Global Set-Top Box market segments 2024, Forecast To 2033

The set-top box market size has grown strongly in recent years. It will grow from $27.25 billion in 2023 to $29.29 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to cable and satellite tv subscriptions, demand for digital tv services, transition to hdtv and 4k content, on-demand and streaming content, technological advancements in set-top box features, global expansion of media and entertainment, consumer electronics industry growth. The set-top box market size is expected to see strong growth in the next few years. It will grow to $40.92 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%. The growth in the forecast period can be attributed to cord-cutting and shift to ott (over-the-top) services, 5g and iot connectivity in set-top boxes, interactive and voice-controlled stbs, enhanced security and content protection, integration of gaming and multimedia features, smart home integration with stbs, sustainable and energy-efficient stbs. Major trends in the forecast period include set-top boxes with ai assistants, edge computing and content caching in stbs, modular and upgradable stb designs, cloud-based streaming and dvr services, universal remote control apps for stbs, ultra-high-definition (uhd) and hdr content support, biometric and facial recognition for personalized content.