DUBLIN, Nov. 21, 2023 /PRNewswire/ — The “4K Set-Top Box Global Market Report 2023″ has been added to ResearchAndMarkets.com’s offering.
The global 4K set-top box market is forecast to grow from $6.09 billion in 2022 to $6.43 billion in 2023 at a compound annual growth rate (CAGR) of 5.6%. The 4K set-top box market is expected to grow to $7.99 billion in 2027 at a CAGR of 5.6%.
Technological advancement is a key trend gaining popularity in the 4K set-top box market. Major companies operating in the market are focused on research and development for technologically advanced products to sustain their position in the market. For instance, in November 2020, ZTE Corporation, a China-based telecommunications company, unveiled the ZXV10 B866V6-H set-top box, a new-generation 4K Wi-Fi 6 set-top box. ZXV10 B866V6-H uses Wi-Fi 6 technology to provide a fast, stable, and low-latency network connection with 4K ultra-high-definition resolution, and it is powered by the Android TV operating system to provide superior smart TV operating system solutions that enable access to the vast ecosystem of video content.
In August 2022, Telstra Group Limited, an Australia-based telecommunication company acquired a majority stake (51.4%) in Fetch TV for an undisclosed amount. Through this acquisition, Telstra Group Limited aims to strengthen its portfolio in the home and entertainment segment. Fetch TV is an Australia-based IPTV provider that delivers a subscription television service over a user’s regular internet service.
The increasing demand for smart TVs is expected to propel the growth of the 4K set-top box market going forward. The 4K set-top boxes are commonly used in smart TVs to watch streaming services on demand with high resolution which enhances the television-watching experience. For instance, in May 2022, according to Comscore, a US-based cross-platform measurement company, the global viewing hours and total viewing households of smart TVs remain the fastest-growing types of connected TV devices with a total of 59% of connected TV households having smart TVs in February 2022, up 4% from February 2021 and 9% from February 2020. Therefore, the increasing demand for smart TVs is driving the growth of the 4K set-top box market.
The 4K set-top box market consists of sales of 4K set-top boxes with live television, digital video recorder (DVR) or time-shifted television, and video on demand (VOD) capabilities.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Report Scope
Markets Covered:
- By Type: Internet Protocol Television (IPTV); Digital Terrestrial Television (DTT); Over-The-Top set-top boxes (OTT); Satellite Television; Hybrid Television Set-top Box
- By Application: Residential; Commercial
- By Distribution Channel: Online; Offline
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Company Profiles:
- Roku
- Infomir Group
- Huawei Technologies
- Humax electricals
- DISH Network Corporation
- Tata Play
- ZTE
- EchoStar
- Apple
- Skyworth Group
- DIRECTV
- Inspur Group
- Broadcom
- Gospell Digital Technology Co. Ltd.
- Evolution Digital
For more information about this report visit https://www.researchandmarkets.com/r/8g0yno
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SOURCE Research and Markets
