iCrowdNewswire Jan 14, 2021 1:00 AM ET
Global Android STB and TV Market spans across North America, Europe, Asia-Pacific, and the rest of the world
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An android-based STB is a hardware device that receives a digital signal, decodes it, and displays it on television. On the other hand, an Android TV is a smart TV enabled with an android operating system that allows seamless content streaming without the need for additional streaming devices. For STBs, the digital signal can be a television signal or internet data that is received through a cable or cellular connection. Rapid enhancement owing to the introduction of liquid crystal displays (LCDs), light-emitting diodes (LEDs), and organic light-emitting diodes (OLEDs) to Ultra HD/4K have increased the demand for high-resolution videos significantly.
According to the MRFR analysis, the global android STB and TV market had registered a market value of USD 64,834.6 million in 2019 and is expected to register a CAGR of 14.11% during the forecast period, 2020—2025. The increasing affordability of Android and smart TVs, the proliferation of HD channels, and the growing demand for over-the-top (OTT) services are some of the factors that can be attributed to the increased adoption of android STBs. The growing integration of STBs with android TVs and a rise in partnerships among the content providers, network providers, and TV manufacturers to reduce the overall operational cost of individual services also drive the demand. The major demand for android STBs and TVs is from the residential sector on account of advances in digital media and internet-based television services.
Based on region, the android STB and TV market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.
North America held the largest share of 30.89% in the global android STB and TV market in 2018 and is expected to dominate the market during the forecast period registering a CAGR of 13.95%. The presence of manufacturers such as Arris International, Apple Inc, Google LLC, are leaders in providing innovative solutions such as advanced functionality with a user-friendly interface for quick content search and discovery in android TV.
The US dominates the android STB and TV market in North America and accounts for the highest market share. The regional android STB and TV market growth can be attributed to the increasing consumer retail of OTT boxes and the presence of top global players in the country that regularly upgrade the existing STBs with new features. In 2017, DISH and DIRECTV, two major satellite providers in the US, launched their new android STBs. Recently, TCL Corporation also launched its first series of Android TVs. The company has an established market for android TVs in Europe and Asia. The increase in the shipment of android TVs and other electronic goods through e-commerce is another key factor driving the growth of the android STB and TV market in the US.
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Global Android STB and TV Market: Segmentation
The global android STB and TV market research report is divided on the basis of type (Android STB and Android TV), distribution channel (online and offline), application (residential and commercial/enterprises), and region (North America, Europe, Asia-Pacific, and the rest of the world).
The increasing popularity of high-definition television channels has set a new benchmark for the future of entertainment as the industry is inclined towards ultra-high definition (UHD) channels. This is expected to subsequently drive the growth of the market for television sets and high-speed internet providers. Thus, the proliferation of HD channels is expected to drive the growth of the global android STB and TV market during the forecast period. The rising adoption of video streaming is becoming a key factor driving the android TV market as the users can view their content on-demand and without any additional costs. Increasing the availability of high-speed mobile Internet and broadband for watching free and on-demand video content is one of the major factors contributing to market growth.
Arris International, Coship, Evolution Digital, Humax, Kaon Media Co Ltd, Nvidia Corporation, Sagemcom, Skyworth Digital Holdings, Shenzhen SDMC Technology Co., Ltd, Technicolor SA, Sony Corporation, Panasonic Corporation, Hisense, TCL Corporation, Sharp Corporation, Xiaomi Inc., Toshiba Corporation, Haier Inc., Vu Televisions, and Hitachi Ltd are the Key Players operating in the Global Android STB and TV Market.
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