The Europe set top box (STB) market is expected to grow from US$ 5,183.5 million in 2019 to US$ 6,100.7 million by 2027; it is estimated to grow at a CAGR of 2.2 % from 2020 to 2027.
The increasing technological transformations in set-top box (STB) in Europe drive the market growth. Technological advancements have led to the introduction of a wide variety of STBs exhibiting different characteristics. This has eventually led to fierce rivalry among the set-top box providers. Digital video capture is one of the most desired functionalities of set top boxes as it allows audiences to record their favorite shows and watch them later as per their convenience. A standalone set-top box that allows viewers to transmit and record TV programs is an over-the-air digital video recorder (DVR) system. Apart from DVRs, subscription-based TV service providers also sell STBs to consumers. Companies are integrating features such as voice command with the help of technologies such as natural language processing (NLP) to simplify searching channels and shows. Interactive features such as video-on-demand and electronic program guide are also increasingly being incorporated in satellite STB units. In addition to basic features, the set-top box units also include a range of interactive and multimedia facilities, such as internet browsing, email, and instant messaging, directly via consumer television device. The DVR feature is also included in cable and satellite set-top boxes, enabling viewers to enjoy content at their convenience. The use of MPEG-4.10 (H.264) and SMPTE 421 M (VC-1) allows more sources for content and decreases the risk of early product obsolescence. Thus, the abovementioned technological advancements are bolstering the growth of the Europe set top box (STB) market.
Countries in Europe, especially the UK, are adversely affected due to the COVID-19 outbreak. Western European countries have seen a comparatively modest decrease in their growth activities because of the strong healthcare system. To protect citizens from the infection, the European government has made tremendous investments in incorporating technologies in its healthcare systems to help identify signs of the virus. Due the sudden outbreak and lockdown across major countries in the Europe, the region has observed a rise in the TV viewing among the population. According to studies, the region has observed a surge by 72 minutes in average TV watching time in a day. TV watching was 45% more among younger groups aged 16–34 years, which was increased by 85 minutes extra per day. There was rising use of Netflix and an increasing number of first-time users on YouTube; thus, app use on Sky Q has increased by almost 70%. Thus, the rise in time spend for TV watching is expected to positively impact the set-top box market in Europe. However, the outbreak has adversely affected the manufacturing and distribution of the set-top box across the region. Thus, owing to the above-mentioned factors the set-top market is expected to be moderately affected over the forecast period.
The cable segment, based on product, dominated the Europe set top box (STB) market in 2019. A set-top box (STB) is also colloquially known as a cable box, and it is an information appliance device that basically contains a TV-tuner input and displays output to a television set plus an external source of the signal, turning the source signal to content in a form which can then be displayed over the television screen or other display device. A cable box is an electronic device that mainly converts a digital television signal into an analog or unscrambles television signal. This set-top box is a device that enables a TV set to receive and decode digital television (DTV) broadcasts. A computer that is connected to the television allows viewers to use a telephone line or a cable connection to browse the internet and exchange electronic mail on the television. Advantages of cable such as less cost, more reliable, and easy configurations are expected to increase its demand, which would drive the Europe set top box (STB) market in coming years.
The overall Europe set top box (STB) market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the Europe set top box (STB) market. Advanced Digital Broadcast SA; Altech UEC; CommScope; COSHIP; Huawei Technologies Co., Ltd.; Humax; Kaonmedia Co., Ltd.; kyworth Group Co., Ltd.; Sagemcom; and Technicolor SA are among the players operating in the market.