Digitization Switchover Fuels Set-Top Boxes Market Across World

According to a new market report published by Transparency Market Research entitled “Set-Top Boxes Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 - 2022,” the global set-top boxes market is expected to reach a value of US$ 24.00 Bn by 2022. The market is estimated to grow at a CAGR of 6.4% during the forecast period from 2015 to 2022.

Browse the full Set-Top Boxes Market report at:
http://www.transparencymarketresearch.com/set-top-boxes-market.html

Increase in the digitization switchover is boosting the adoption of digital broadcasting content among end-users. This, in turn, is driving the demand for set-top boxes among pay TV operators. Furthermore, the introduction of interactive services such as personal video recording, movies on demand, shopping, and games is expected to boost the adoption of the set-top boxes market in the coming years. Asia Pacific was the largest market for set-top boxes in the year 2014, accounting for a market share of around 31%. Asia Pacific is also expected to be the fastest-growing market for set-top boxes, at an estimated CAGR of 9.9% during the forecast period. Due to rapid digitization switchover and a large pay TV subscriber base, the set-top boxes market in Asia Pacific is expected to grow significantly during the coming years. North America is a mature market in terms of the adoption of set-top boxes due to early digitization switchover. The growth of the overall set-top boxes market in North America is expected to be driven by the adoption of IPTV and HBB set-top boxes during the coming years.

Among the set-top box types, cable set-top boxes held the largest share of around 34% in 2014, globally. A significant portion of pay TV operators are using cable set-top boxes as most countries are currently in the process of the digitization switchover. During the forecast period, the market for IPTV set-top boxes is expected to expand at a CAGR of 10.7%. This growth is anticipated to be...