These devices enable users to access HD quality video content on their HD-ready TV sets . Technologicallyadvanced TV sets and increased demand for smart TVs among the global population is gradually increasing the need to access innovative features . Manufacturers provides several variants including cable-based , IPTV , satellite , Digital Terrestrial Television ( DTT ) and Over the Top ( OTT ). In 2014 , DTT is anticipated to remain the leading set-top box system over the forecast period , which accounted over 25 % of the global industry . Satellite system sends signals received by satellite version and converts it into analog format for viewing on TV sets . Consumers require the subscription to a particular satellite pay-TV operator to use satellite STBs .
Emergence of quality standards coupled with the computational capabilities of devices to meet increasing consumer expectations have resulted in the growth of STB market globally . Migration from DOCSIS 3.0 to advanced DSL standards including vectoring and G . fast coupled with the proliferation of technology , is anticipated to offer opportunities for market growth . Global STB industry was dominated by High Definition ( HD ) Set Top Box ( STB ) devices and is expected to replace the traditional Standard Definition ( SD ) devices from 2016 to 2024 . HD devices are projected to constitute over 60 % of the overall industry revenue share in 2014 .
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High-quality sound output and HD transmission devices provide high resolution ( over 1080p ) of video content transmission . Therefore , these technologies have gained increased preference among TV users over the past few years . Service providers are introducing 3D and Ultra HD ( UHD ) STB devices compatible with 4K and 3D televisions and are gaining momentum in the market . North America is anticipated to experience growing demand for Internet Protocol TV ( IPTV ) STBs on account of rising high-speed broadband infrastructural support and the customizable features it offers to its users . In line with the energy efficiency concerns , producers are inventing new methods to add a lower sleep type mode that is available in several consumer electronics similar personal computers .
The regional market for STBs is expected to grow at a CAGR nearly 2.5 % from 2016 to 2024 primarily driven by the rise in the sales of low-cost cable , DTT and satellite DTT . The Asia Pacific STB industry is expected experience rapid growth owing to encouraging government mandates and growing consumer adoption in the region . Increase in the overall sales of such products has resulted from declining prices of TV sets . Key market players include Amazon , ADB , Cisco , Echostar , Coship , Huawei , Samsung , HUMAX , Technicolor and Skyworth . Vendors are focusing on product differentiation and integrating supplementary features in their products .
Market Segmentation