The Set Top Box (STB) chipset assists in processing and receiving multimedia signals from broadcasting stations or content providers for displays on TV sets and portable devices. By integrating advanced video, graphics, and audio processing capabilities into a single chip, it allows providers to deliver entertainment and information to consumers through set-top boxes.
The global Set Top Box (STB) Chipset Market is estimated to be valued at US$6 billion in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing adoption of cloud services and growth in internet penetration and usage have accelerated the demand for advanced STBs with high processing power chipsets. As online video streaming becomes the preferred mode of entertainment consumption, it is driving the need for powerful STBs to stream high-quality video content seamlessly across various devices. Set-top box manufacturers are focusing on integrating high-performance chipsets that can efficiently handle 4K/8K video formats and enable functions such as multi-room streaming, voice search, and personalized recommendations. This is expected to drive significant opportunities for STB chipset vendors during the forecast period.
SWOT Analysis
Strength: STB chipsets help to enable hybrid broadcasting and provide advanced features like 4K/UHD video resolutions. They integrate various components into a single chip to reduce cost and improve functionality.
Weakness: Higher prices of STB chipsets compared to generic SoCs increases the cost of set-top boxes. Frequently changing broadcasting standards require continuous upgrade of chipsets.
Opportunity: Growth in OTT streaming and adoption of smart TVs increases demand for improved video playback, processing and connectivity capabilities in STB chipsets. Emerging markets offer untapped growth potential.
Threats: Shift to mobile streaming apps and web-based video platforms reduces dependency on traditional set-top boxes. Upcoming technologies like 5G and AI integration enables alternative approaches for content delivery.
Key Takeaways
The Global Set Top Box (STB) Chipset Market Size is expected to witness high growth over the forecast period of 2024 to 2031 led by increasing digitization of television platforms and adoption of hybrid broadcasting models.
Regionally, Asia Pacific dominates the STB chipset market currently and is expected to retain its leading position during the forecast period owing to large consumer base and government initiatives to shift to digital platforms in various countries. China, India and Southeast Asian countries offer immense growth opportunities in this region.
Key players operating in the Set Top Box (STB) chipset market are Broadcom, STMicroelectronics, MediaTek, MStar Semiconductor, and Amazon. Major players are focusing on developing low power and high performance STB chipsets integrated with advanced video and connectivity standards to cater to evolving user needs. They are also investing in partnerships and mergers to strengthen their product portfolios and market share.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
