PUBLISHER: Grand View Research | PRODUCT CODE: 1633737
PUBLISHER: Grand View Research | PRODUCT CODE: 1633737
The global 4K set-top box market size is anticipated to reach USD 4.13 billion by 2030, according to a new report by Grand View Research, Inc. The market is projected to grow at a CAGR of 9.2% from 2025 to 2030. The 4K STB is an electronic device that converts ultra-HD 4K video content to digital TV signals. The increasing demand and generation of ultra-HD videos worldwide, backed by the growing purchasing power, are expected to affect the market positively. For instance, in November 2022, Sony India claimed the trend of 4K content during the COVID-19 pandemic increased the demand for 4K TVs in India.
Moreover, the prices of 4K television sets are reducing, which has become a growth-driving factor for the industry. The ultra-HD (4K) set-top boxes include specifications that can meet the technological advancements 4K TVs offer by enabling enhanced picture quality and sound compared to lower-resolution TVs. The application of 4K set-top boxes in residential homes is expected to dominate the industry due to the popularity of streaming content. The trend of 4K content via OTT platforms, such as Netflix, Amazon Prime, Disney Hotstar, and more, is also offered by 4K set-top boxes. For instance, Tata Play's subscription offers a 4K set-top box along with a Netflix subscription.
The Asia Pacific region accounted for the largest revenue share in 2022 and is expected to lead the industry throughout the forecast period. Developing countries, such as India and China, are anticipated to be strong markets for 4K set-top boxes as 4K TV prices are reducing and 4K content is becoming popular and easily accessible due to fast and cheap internet services. Several DTH operators, such as Tata Play and Airtel, recognized the demand and began locally manufacturing 4K STBs to enter the market. For instance, in January 2020, Reliance Jio announced it will manufacture all STBs at the company's facility in Noida, India.