The global in-built set-top boxes market sales will likely surpass 179 million units by 2020, according to the latest market research report by Technavio.
The market size has been calculated based on the revenue generated from unit sales of STBs equipped with digital video recording (DVR) technology.
“The market is expected to reach close to 53.51 million units in sales by 2020, growing at a CAGR of 12.56%,” said Soumya Mutsuddi, one of Technavio’s lead industry analysts for consumer electronics.
“To tap the growing market, vendors are introducing innovative services, including on-demand, push-VoD, and specialized Internet services for increasing the ARPU.
APAC is the largest market for STBs, and it accounts for more than 50% of the total global TV shipments. Technavio researchers estimate that, as of 2015, 73.38 million units of inbuilt storage STBs were shipped in the region.
The market has grown significantly, as many countries like China and India have mandated digitization of TVs. China achieved 100% digitization in 2015, and similarly India is also anticipated to achieve the same by the end of 2016.
Although the penetration of HD STBs is slow in this region, rapid digitization will continue to propel market growth.
China emerged as the largest market in the region, and its support for HD terrestrial broadcasts was relatively higher in 2015, which indicates growth for digital terrestrial television (DTT) and other platforms over the forecast period.