The SAM set top box (STB) market is expected to grow from US$ 963.8 million in 2019 to US$ 1,248.6 million by 2027; it is estimated to grow at a CAGR of 3.4 % from 2020 to 2027.
The amalgamation of set top box with OTT platforms across SAM accelerates the SAM set top box (STB) market. The growth of the market is mainly attributed to the growing need for next-generation STBs, which are integrated with internet-based services, television broadcasting, and video on demand (VoD) which also allows sharing on other devices, such as multi-room television networks and portable media players. In the modern age, the media and entertainment sector is undergoing a paradigm change, largely due to the emergence of various technologies and convergence of digital technologies. With the incorporation of new features and content protection schemes, set top box architectures are becoming more sophisticated. From offering separate cables and satellite boxes to hybrid boxes integrated with IP-based OTT services, the set-top box marketplace is undergoing a technological transition. Furthermore, growing awareness regarding internet-based set-top boxes, such as Internet Protocol Television (IPTV) and OTT, boosts the product demand, more prominently in developing economies wherein the number of tech-savvy people is increasing rapidly. As a result, conventional manufacturers of cable networks are focusing on the sales of specialized hybrid set-top boxes to their customers. Thus, the integration of set-top box with OTT platforms to offer hybrid systems escalates the SAM set-top box market.
In SAM, Brazil recorded the highest number of COVID-19 confirmed cases, followed by Ecuador, Chile, Peru, and Argentina. The COVID-19 pandemic has led to the closure of all economic activities across the region to combat the spread of the virus. This has led to the increase in unemployment across the country, which has reduced the spending capacity on television cable connections. Operators provided free previews for premium networks in the early days of the outbreak, as a way to persuade viewers to stay at home and minimize churn. Since the end of free forecasts, along with rising unemployment pressures and lower wages, cord-cutting was experienced by various consumers as the pandemic and quarantine steps hindered an economy that is still emerging from recession. Thus, the above-mentioned factors are expected to negatively impact the set top box market over the years.
Based on content quality, the SAM set top box (STB) market for the high-definition (HD) segment is expected to grow faster during the forecast period. High-definition video (HDTV Video or HD video) offers higher resolution and quality than standard-definition. Primarily, any video image that comes with considerably more than 480 vertical scan lines (in North America) or 576 vertical lines (in Europe) is considered as high-definition. Images of standard resolution mainly captured at rates faster than the normal. The main difference between these two lines is their ability to display either the standard definition (SD) or high definition (HD) digital television feeds. An SD set-top box can only access standard definition channels; however, an HD set-top box can show both standard definitions including high definition channels. Advantages of HD quality such as clear picture, better image resolution, and view with more natural color are expected to increase its demand in coming years, driving the SAM set top box (STB) market.
The overall SAM set top box (STB) market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the SAM set top box (STB) market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the SAM set top box (STB) market. Advanced Digital Broadcast SA; Altech UEC; CommScope; Huawei Technologies Co., Ltd; Humax; Kaonmedia Co., Ltd.; Sagemcom; and Skyworth Group Co., Ltd. are among the players operating in the market.