The global android set-top box market size is estimated to reach USD 695.9 million by 2025 and is projected to grow at a CAGR of 19.5% over the forecast period 2019 to 2025, according to a new report by Million Insights. Several factors such as changing consumer media experiences and increasing trends of IPTV/OTT platforms including Amazon OTT and Netflix are projected to spur the market growth in the next few years.
Android set-top box (STB) is projected to gain momentum among consumers due to the rising popularity of internet-based STB and growing demand for superior video content. The tech-savvy individuals find it easy using android devices owing to its suitable user interface. In addition, changing preference from analog to digital TV and supportive government initiatives are driving the adoption of android based STB. For example, the Telecom regulatory authority of India (TRAI) has planned to close down the transmission of the analog device by 2023. This factor is expected to propel the demand for digital media in India.
Android-based STB is equipped with Google Assistant support which helps to enable devices through audio signal or voice command. Moreover, operators in the market offer subscription-based video models for viewers. In addition, these devices provide stable middleware architecture, swift deployment and efficient system integrity that helps the operator to build a high-quality system.
Asia Pacific led the android set-top box (STB) market in 2018, owing to the increasing adoption of smart TV and internet services. Furthermore, the rising focus on content digitalization across countries like India is projected to contribute to market growth. North America is estimated to grow at the CAGR of more than 22.0% from 2019 to 2025. Growing demand for ultra-high definition content (UHD) is mainly driving the market growth. Additionally, increasing trend of OTT platforms like HBO and Netflix is also expected to positively impact on market growth.
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Further key findings from the report suggest:
• Integration of different technologies including Bluetooth Low Energy (BLE), UHD resolution and voice-enabled services with android STBs is expected to bolster market growth.
• Key players in the market offer user-friendly interface with high advanced technology is boosting the demand for android STBs.
• Growing adoption of OTT solutions has influenced vendors in the market to engage in acquisitions, partnerships with content solution providers to increase their product portfolio.
• Nowadays consumers are showing more inclination for OTT solution/service with premium paying charges for a greater experience.
Million Insights has segmented the global android set-top box market based on resolution, distribution channel and region:
Android Set-Top Box Resolution Outlook (Volume, Thousand Units; Revenue, USD Million, 2015 - 2025)
• HD & Full HD
• 4K & Above
Android Set-Top Box Distribution Channel Outlook (Volume, Thousand Units; Revenue, USD Million, 2015 - 2025)
• Brick & Mortar
Android Set-Top Box Regional Outlook (Volume, Thousand Units; Revenue, USD Million, 2015 - 2025)
• North America
• Asia Pacific
• Latin America
• Middle East & Africa