The global set-top box (STB) market is projected to be valued at about USD 22,269 million by the end of 2017 and will continue to grow at a CAGR of 7.5 percent during 2017–2027 to reach a market valuation of about USD 46,091 million by 2027.
The APEJ STB market is expected to witness a relatively high growth rate over the forecast period. Revenue from the STB market in APEJ and North America is estimated to collectively account for over 55.7 percent of the global STB market revenue in 2017. In North America, the increasing demand for 4K TV is expected to provide support to the growth of the STB market, according to the Future Market Insights. In the APEJ region, due to the increasing penetration of television in both rural and urban areas, the STB market is set to receive a huge boost.
The satellite STB segment is expected to register a CAGR of 8.1 by 2027. The OTT devices STB segment is estimated to touch a value of USD 3406 million in the year 2018, reflecting a year-on-year (y-o-y) growth rate of 12.2 percent. The HD STB segment is expected to touch a value of USD 18,532.1 million in the year 2018, reflecting a y-o-y growth rate of 9.7 percent.
In 2017, the APEJ STB market is estimated to be valued at USD 6652.4 million and is anticipated to reach about USD 16,703 million by the end of 2027. The market in APEJ is expected to represent incremental opportunity of USD 10,050.3 million between 2017 and 2027.