Set Top Box (STB) Chipset Market Growth Accelerated by Increased...

Set Top Box (STB) Chipset Market Growth Accelerated by Increased Adoption of Hybrid Chipsets

Posted 2024-02-02 11:52:27

Set top boxes (STBs) are network devices or pieces of hardware that enable the television set to receive and decode video and audio streams from cable television, satellite television or Internet Protocol television distributors. STBs feature multiple advantages such as enabling seamless access to cable or satellite television channels, catch-up or video-on-demand services, and recording programs for later viewing.

The global set top box (STB) chipset market is estimated to be valued at US$ 25 billion in 2023 and is expected to exhibit a CAGR of 11.% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The increased adoption of hybrid chipsets that combine functions of a traditional STB with features of a streaming device is one of the major trends spurring the growth of the set top box (STB) chipset market. Hybrid chipsets enable accessing live television along with OTT streaming services through a single device. They provide seamless integration of cable/satellite television with apps for popular OTT platforms such as Netflix, Amazon Prime Video, Disney Plus among others. Market players are focusing on developing advanced hybrid chipsets with capabilities of 4K/Ultra HD video playback, HDR support and enhanced processing power to deliver superior viewing experience. This is expected to boost the demand for hybrid chipsets significantly over the forecast period.

Segment Analysis: The global set top box (STB) chipset market is segmented based on application, type and geography. The IPTV sub segment dominates the market under the application segment. IPTV provides enhanced content delivery and interactive television experience to consumers which has boosted its adoption rate over the last few years.

Key Takeaways
The Global Set Top Box (STB) Chipset Market Size is expected to witness high growth over the forecast period.

Regional analysis shows that Asia Pacific dominates the market currently due to increasing internet penetration and digitization of cable networks in countries like China, India, Japan and South Korea. Key players in the region are expanding their product portfolio and developing innovative chipset solutions to meet regional demand.

Key players operating in the set top box (STB) chipset market are Broadcom Inc., STMicroelectronics, MediaTek Inc., Marvell Technology Group, Microchip Technology, Renesas Electronics Corporation, Sigma Designs, ZTE Corporation, MStar Semiconductor and NXP Semiconductors. Broadcom Inc. holds the largest market share due to its comprehensive product portfolio and widespread geographical presence. STMicroelectronics offers an advanced line of SoCs and RF chips tailored for next-gen IPTV, OTT and hybrid TV platforms. MediaTek Inc. focuses on developing cutting-edge system-on-chip solutions for digital cable, satellite and IPTV applications.

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