Summary

The television and set-top box market is expected to register a CAGR of over 6.21%, over the forecast period (2021 - 2026).

With the worst effect of the pandemic on the supply-chain, players operating in the market had suffered a lot in order to develop their planned STB products. For instance, GTPL Hathway, a cable feed provider, has been forced to postpone the launch of its hybrid Android set-top-box for the second time after the COVID-19 pandemic hit its supply line. However, amid due to covid-19, in April 2020, The Ministry of Information & Broadcasting (MIB) asked the television broadcasters and DTH operators to cooperate with distributors across the value chain to provide for the interest of viewers and public safety.

- The government regulations mandating the installation of set-top-boxes, deployment of open OS based devices by STB vendors, and analog switch-off transition in emerging countries are driving the demand of the STB market. ​
- For instance, the Government of India has made STBs compulsory through an amendment to the Cable Television Networks (Regulation) Act. Set-top boxes provide a better viewing experience because of digital signal and help in preventing illegal channels from being broadcasted in India. The analog switch-off transition in India was expected to result in digital cable and satellite almost entirely making up the Pay TV market in the country in 2018.​
- Technological innovations led to the development of a wide range of STBs equipped with various features. This, in turn, has made the competition fierce among the set-top-box companies. Digital video recording is one of the most desired features, as it enables the viewers to watch and record their favorite shows. ​
- Furthermore, ZTE also announced that it may demonstrate its far-field 4K AI STB S200 that can work with voice commands. The S200 is an all-in-one home assistant, with functions, like IPTV/OTT services, smart speaker, home control, home media sharing, and home networking.
- Also, the market is also witnessing an integration of OTT and IPTV. For instance, ZTE is about to launch its 4K Hybrid STB for operators. This STB has been integrated with IPTV and Google ecosystem functioning with a wide range of Google apps, like Google Music and Google Games, thereby allowing users to access both the IPTV and OTT services at the same time.

Key Market Trends

Satellite Type is Expected to Witness Significant Market Growth

- Satellite television is one of the most important applications of the set-top box market. One of the innovations in satellite TV is the introduction of a show-recording facility, which enables consumers to record their shows in real-time and watch it later, as per their convenience.
- Apart from this, Satellite STB units are also being increasingly equipped with interactive features, like video-on-demand, electronic program guide, etc. More advanced units also provide a suite of interactive and multimedia services directly through a user television system, such as internet browsing, email, and instant messaging, in addition to basic functionality.
- D2h provides HD SMART Set top Box that converts an existing LED TV into a Smart TV. This set top box allows the users to browse content from Twitter, Facebook, Daily Motion, video on demand sites, OTT apps, and news. HD Smart Set Top Box will work as a tool for personalization and new customer experiences. With internet connectivity, one can convert one’s TV into a smart TV by using it. ​
- Besides, this set top box, developed by TRAI (Telecom Regulatory Authority of India), allows the subscribers to use the same STB interchangeably between various service providers in India. According to recent reports the first phase of testing is over, and this could mean that the deployment of these interoperable systems could take place sometime in 2020.

Asia Pacific to Hold the Major Market Share

- Due to the market saturation of Pay TV consumers and stiff competition, the vendors in Asia Pacific (a relatively competitive market) region are constantly trying to add features to their Smart android based Televisions, such as gateway abilities, security, Applications and HD functionality.
- However, with the advancements in technology, the growing focus on better quality videos and powerful interfaces with technology are the major factors driving the growth of Television and Set-Top Box Market in the region.
- The year 2020 had a significant impact on the pay-TV industry and forced an already highly dynamic industry to review their long term plans due to the accelerated evolution of consumer behaviour and consumption. This need for innovation, required to match both the speed of evolution and the ever-savvy consumer, brings solutions like NAGRA and Samsung's TVKey into sharp focus.
- Reliance Industries' next steps for a 'digital India' include Jio TV+ to offer content from 12 OTT players on one sign on. The service has content from the likes of YouTube, Voot, Prime Video, Sony Liv, Sun Nxt, Amazon Prime Video, Disney Hotstar and Netflix under one login ID.

Competitive Landscape

The television industry has been witnessing a myriad of changes over the past several years, and it has become more diverse than ever. The players are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, as well as partnerships.

- April 2020 - D2h launched an HD RF Set-Top Box with Magic stick combo offer. It come along with a one-month subscription of the Gold HD Combo channel pack. The new development emerged just days after D2h reduced the prices of its HD and SD set-top boxes by INR 100. The company also just last month launched the D2h Magic stick alongside its Android-based set-top box D2h Stream.

Reasons to Purchase this report:

- The market estimate (ME) sheet in Excel format
- 3 months of analyst support

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