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Europe Set Top Box Market Forecast 2027 By Sales Channel (Online, Offline), By Type (Cable, Satellite, IPTV/OTT, Hybrid), By Recording (DVR, Non-DVR), By End-Use (Residential, Commercial), Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share
Published Date: August 2021 | Publisher: Graphical Research Report ID: GR1917 | Delivery : PDF  Request Free Sample

Europe Set Top Box Market size crossed USD 4 billion in 2020 and is estimated to expand at over 2.5% CAGR from 2021 to 2027.

The demand for set-top boxes has increased significantly in European countries owing to improved TV experience offered by these devices. The set-top boxes provide several features including digital video recording, storage options, high-quality picture, and better sound quality. Furthermore, the demand for android set top boxes that allow users to watch on-demand streaming services, such as Amazon Prime, Netflix, BBC iPlayer, and Disney+ Hotstar, on big screens will propel the market growth.

Europe Set-top Box Market Size, By Region

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Market players are focusing on development of next generation set-top boxes equipped with the latest technologies to address consumer demand. For instance, in November 2020, Virgin Media UK launched Next Gen TV 360 platform and set top boxes that combine HDR and 4K and allow users to access channels and content either at home or from any place with Wi-Fi or internet connection. The setup includes two set top boxes for personal video recording. The set top boxes support voice search, video-on demand, and provide seamless TV experience.

The COVID-19 pandemic had a mild impact on the set-top box market in Europe. The market witnessed a modest decrease in manufacturing, sale, and installation of set-top boxes in the first two quarters of 2020 due to travel and trade restrictions imposed by the government authorities. However, the region witnessed a significant surge in TV viewing and streaming among youth and adult population during the lockdown period. According to the report on the country’s media habits published by Ofcom, in August 2020, UK citizens spent 40% of their day watching online video content and TV. Traditional broadcasters, such as BBC, STV, ITV, and Channel 4, witnessed 59% rise in viewership in March.

Europe Market, By End-Use

The commercial segment in the Europe set-top box market will observe a significant growth rate during the forecast period. Rapid infrastructural development in the hospitality industry is contributing the adoption of set-top boxes in hotels, resorts, and other hospitality establishments. The expansion of regional presence by hospitality industry players will fuel the demand for set-top boxes in commercial applications. For instance, in November 2019, Wyndham Resorts & Hotels announced its plan to expand its footprint in Russia and neighboring countries with 15 new hotels by 2021.

Competitive Industry Landscape

Key companies operating in the set-top box market include TechniSat Digital GmbH, Mybox Technologies Pvt. Ltd., Advanced Digital Broadcast, Vodafone, and Sagemcom Broadband SAS.

The companies are launching new set top boxes with improved functionality to enhance TV experience. For instance, in July 2021, a TV service provider, Vodafone Spain introduced its 4K set top box that can be used as a connected home hub. The set top box is integrated with Vodafone’s V-Home software and Amazon Alex, and four microphones, allowing customers to use their TV to control connected home equipment.
 

Frequently Asked Question(FAQ) :

The industry size for set top box in Europe exceeded USD 4 billion in 2020 and could exhibit a CAGR of 2.5% between 2021 and 2027.
The market for commercial set top box in Europe will record substantial growth owing to the rapid infrastructural development in the hospitality sector.
The COVID-19 pandemic has created a positive influence on the market due to a considerable rise in streaming and TV viewing during the lockdown period.
Major participants in the Europe industry are Mybox Technologies Pvt. Ltd., Sagemcom Broadband SAS, Vodafone, TechniSat Digital GmbH, and Advanced Digital Broadcast.

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