According to UnivDatos Market Insights -  The global set-top box market is expected to exhibit a steady Compound Annual Growth Rate (CAGR) of around 5% throughout the forecast period (2021-2027). This growth can be attributed to several factors, even with the rising popularity of smart TVs.

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Key Growth Drivers:

• Smart TV Sales: While smart TVs threaten to replace traditional set-top boxes, their increasing sales are actually creating a demand for STBs. Market research suggests that over half of all households globally will own a smart TV by 2026. This creates a need for additional functionalities that STBs can provide.
• Cloud Gaming: The growing popularity of cloud gaming services like Google Stadia and Tencent Games in China is fueling the demand for advanced STBs. These services require low latency features, improved processors, and video/command streaming capabilities that many STBs offer. Even basic STBs can support cloud gaming to an extent, especially with platforms like Android TV.
• Fitness Trends: The COVID-19 pandemic led to a surge in home fitness routines. Many fitness applications are now accessible through DTVs and STBs, creating a new market segment. This trend is further bolstered by the rise of smart cameras that can be integrated with fitness apps.
• Innovation and Awareness: Growing consumer awareness of internet-based set-top box options like IPTV and OTT is driving market growth. Additionally, the continuous development of innovative products like 4K UHD TVs, 3D interactive TVs, and OLED TVs is creating a demand for compatible STBs.

Market Leaders and Trends:

• The market is dominated by companies like Huawei, ARRIS International, Technicolor, and Samsung. Mergers and acquisitions are prevalent as companies strive to offer customers the most advanced and feature-rich STBs.
• Cable STBs still hold the largest market share due to their affordability and accessibility, especially in developing regions. However, the Over-the-Top (OTT) segment is expected to witness the highest growth rate in the coming years.
• High-definition (HD) and Full HD STBs currently capture a significant market share. However, with service providers increasingly offering HD and Full HD content, the market is expected to gradually shift towards 4K and higher resolution STBs.

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Latest News:

• In October 2021, Vodafone TV in Europe added Facebook Watch to their STB, highlighting the focus on expanding HD content offerings.

Overall, the set-top box market demonstrates continued growth despite the dominance of smart TVs. By catering to specific needs like cloud gaming, fitness applications, and compatibility with advanced TVs, STBs are carving a niche for themselves in the evolving home entertainment landscape.

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