and developing more advanced chips with features like 4K/8K resolution support, integrated wireless connectivity, advanced security and GUI capabilities. Governments are also supporting local manufacturing of semiconductors which will aid the long term prospects.
North America currently holds the largest share of the global Set Top Box (STB) chipset market in terms of value owing to high digital media consumption and widespread availability of broadband internet. However, Asia Pacific is expected to witness the fastest growth during the forecast period attributed to growing middle class, increasing urbanization and rising FTTH penetration especially in China and India. Latin America and Middle East & Africa also present significant opportunities for STB chipset suppliers as pay-TV and fixed broadband subscription continue expanding in these regions.
The geographical region that offers immense growth opportunity for the Set Top Box (STB) chipset market is Asia Pacific. The large population, rising disposable incomes, improving living standards and the governments focus on digitization are driving the adoption of smart TVs, streaming devices and pay-DTH services in the region. In addition, countries like China, India, Japan, South Korea and South East Asian nations are prioritizing investments in 5G infrastructure and broadband which will accelerate the deployment of advanced STB technologies. Leading global as well as local manufacturers are also setting up production hubs in Asia Pacific to cater to the growing requirements.
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