The Set Top Box (STB) Chipset Market is estimated to be valued at US$ 3829.99 Bn in 2023 and is expected to exhibit a CAGR of 6.3 % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Set top boxes are electronic devices or systems that receive signals and decrypt video, audio and data streams from a satellite, terrestrial or cable television and enable viewing of TV programmes or recording of programmes on video cassette recorder, or a digital video recorder. Set top boxes also have advantages such as easy navigation and user-friendly interface. With increasing digitalization of television services worldwide, there is a growing need for set top boxes in the market.
Market key trends:-
Artificial intelligence is steadily making inroads into the set top box marketplace. Major set top box chipset manufacturers are developing AI-enabled chipsets designed to power next-generation smart TV platforms and streaming devices. For instance, Amlogic’s S9510 is an AI processor capable of 4K video decoding and video processing. AI capabilities allow set top boxes to offer enhanced content discovery, personalized recommendations, voice controls and other smart features. AI will continue to reshape the set top box ecosystem by making content smarter, simpler and more engaging for end-users. Chipset vendors are hence increasingly focusing on integrating AI processors into their solutions to capitalize on this emerging trend.
- Threat of new entrants: The STB chipset market requires high R&D investment and technological expertise. This raises the entry barriers for new players.
- Bargaining power of buyers: There exist a large number of buyers in the market with standardized demand. However, the degree of product differentiation gives established players bargaining power over buyers.
- Bargaining power of suppliers: The dominance of few component suppliers for essential chips and semiconductors gives them bargaining power over STB chipset manufacturers.
- Threat of new substitutes: Threat from new substitutes is moderate as IPTV and OTT players pose a potential threat to traditional pay TV operators using STBs.
- Competitive rivalry: Intense competition exists among key players to gain market share through product launches and innovations.
- Strength: Established technological expertise and large production capacities of key players. Wide range of product portfolios catering to customized requirements.
- Weakness: High R&D investments and longer product lifecycles resulting in increased costs. Dependencies on few component suppliers increases supply chain risks.
- Opportunity: Migration to 4K/HD resolution and adoption of connectivity standards like DOCSIS 3.1 to unlock opportunities. Expanding pay TV markets in developing regions.
- Threats: Declining pricing due to competition posing margin pressures. Shift to alternative platforms like OTT and IPTV eating into STB’s market.
The Global Set Top Box (STB) Chipset Market Demand is expected to witness high growth, exhibiting CAGR of 6.3% over the forecast period, due to increasing adoption of advanced connectivity standards. By 2023, the market is estimated to reach a size of US$ 3829.99 Bn.
Regional analysis – Asia Pacific dominates the global STB chipset market and is expected to continue its lead, growing at a CAGR of over 7% till 2030. This can be attributed to the large consumer base and government initiatives to digitize cable networks in major countries like India and China.
Key players operating in the Set Top Box (STB) Chipset market include Amlogic, Inc., ALi Corporation, Marvell, Zhuhai Allwinner Technology Co., Ltd., Broadcom Inc., Socionext Inc., HiSilicon (Shanghai) Technologies Co., Ltd., Pixelworks Inc., Novatek Microelectronics Corp., Rafael Micro, STMicroelectronics, Renesas Electronics Corporation, Synaptics Incorporated, Qualcomm Technologies, Inc., Telechips Inc., Sony Corporation, MaxLinear Inc., MediaTek Inc., Silicon Laboratories, Availink, Inc., MStar Semiconductor Inc., SOLUM Co., Ltd., Hangzhou Nationalchip Science & Technology Co, Ltd., and AltoBeam Inc.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it