With introduction of new options for accessing pay TV and premium TV channels, North America set top box (STB) market is experiencing significant upheaval. As the COVID-19 pandemic restricted large swaths of the global population to their homes, there was an unprecedented growth in content consumption as a means of entertainment globally. Among other channels, the over-the-top (OTT) streaming services noted significant expansion due to their on-demand service offerings.
With consumers hungry for content than ever before, businesses have been aggressively striving to cater to the rising demands in the form of technology upgradation, among other ways. Have a look at the three key factors bolstering North America set top box industry growth over the next few years:
The rise of OTT set top box
In response to the growing demands for video streaming services, DTH service providers are modernizing their set-top box systems with sophisticated capabilities such as OTT access, digital video recording, and improved sound quality.
AVIQ TIPc is one such company offering a line of OTT STBs that combine powerful yet affordable CPUs with cutting-edge hybrid OTT/DVB adaptability. The STBs are aimed at operators or customers who wish to supplement their multi-screen strategy with their own-branded STBs.
Media conglomerates such as ABC Television have also launched Peacock Prime, Disney+, and HBO Go over the past two years. Soon, an AppleTV+ streaming app and an AT&T and Comcast unlimited streaming subscription will be available in the market. A new OTT industry trend has resulted in an increasing number of media organizations growing sports streaming sites, offering higher quality video, and premium content to select niche consumers.
Innovative set top box for fitness enthusiasts
Modern STBs support a variety of applications, including fitness apps, to attract a wide base of customers in U.S. set top box market. Take for example Peloton, who is expanding its offerings into strength training. It's a TV set-top box with a camera and AI technology that gives feedback and guides the customer through their home exercises.
The innovative set top box is available in the market since early 2022. Additionally, through a monthly subscription, customers can gain access to a video library of strength training routines. Through innovative strategies such as the above, industry participants can cater to a global audience as well as improve their brand image in the eyes of existing customers.
Hospitals deploy set-top boxes for a patient-centric experience
The healthcare industry has recognized, just as the hotel sector, that entertainment enhances overall experience and helps develop brand loyalty. Thus, hospitals are investing in technology to improve treatment, assist financial reimbursement, promote safety, and decrease readmissions.
One of the ways they can get to this goal is by installing an infrastructure that offers high-quality entertainment on high-definition televisions comparable to what patients experience at home or in a hotel room. Canada set top box industry share from the commercial segment will grow at a promising pace through 2027.
Clinical professionals believe that a patient's hospital room significantly influences patient recovery. With almost 2,000 beds, Boston's Steward Health Care System has invested more than $850 million in technology, including changes to the entertainment experience to create a more home-like setting. Patients may also access gaming consoles through Samsung healthcare televisions in their rooms.