The global Android Set-Top Box Market is expected to reach USD 701.23 million by 2026, growing at a revenue-based CAGR of 20.8% during the forecast period of 2021 to 2026.
An Android setup box is a gadget that connects to your television through an HDMI cable. Network TV shows, video websites, and games may all be seen via the Android setup box. Because of their ability to run the Android TV operating platform, they come in various shapes and sizes. Due to their seamless experience, their recognition has increased. It is best suited for those who travel regularly. They offer local storage so that videos can be stored in the library and viewed on-demand. In addition, they provide consumers with a wide range of services on their televisions, from web surfing to video streaming. Due to a considerable shift in media habits, the global android set-top box industry is expected to rise significantly in the following years.
MARKET KEY TRENDS
One of the major elements driving the global market for an android set-top box is increased viewers' demand for hybrid content. Furthermore, the expansion of digitization in emerging countries assists the need for an android set-top box (STB) to overgrow. Other factors, such as increased internet penetration and the adoption of OTT and IPTV platforms, are likely to provide considerable development potential throughout the projection period.
Because of its features, such as broad content, a rich and powerful user experience, and access to a more excellent range of apps, Android-powered set-top boxes are quickly becoming a popular choice among consumers. These devices are far more individualized than traditional STBs and so appeal to a broader audience. Several built-in features, like speech recognition, a robust app ecosystem, TV Input Framework (TIF), and video-conferencing, are projected to boost device adoption in the coming years. In addition, these Android boxes provide users with various connectivity options, including HDMI outputs, USB ports, Bluetooth, Wi-Fi, and Ethernet.
Android set-top boxes are increasingly gaining popularity among the manufacturers as well. Because of the lower development costs and faster time-to-market, significant participants in the market are designing and deploying Android set-top boxes. As a result, these boxes are gaining traction and are beginning to eat into the already crowded set-top box market. This expansion is primarily due to an increase in the number of relationships with OEMs and operators worldwide.
Customers have been growing their demand for OTT streaming services and platforms over the last few years. The global availability of high-speed internet encourages OTT and Video on Demand (VoD) services. Consumers now have a variety of content consumption options thanks to the entry of OTT services. OTT streaming's rise is fueled by several factors, including low-cost, flexible business models, as well as accessibility across several devices without the need to sign a long-term commitment.
Because of advanced technologies like 4G/LTE and quick development in next-generation 5G connectivity, the world is seeing significant growth in broadband connection throughout growing regions. Furthermore, advances in next-generation satellite technology are also projected to lead to faster and more reliable delivery of digital services. In addition, because video consumption is increasingly taking place in digital formats, viewers are spending more time on digital platforms than on conventional mediums.
Customers' uncertainty, fear, and skepticism about the product, on the other hand, will be a significant impediment to the expansion of the Android set-top box (STB) and television (TV) markets. In addition, the android set-top box (STB) and television (TV) markets will be constrained by high labor costs.
Android Set-Top Box Market is segmented into the following categories as per the research report until 2026.
Based on the resolution, the 'HD and full HD' segment led the market in 2020 and is yet to continue during the forecast period. Because of the high-video quality delivery at a cheap price, HD and full HD android boxes are majorly recognized by the consumers. Furthermore, the low pricing and convenience with which these boxes are available to entice the middle-class population, resulting in increased demand for this market. Thus, traditional SD boxes are gradually being replaced with HD and Full HD Android set-top boxes, resulting in more significant revenue.
Between the projection period and the end of the forecast period, the '4K and above' category is predicted to increase at the highest rate. A rising desire for unique, ultra-high-resolution content is expected to fuel demand for "4K and above" boxes worldwide. Furthermore, the growing preference for at-home entertainment via large-screen TV displays is expected to provide considerable growth prospects for 4K android set-top boxes shortly.
Depending on the distribution channel, the brick-and-mortar segment accounted for the majority of total income. Physical verification of the product by the consumer before making any purchase decision is one of the elements driving the growth of this market. Furthermore, most buyers first study and gather product-related information on online platforms before purchasing it in physical stores, boosting the brick-and-mortar segment's growth.
Because of shifting customer preferences to purchase on e-commerce platforms, the online segment is expected to develop significantly in the future years.
In terms of volume, the Asia Pacific region dominated the entire market for android set-top boxes. An increase in internet usage and intelligent TV penetration, which leads to online data consumption, is a crucial element influencing growth in the region. Furthermore, increased consumer awareness of content digitalization in emerging markets like India will boost regional growth. China is one of the leading countries, with many companies producing both low-cost and feature-rich Android set-top boxes.
The android STB market in North America is predicted to grow significantly throughout the foreseen period with a CAGR of 2%. The adoption of Ultra-High-Definition (UHD) devices, the proliferation of UHD content, and the growing consumer desire for viewing content via subscription-based OTT platforms like Netflix & HBO are primary reasons driving the regional market's growth. Because of the increasing interest in OTT and IPTV platforms, particularly among younger demographics, the United States is estimated to be dominant. In addition, media consumption in the United States has increased significantly, with a shift away from traditional forms and toward new-age digital media.
Market Key Players in the Android Set-Top Box Market
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Android Set-Top Box Market , By Resolution
6.1.1 HD & Full HD
6.1.2 4K & above
6.1.3 Market Size Estimations & Forecasts (2021-2026)
6.1.4 Y-o-Y Growth Rate Analysis
6.1.5 Market Attractiveness Index
6.2 Android Set-Top Box Market , By Distribution Channel
6.2.4 Market Size Estimations & Forecasts (2021-2026)
6.2.5 Y-o-Y Growth Rate Analysis
6.2.6 Market Attractiveness Index
6.3 Android Set-Top Box Market , By Application
6.3.3 Market Size Estimations & Forecasts (2021-2026)
6.3.4 Y-o-Y Growth Rate Analysis
6.3.5 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2021 - 2026)
7.2.1 By Country
7.2.2 By Resolution
7.2.3 By Distribution Channel
7.2.4 By Application
7.3.1 By Country
220.127.116.11 Rest of Europe
7.3.2 By Resolution
7.3.3 By Distribution Channel
7.3.4 By Application
7.4 Asia Pacific
7.4.1 By Country
18.104.22.168 South Korea
22.214.171.124 South East Asia
126.96.36.199 Australia & NZ
188.8.131.52 Rest of Asia-Pacific
7.4.2 By Resolution
7.4.3 By Distribution Channel
7.4.4 By Application
7.5 Latin America
7.5.1 By Country
184.108.40.206 Rest of Latin America
7.5.2 By Resolution
7.5.3 By Distribution Channel
7.5.4 By Application
7.6 Middle East and Africa
7.6.1 By Country
220.127.116.11 Middle East
7.6.2 By Resolution
7.6.3 By Distribution Channel
7.6.4 By Application
8. Key Player Analysis
8.1 Panasonic Corporation
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Hitachi, Ltd.
"8.3 Sony Corporation
8.4 NVIDIA Corporation
8.5 Airtel India
8.7 Huawei Technologies Co., Ltd.
8.8 International Limited
8.9 Toshiba Corporation
8.10 Evolution Digital, LLC
8.12 Kaonmedia Co., Ltd.
8.13 HUMAX Electronics Co., Ltd.
8.14 Skyworth Group Limited
8.17 Shenzhen SDMC Technology Co.,Ltd.
8.19 SHARP CORPORATION
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures