The Set Top Box (STB) Chipset Market will grow at highest pace owing to rising demand for HD channel

Author : Nishant Sherkhane | Published On : 30 Apr 2024

The set top box chipset market comprises integrated circuits and chipsets designed to receive broadcasted cable/satellite signals and decode them for viewing on television displays. Set-top boxes are necessary to receive encrypted or restricted television channel broadcasts and additional functionality allows recording over-the-air broadcasts or watching movies on Video-on-Demand (VoD). Rapid adoption of high-definition channels and increasing consumption of over-the-top media services is driving demand for improved STB chipsets with higher computing power and memory.

The Global Set Top Box (STB) Chipset Market is estimated to be valued at US$ 4412.15 Bn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024 To 2031.

Key Takeaways

Key players operating in the Set Top Box (STB) Chipset Market Size are TapImmune (US);Merck (US);BrightPath Biotherapeutics (Japan);Sellas (US);BioLife Science (US);Boston Biomedical (US);VAXON Biotech (France);Lytix Biopharma (Norway);ISA Pharmaceuticals (Netherlands);Generex Biotechnology (Canada);OncoTherapy Science (Japan);Enzo Life Science (US);Antigen Express (US);Immatics Biotechnologies (US);Immune Design (US);Immunomedics (US);Galena Biopharma (US);Generex Biotechnology Corporation (Canada);and Ultimovacs (Norway). Demand for advanced multimedia capabilities and growing popularity of over-the-top service platforms are propelling requirement for more powerful set-top box chipsets. Latest chipsets integrate advanced processors, graphics handling units and increased memory capacity to enable functions like 4K video playback, multi-camera digital video recording and personalized content recommendations. Technological upgrades in broadcast standards from HDTV to Ultra HD, broadband network speeds and emergence of smart TV platforms have prompted innovations in STB chipsets to enhance viewer experience.

Market Trends

Growing adoption of smart home devices integrated with IPTV infrastructure is opening new opportunities for STB chipset manufacturers. Voice assistance enabled set-top boxes allow viewers to search content through voice commands. Integration of smart home technologies through STB chipsets promotes a interconnected entertainment experience. Another key trend is multi-screen viewing experience supported by STB chipsets. Advanced chipsets allow seamless content sharing across multiple consumer electronic devices including smartphones, tablets and laptops. This improves content accessibility and satisfies changing consumer preferences for personalized viewing anywhere.

Market Opportunities

Rising trends towards connected home devices and voice assistance presents an opportunity for STB chipset makers to introduce solutions with advanced voice recognition and AI capabilities. Developing chipsets tailored for 5G enabled smart TVs also represents a growth prospect with increasing 5G network rollouts. Growing preference for cloud gaming platforms among millennial audiences leaves scope for integrating low-latency mobile gaming features in advanced STB chipsets. STB manufacturers can further capitalize on opportunities arising from Hybrid TV solutions combining broadcast and broadband technologies into a single system on a chip platform.

Impact of COVID-19 on Set Top Box (STB) Chipset Market Growth

The outbreak of COVID-19 has impacted the growth of Set Top Box (STB) Chipset market. During the initial phases of lockdown, the sale of Set Top Boxes reduced drastically due to closure of brick and mortar stores as well as supply chain disruptions. With people confined to their homes due to lockdowns and movement restrictions imposed by various governments, the demand for entertainment services like cable TV and OTT platforms increased substantially. This trend provided some impetus to the Set Top Box chipset market as existing as well as new users opted for Set Top Boxes to avail various entertainment offerings on television. However, the negative impact on manufacturing sector and supply chain bottlenecks posed challenges for timely delivery of Set Top Boxes.

As lockdowns eased and economic activities resumed gradually, the chipset manufacturers ramped up production to cater to the pent-up demand. The market is also witnessing increased preference for OTT applications rather than traditional cable TV services among consumers, especially young population. This is positively impacting the demand for more advanced Set Top Boxes with customized chipsets to support multi-streaming experience through various OTT platforms. Major Set Top Box brands are launching new products with superior chipset solutions to fulfill evolving needs of digital video entertainment seekers. The growing convergence of broadcast television and internet-based content streaming is expected to propel future growth opportunities for Set Top Box chipset market in post COVID era.

Geographical Regions with High Concentration of Set Top Box (STB) Chipset Market

Asia Pacific region accounts for the largest share of Set Top Box chipset market in terms of value, especially driven by countries like India, China and Japan. The high population, increasing digitization of cable TV networks, proliferation of low-cost offerings and preference for in-home entertainment have augmented the sales of Set Top Boxes in Asia over the years. North America is another lucrative geographical region owing to high disposable income of consumers and early adoption of advanced technologies. Europe also captures a notable market value share led by countries like Germany, UK and France. Africa and Middle East are emerging as high growth regions attributed to ongoing infrastructure development projects around cable TV networks and rising living standards of people.

Fastest Growing Region - Latin America

Latin America is poised to exhibit fastest growth in Set Top Box chipset market during the forecast period. Factors like improving economic landscape, government initiatives for digital switchover of cable television, preference for bundled service propositions and rising aspirations of middle class population are fueling the sales of Set Top Boxes across countries like Brazil, Mexico, Argentina and Colombia. Additionally, growth in internet and smartphone penetration is augmenting the consumption of OTT media services through Set Top Boxes in Latin America. Leading chipset vendors are also focusing on this high potential region through tailored product offerings and partnerships with local Set Top Box manufacturers.

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