Digitization Trend to Define Next Phase of Growth in Global Set-Top Boxes Market, Demand for HD Set
Market Research, Set-Top Boxes Market
According to a new market report published by Transparency Market Research entitled “Set-Top Boxes Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 - 2022,” the global set-top boxes market is expected to reach a value of US$ 24.00 Bn by 2022. The market is estimated to grow at a CAGR of 6.4% during the forecast period from 2015 to 2022.
Browse the full Set-Top Boxes Market report at
Increase in the digitization switchover is boosting the adoption of digital broadcasting content among end-users. This, in turn, is driving the demand for set-top boxes among pay TV operators. Furthermore, the introduction of interactive services such as personal video recording, movies on demand, shopping, and games is expected to boost the adoption of the set-top boxes market in the coming years. Asia Pacific was the largest market for set-top boxes in the year 2014, accounting for a market share of around 31%. Asia Pacific is also expected to be the fastest-growing market for set-top boxes, at an estimated CAGR of 9.9% during the forecast period. Due to rapid digitization switchover and a large pay TV subscriber base, the set-top boxes market in Asia Pacific is expected to grow significantly during the coming years. North America is a mature market in terms of the adoption of set-top boxes due to early digitization switchover. The growth of the overall set-top boxes market in North America is expected to be driven by the adoption of IPTV and HBB set-top boxes during the coming years.
, Set-Top Boxes Market