Grand View Research: 4K STB market worth $3.65b by 2024

Staff writer
Future TV Asia

The global 4K Set Top Box market is expected to reach $3.65 billion by 2024, according to a new report by Grand View Research.

Content providers have begun offering sharper video content via 4K. Large scale penetration of smart TVs has proven instrumental in escalating demand, and industry vendors now provide set top boxes with enhanced broadcast capabilities using Digital Video Broadcasting-Satellite (DVB-S/DVB-S2) standards.

Apple TV and the introduction of advanced OTT devices such as Fire TV from Amazon and Chromecast from Google have opened up major growth avenues in the industry.

Increasing number of UHD content providers is expected to propel industry growth but high upgrade costs and subscription fees for 4K content will challenge the industry growth over the forecast period.

Further key findings from the report:

  • IPTV UHD set top boxes contributed to over 20% of market revenue in 2014. IPTV focuses on network scalability, end-user applications, and infrastructure. With IPTV, content is provided through an internet service provider's own infrastructure, ensuring UHD content streaming across subscribed devices.
  • Hybrid set top box devices are expected to witness a CAGR of over 5% throughout the forecast period. They enable smart TV programming and help viewers to access multiple TV delivery methods including cable, terrestrial, satellite and the internet. In addition, they include services such as VOD, Internet applications, and gaming applications.
  • The Asia Pacific 4K STB market accounted for over 25% of the global revenue share in 2014. China and India present considerable opportunities for regional industry growth due to the strong presence of UHD STB manufacturers. OTT-based streaming devices are becoming the STB of choice for satellite TV providers in these emerging markets.
  • Vendors are increasingly offering energyefficient STB devices -- especially in idle mode. Manufacturers and service providers across the globe are increasingly providing advanced UHD STBs equipped with features such as interactive 4K content to be competitive.
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