Set Top Box Chipset is the largest segment driving the growth of...

Set Top Box Chipset is the largest segment driving the growth of Set Top Box Market

Blogs IT, Cloud, Software and Technology

Posted 2023-11-13 13:03:14

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The global Set Top Box (STB) Market is estimated to be valued at US$ 3829.99 Bn in 2023 and is expected to exhibit a CAGR of 6.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

SWOT Analysis:-

· Strength: STB chipsets offer upgraded video and audio capabilities for improved home entertainment experience. They enable support for multiple multimedia formats and streaming standards.

· Weakness: Frequent upgradation needed to support emerging video technology which increases costs. Higher power consumption compared to alternative devices.

· Opportunity: Growth of OTT subscriptions and cord cutting is expanding the STB market. Integration of AI and IoT features will open new growth avenues.

· Threats: Competition from other screen devices like smart TVs and emergence of substitute technologies like mobile casting. Declining pay TV subscriptions may negatively impact demand.

Key Takeaways:-

The Global Set Top Box (STB) Chipset Market Size was valued at US$ 3829.99 Bn in 2023 and is expected to reach over US$ 6300 Bn by 2030, expanding at a CAGR of 6.3% during the forecast period. The market is driven by the rising adoption of OTT services like Netflix, Amazon Prime Video among consumers, especially in developing countries.

Regionally, Asia Pacific dominated more than 35% of the overall STB chipset market in 2023 led by countries like China, India and Southeast Asia. High population, growing internet penetration and increasing digitalization are stimulating the demand of OTT services in the region.

Key players operating in the Set Top Box (STB) Chipset market are Amlogic, Inc., ALi Corporation, Marvell, Zhuhai Allwinner Technology Co., Ltd., Broadcom Inc., Socionext Inc., HiSilicon (Shanghai) Technologies Co., Ltd., Pixelworks Inc., Novatek Microelectronics Corp., Rafael Micro, STMicroelectronics, Renesas Electronics Corporation, Synaptics Incorporated, Qualcomm Technologies, Inc., Telechips Inc., Sony Corporation, MaxLinear Inc., MediaTek Inc., Silicon Laboratories, Availink, Inc., MStar Semiconductor Inc., SOLUM Co., Ltd., Hangzhou Nationalchip Science & Technology Co, Ltd., and AltoBeam Inc.

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