The global Set Top Box (STB) Chipset market was valued at US$ 3,447.7 Million in 2020 and is expected to surpass US$ 5,108.8 Million by 2028, registering a CAGR of 5.3% during the forecast period (2021-2028), according to the Global Set Top Box (STB) Chipset Market Report, By Node Size (22nm, 28nm, 40nm, 65nm, and 90nm), By Application (Satellite STB, Cable STB, IPTV STB, and Others), By Content Quality (Standard Definition, High Definition, and 4K and Above), By Type (Front-end Chips and SoC Chipsets), and by Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa), published by Coherent Market Insights.
Set top box (STB) is a hardware device, which receives a digital signal, decodes the signal, and displays it on a television. Therefore, chipset is embedded in the set top box to convert digital signal to analog signal. This chipset consists of memory, input & output ports, and secondary storage. System on chip (SOC) contains analog signals, digital signals, or mixed signals based on the requirement. Chipsets are developed using metal oxide technology.
Merger & acquisition is top strategies adopted by players involved in global set top box (STB) chipset Market. For instance, in December, 2019, Marvell acquired Avera Semiconductor, a leading provider of ASIC semiconductor solutions. The acquisition helped Marvell to expand its ASIC (Application-Specific Integrated Circuit) design capabilities. In January 2017, Novatek Microelectronics Corp. acquired Faraday’s Surveillance Business, which includes DVR and IP-Cam SoC and other products, along with related intellectual property, technology, and fixed assets for an aggregated acquisition price of around US$ 25 Mn.
The growing digitization of television network and increase in adoption of network connectivity options such Wi-Fi and 5G connectivity in the STB SoC are expected to drive the demand for market. There has been increasing adoption of smart TVs as it allows the customers to access the TV content of their choice. Furthermore, government policies mandating the installation of set top boxes in several countries coupled with rising disposable incomes are some positive factor for the market growth. These factors are expected to drive the value of set top box (STB) chipset market at a CAGR of 5.3% over the forecast period 2021-2028.
Global Set Top Box (STB) Chipset Market - Impact of Coronavirus (Covid-19) Pandemic
The rapid outbreak of COVID-19 across the globe has significantly affected all the industries globally. The situation caused significant deterioration in economic conditions and government had to shut down commercial as well as educational sectors for a specific period. Strict containment measures have resulted in a drop of economic activities and the business environment of many organizations has changed. For instance - the ongoing and planned projects of construction, mining, and other industries have been delayed, or cancelled. COVID-19 pandemic adversely effected various businesses across the globe including manufacturing, consumer electronics, transportation, and others. According to Coherent Market Insights’ analysis, the impact of coronavirus (COVID-19) pandemic on the global Set Top Box (STB) Chipset market is moderate.
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