by The set top box (STB) chipset market has witnessed considerable growth in recent years on account of substantial rise in consumption of video streaming content. A STB chipset allows user to access cable or satellite television services and decode the encoded content into standard definition or high definition signals for display. They offer features like recording, rewinding, fast forwarding and time shifting. The growing popularity of streaming platforms like Netflix, Amazon Prime etc. has heightened demand for more powerful and efficient STB chipsets.
The Global STB Chipset Market is estimated to be valued at US$ 4412.15 Bn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024 To 2031.
The widespread adoption of smart TVs and integration of streaming apps have further bolstered demand for advanced STB chipsets with higher processing speeds and graphics capabilities.
Key Takeaways
Key players operating in the Set Top Box (STB) Chipset Market Size are TapImmune (US);Merck (US);BrightPath Biotherapeutics (Japan);Sellas (US);BioLife Science (US);Boston Biomedical (US);VAXON Biotech (France);Lytix Biopharma (Norway);ISA Pharmaceuticals (Netherlands);Generex Biotechnology (Canada);OncoTherapy Science (Japan);Enzo Life Science (US);Antigen Express (US);Immatics Biotechnologies (US);Immune Design (US);Immunomedics (US);Galena Biopharma (US);Generex Biotechnology Corporation (Canada);and Ultimovacs (Norway). Key opportunities in the market include growing demand for IPTV services and advancement in content streaming technologies like 4k resolution. Technological developments like integration of artificial intelligence features and increasing processing power are further boosting the adoption of new generation STB chipsets.
Market Drivers
The rapid proliferation of OTT platforms supplemented by rising internet penetration has augmented the need for advanced STB chipsets. Additionally, large-scale shift towards 4k and ultra-HD content viewing is propelling manufacturers to develop more powerful chipsets with improved video decoding capabilities. Surging demand for value-added features like cloud-based gaming and multi-device compatibility is also fueling revenue growth of STB chipset manufacturers.
Current challenges in the Set Top Box (STB) Chipset Market
The Set Top Box (STB) Chipset Market is facing challenges due to increasing demand for OTT platforms and virtual MVPDs. Users are preferring streaming services like Netflix, YouTube, Amazon Prime Video etc over the cable/satellite television due to availability of a variety of content and convenience of accessing content anytime on any device. This has reduced the need for set top boxes which use STB chipsets. Moreover, rising availability of smart TVs with built-in streaming capabilities has also impacted the demand for separate set top boxes. The STB chipset manufacturers need to adapt to the changing market dynamics and focus on developing solutions for OTT platforms to stay relevant.
SWOT Analysis
Strength: STB chipsets provide optimized video delivery and enable features like linear TV, VoD, multi-room viewing etc.
Weakness: Declining demand for hardware based set top boxes impacts chipset sales.
Opportunity: Developing solutions for OTT platforms, smart TVs and virtual MVPDs presents new opportunities.
Threats: Increasing popularity of OTT platforms is a major threat as it reduces dependency on traditional pay TV operators and set top boxes.
Geographical regions where market in terms of value is concentrated
North America and Europe currently hold majority of the Set Top Box (STB) Chipset Market share in terms of value, primarily due to high penetration of cable, satellite and IPTV services in these regions. According to estimates, North America accounted for over 30% market share in 2024 followed by Europe with more than 25% share.
The fastest growing region for the Set Top Box (STB) Chipset Market
Asia Pacific region is expected to be the fastest growing market for STB chipsets during the forecast period 2024 to 2031. This is owing to increasing digitization of cable and satellite TV services combined with growing middle class population in countries like India, China, Indonesia, Malaysia, Thailand etc. Furthermore, rising investments by pay TV operators as well as government initiatives to improve broadband infrastructure in the region is supporting the growth of the market. The STB chipset market in Asia Pacific is projected to register a CAGR of over 15% over the next 7 years.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
