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India lucrative market for 4K UHD STBs: Grand View Research

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MUMBAI: Here’s a view on the demand for 4K or ultra high definition (UHD) set-top boxes (STBs) in India.

American research firm Grand View Research Inc has forecast in a new report that India is “poised to emerge as a lucrative market for UHD STBs with the country expected to witness a CAGR substantially higher than the regional (Asia Pacific) average. Several DTH operators such as Tata Sky, Videocon, and Airtel have launched UHD STBs and are attempting to achieve a higher rural penetration with affordable regional packages.”

The report says that the APAC 4K STB market was valued at just over $50 million in 2015 and will witness a high growth over the next eight years with India leading the charge.

The Grand View Research Inc analysis states that the global 4K STB market size is projected to reach $7.18 billion by 2024. The growing inclination of the global public towards UHD video viewing can be attributed as the major reason for the 4K STB market growth.

The demand for media-rich home entertainment services among consumers is increasing and is anticipated to fuel market growth. The growth is further fostered by favourable government initiatives, large-scale digitization programs, and mandatory installation of set-top boxes. Improved standard of living owing to increased purchasing power is positively impacting the industry growth.

The initiatives undertaken by the Federal Communications Commission for supporting third-party STB manufacturers is paving the way for the expansion of the Ultra High-Definition (UHD) STB industry. The market is anticipated to gain traction in Asia Pacific owing to the strong presence of low-cost set-top box manufacturers, especially in countries such as Korea, Taiwan, and China.

The increasing penetration of 3D and 4K TVs and escalating demand for large screen displays are fuelling the demand for UHD STBs. Smart features such as STB operability through voice commands given by remote control unit (RCU) is garnering high potential. The computational capabilities of STBs in combination with the advent of quality standards to satiate growing customer expectations have culminated in the STB market growth.

Further key findings suggest:

Internet Protocol Television (IPTV) 4K STBs accounted for over 20 per cent of the market share in 2015 and are expected to witness considerable growth over the forecast period. Increasing broadband penetration can be attributed as the major reason for the rise in the market share of IPTV 4K Set-top Box devices.

The IPTV STB product segment is projected to gain traction owing to benefits such as integration of TV, PC, home phone, and wireless devices offering a high quality of viewing experience to the end-users.

Key industry participants include ZTE Corporation, SAGEMCOM, Arion Technology, Roku, and Infomir. Manufacturers are emphasizing on UHD STBs incorporated with interactive 4K content to gain a competitive edge in the industry.

Technology giants such as Apple have managed to make their mark in this competitive industry. The Apple TV device aids the streaming of (Over-The-Top) OTT content and other videos over the internet. The launch of advanced OTT devices such as Google Chromecast media streaming device and Amazon's Fire TV STBs have opened up new avenues in the industry

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