Set-top box (STB) is a device that converts digital broadcast signals to analog or TV signals. The device has a TV-tuner input connected to a display output such as a television or a projector which is operated via an external source of signal broadcaster (a remote or a smartphone). 4K set top box plays ultra-high-definition quality videos, with a pixel resolution of 3840 pixels X 2160 lines.
Increasing demand for smart TVs & 4K TVs, and rising digitization are major factors driving growth of the global 4K set-top box market. In addition, government initiatives towards compulsory installation of set top boxes is another factor driving growth of the global 4K set top box market. Moreover, some digital broadcast providers such as Tata Sky, Airtel etc. are offering 4K set top box to provide ultra HD video quality and enhanced viewing experience. Also, these digital broadcast providers have exchange offer, were a user can upgrade his old set top box to a 4K set top box, with some additional charges. This factors are expected to further drive growth of the global 4K set top box market over the forecast period. Rising demand for home entertainment services and mini-theaters are further boosting demand for 4K set top box, which is another factor fueling growth of the global market.
High cost of 4K set top box as compared to conventional or HD set top box is a major factor hampering growth of the global 4K set top box market. In addition, high subscription cost for ultra-HD video content and low internet or network connectivity are other factor expected to hamper growth of the global 4K set top box market. However, technological advancements toward product development in terms of design, network connectivity, and cost can create lucrative business opportunities for major players and digital broadcast providers in the global 4K set top box market during the forecast period.
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The global 4K set top box is segmented on the basis of product type, and region. On the basis of region, the global 4K set top box is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
North America dominates the global 4K set top box market and is expected to witness considerable growth over the forecast period. The market in Asia Pacific accounts for third position in the global 4K set top box market in terms of revenue contribution and is expected to register highest CAGR of XX.X% during the forecast period. This growth can be attributed to increasing digitization, increasing demand for 4K TVs, and increasing disposable income among individuals in countries in the region.
Key players in the global 4K set top box market are Infomir LLC, HUMAX Electronics Co., Ltd. SAGEMCOM, Technicolor SA, Roku Inc., DISH Network L.L.C., Arion Technology, and other prominent players.