4k Set Top Box (Stb) Market Share, Size, Market Insights, Trends and Forecasts to 2022

The global 4KSet Top Box (STB) market size is expected to reach USD 3.65 billion by 2024, according to a new report by Grand View Research, Inc.

Increasing demand for UHD 4K video content, surging sales of compatible 4K TVs and display devices is expected to positively shape the Ultra High Definition (UHD) set top box market's growth prospects.

Content providers have begun offering sharper and immersive video content to the consumers on account of significant breakthroughs in the 4K technology. Large scale penetration of smart TVs has proved to be instrumental in escalating the demand for such sophisticated set top boxes. Industry vendors have leveraged on providing set top boxes with enhanced broadcast capabilities on Digital Video Broadcasting-Satellite (DVB-S/DVB-S2) standards.

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Technology giants such as Apple Inc. have managed to make their mark in this competitive market. The Apple TV device streams video and OTT content over the internet. The introduction of advanced OTT devices such as the Fire TV set top box devices from Amazon.com and Chrome cast media streaming devices by Google Inc. have opened up major growth avenues in the industry.

Increasing number of UHD content providers is expected to propel industry growth and is presumed to strengthen the industry's growth prospects. However, high initial and up gradation costs, along with high subscription fees for 4K content is expected to challenge the industry growth over the forecast period.

Further key findings from the report suggest:

IPTVUHD set top boxes contributed to over20% of the market revenue in 2014 and are anticipated to witness significant growth over the next eight years. IPTV focuses on network scalability, end-user applications, and infrastructure. With IPTV, content is provided through an internet service provider's own infrastructure, thereby ensuring UHD content...