Set-Top Boxes Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2022
The set-top boxes market is expected to register robust growth in the near future. The rising flexibility in subscription-models and rising demand for smart TVs with dynamic content are likely to fuel growth of the market. Smart TVs are expected to offer even more choice to consumers with additional access to services such as Netflix, YouTube, and other streaming services. Moreover, emerging subscription models in the market are expected to provide more choice with increasing models moving towards pay-per-channel models. This is apparent in countries like the United States, where services like HBO are rising in demand. Recent regulations in India empowered set-top-box providers to compete better with dynamic content from the internet by making way for more competition and more choice for consumers. These trends are expected to be major drivers for the set-top boxes market in the near future.
Here is Some Good News
Technological like machine learning has advanced the abilities of NASA’s Solar Dynamics Observatory that boosts the ability to understand space weather and reduce possible radiation. Earlier, radiation in the space, resulted in radio blackouts or satellite malfunction. This new finding published in the the journal of Science Advances promises to be a breakthrough for many reasons.
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According to new reports, several new satellites are being put up in space for a wide variety of reasons. SpaceX alone is expected to put around 12,000 satellites with its Star link service. Better radiation monitoring are critical both for their smooth functioning and further growth of the set-top boxes market. The increased in internet speeds, better satellite signals, higher capacities are likely to become a boon for the set-top boxes market in the near future.
What Does the 5G Future Hold?
5G technology holds many promises for consumers, manufacturers, and government entities. 5G technology is likely to enable streaming content at breakneck speeds for consumers. However, this is expected to increase costs significantly for consumers and may be a hindrance to growth for the Set-top boxes market. On the other hand, the new technology is likely to combine conventional cable offerings with a smart TV via a modem. The traditional cable wire, and different modem for internet and cable is likely to go out of the window. This is a major positive for the set-top boxes market. While cable business remained lucrative, it also became a conventional choice for many consumers who are increasingly moving towards streaming services online. The combination of the two reserves cabling for the older generation and yet ultimately secures the mass appeal towards the internet along with traditional viewing. This is expected to be a major boost for the set-top boxes market.
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Some Pain Points and Challenges
The democratization of content, due to the internet is expected to deliver returns to some clear winners. Among these are HBO and Netflix. Both these channels have reached an upwards 100 million in subscriber base and continue to storm ahead of the competition. Another reason to rejoice is both of these enjoy far more freedom from their audience than conventional choices allowed them. From profanities, to discussing issues in real-time, to far more emotionally sensitive content. For example, shows like Game of Thrones have touched on concepts of deaths, incest, and generally a far darker content, perhaps the darkest in television history. The binge watching trends among consumers, and access to content in a personal space allows them to be far more open and yet acceptable. The viewership of these shows also remains largely young. The rising quality of content and its affinity to viewers is expected to drive significant growth for the set-top boxes market.
The information in this review is based on the findings of a report by Transparency Market Research, titled “Set-Top Boxes Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2022.”
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