New Market Trends in Set-Top Box Industry
The global set-top box market is projected to expand by USD 8.16 billion between 2024 and 2028, as reported by Technavio. This growth is expected to be driven by the integration of voice control technology into set-top boxes, resulting in a market growth rate of 5.79% during the forecast period. Despite the positive outlook, security threats associated with next-generation set-top boxes pose a challenge to market players.
Key companies in the set-top box market include ABOX42 GmbH, Advanced Digital Broadcast SA, Broadcom Inc., Catvision Ltd., Comcast Corp., and more. These players are at the forefront of driving innovation and technological advancements in the industry.
One of the key trends fueling growth in the market is the oversupply of DRAM chips, leading to price drops and increased affordability of set-top boxes. Additionally, set-top boxes now offer HD and Ultra-HD resolutions, customizable interfaces, and access to OTT services through various connectivity options.
However, the market faces challenges from security threats, particularly with the integration of multiple signal sources in next-generation set-top boxes. These threats include device tampering, software breaches, and hacker attacks, impacting both manufacturers and operators. Content owners are also demanding piracy prevention and data breach integration to protect their intellectual property.
Overall, the set-top box market is evolving rapidly, with a focus on enhancing user experience, improving digital signal quality, and meeting the demands of modern consumers. The market players are continuously innovating to stay competitive and meet the changing needs of the industry.
For more insights on the market trends and challenges, download a sample report from Technavio for a detailed analysis.