by A set-top box (STB) is an information appliance device that generally contains storage and allows a television to receive and decode digital television broadcasts. STB chipsets act as the core component in set-top boxes facilitating decoding of compressed video formats to enable the delivery of cable television, satellite signals, and over-the-air television through an internet protocol TV (IPTV) infrastructure. Advancements in video compression technologies such as MPEG-4 and H.265 have enabled the delivery of multimedia content over IP-based networks requiring efficient STB chipsets capable of handling the decoding workload.
The global 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 from 2024 to 2031.
Rapid digitization of television services and the rising preference for video streaming and video on demand models among consumers are major factors driving the demand for advanced Set Top Box (STB) Chipset Market Size. Additionally, the proliferation of hybrid STBs that enable both linear TV as well as OTT content delivery is creating new opportunities in the market.
Key Takeaways
Key players operating in the set top box (STB) chipset market 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).
The shifting preference towards streaming multimedia content and video on demand services has created opportunities for major Set Top Box (STB) Chipset Market Size manufacturers and system integrators to offer hybrid STB solutions compatible with both linear as well as OTT content delivery. Additionally, proliferation of multi-screen experiences where consumers access content across smart TVs, smartphones, and tablets has prompted chipset developers to introduce solutions offering whole home playback of content.
North America, Europe and Asia Pacific currently hold the majority of the market share. However, regions such as Latin America and Middle East and Africa are anticipated to witness high growth, especially with initiatives promoting digitization of cable and satellite networks. Emerging economies with rising disposable incomes offer lucrative expansion opportunities.
Market drivers
One of the key drivers for the set top box chipset market is the increasing digitization of cable, satellite as well as telecom networks. Government mandates in various countries have accelerated the phase out of analog television transmissions in favor of digital transmissions. This has necessitated upgrades of the underlying infrastructure requiring more advanced STB solutions. Furthermore, rapid adoption of hybrid STBs and convergence of linear TV and OTT content consumption on single platforms will continue driving revenues for STB chipset manufacturers over the forecast period.
PEST Analysis for Set Top Box (STB) Chipset Market
Political: Government initiatives and regulations regarding digitalization of cable TV and broadcasting will impact the market. Regulations around data security and privacy will also affect the businesses.
Economic: Changes in global and regional economic conditions influence spending on pay TV services and upgrade of set-top boxes. Replacement demand and adoption of hybrid and IP-based boxes depends on economic growth.
Social: Changing viewer preferences and consumption patterns shape the demand for advanced features in set-top boxes. Adoption of OTT services and streaming content influences the need for multi-screen support and app-based functionalities.
Technological: Developments in broadband infrastructure, connectivity standards and video compression techniques drive innovation in chipsets. Transition to cable modem platforms and move towards hybrid boxes powering over-the-top applications spur technical advances.
The Asia Pacific region accounts for the majority value share in the set top box chipset market led by countries like China, Japan and India. High subscriber base of pay TV services along with government initiatives to improve connectivity has boosted demand.
North America is the fastest growing region due to rising adoption of internet protocol television and deployment of hybrid devices offering streaming applications. Upgrades of aging cable infrastructure is another factor augmenting consumption of set-top boxes.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
