July 24, 2024
Set Top Box Chipset

Set Top Box (STB) Chipset Market is estimated to Witness High Growth Owing to Surging Adoption of Advanced Set Top Box Devices

The Set Top Box (STB) Chipset 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.

Market Overview:-

Set top box is a device that is used to receive digital television broadcasts and convert them to analog signals that can be displayed on older television sets. It allows viewers to use their preexisting televisions to access digital or internet-based media. Set top boxes are associated with broadcasting, internet protocol television (IPTV), and video on demand (VOD) technologies. They are most commonly used by cable and satellite television companies to distribute entertainment such as movies and television shows to consumers.

Market Dynamics:-

The growth of the STB chipset market is majorly driven by surging adoption of advanced set top box devices and internet protocol television (IPTV). According to International Telecommunication Union (ITU), global IPTV subscriptions reached 206 million in 2021 from 176 million in 2020. Moreover, increasing demand for advanced HD streaming, multi-channel accessibility, 4K UHD content, and over-the-top (OTT) platforms has prompted set-top box manufacturers to introduce advanced STB chipsets with high processing power and efficient storage capabilities. However, growing adoption of smart TVs and mobile devices could hamper the demand for set top boxes to some extent over the forecast period.

SWOT Analysis:-

  • Strength: The STB chipset market has a wide customer base with STB being an essential device in every household. The STB chip manufacturers have strong R&D capabilities to keep innovating and launching new advance chipsets. They offer customized chipset solutions to OEMs and operators. Amlogic Inc., Broadcom Inc. and MediaTek Inc. are leaders in this market with a vast product portfolio.
  • Weakness: The commoditization of STB chipsets has created pricing pressures for manufacturers. Fierce competition and market saturation can shrink profit margins. Manufacturers are dependent on a handful of pay TV operators for demand. Technological changes like shift to streaming devices pose a threat.
  • Opportunity: The growing IPTV subscriptions and preference for smart connected TVs present a huge market opportunity. 5G rollouts will boost adoption of streaming services driving more STB sales. Expanding broadband infrastructure in developing countries will catalyze demand. STB chip makers can expand into adjacent markets like home appliances and security.
  • Threats: Online streaming services from Netflix, Amazon Prime, Disney+ are reducing dependency on pay TV operators shrinking the addressable STB market. Emergence of cheaper Android TV boxes and streaming sticks threaten the dedicated STB market. Delay in upgrading STBs for new standards/technologies could give competition an edge.

Key Takeaways:-

The Global Set Top Box (STB) Chipset Market Growth is expected to witness high, exhibiting CAGR of 6.3% over the forecast period, due to increasing penetration of digital cable TV and DTH services.

Regional analysis: Asia Pacific dominates the STB chipset market currently accounting for over 35% share owing to large subscriber base of pay TV in China, India and Southeast Asia. North America and Europe are other major markets but growing at a slower pace compared to developing regions.

Key players: 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.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it