Integration of voice control into STBs key to market growth

Analysis on Impact of Covid-19- Set-top Box Market 2020-2024 | Integration of Voice Control into Set-top Boxes to Boost Growth | Technavio

LONDON — Technavio has been monitoring the set-top box market and it is poised to grow by USD 4.19 billion during 2020-2024, progressing at a CAGR of over 3% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19.

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. ABOX42 GmbH, Advanced Digital Broadcast SA, Broadcom Inc., CommScope Inc., DISH Network LLC, Huawei Technologies Co. Ltd, MyBox Technologies Pvt. Ltd., Roku Inc., Samsung Electronics Co. Ltd., and Technicolor SA are some of the major market participants.

The integration of voice control into set-top boxes will offer immense growth opportunities. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Integration of voice control into set-top boxes has been instrumental in driving the growth of the market.