Television And Set Top Box Market Size, Share, Industry Trends and Forecast to 2030

Television And Set Top Box Market Size (2021 to 2030)

The global television and set-top box market is expected to grow at a CAGR of 4.25% from 2021 to 2030. The market is projected to reach a value of USD 320 billion by 2028.

COVID-19 Impact on the Television And Set Top Box Market

The COVID-19 pandemic has had a significant impact on the television and set-top box market. With lockdowns and restrictions in place, there was a surge in demand for home entertainment systems, including televisions and set-top boxes. This resulted in a boost in sales for the market players.

Television And Set Top Box Dynamics

The television and set-top box market is driven by technological advancements, increasing disposable income, and the growing demand for high-quality entertainment systems. Consumers are looking for smart TVs and set-top boxes that offer a range of features such as streaming services, 4K resolution, and voice control.

Segments and Related Analysis

The television and set-top box market can be segmented based on technology, screen size, resolution, and region. By technology, the market is divided into LCD, LED, OLED, and QLED. The screen size segment includes small screen TVs, medium screen TVs, and large screen TVs.

By Region Analysis

The television and set-top box market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America and Europe are the key markets due to high disposable income levels and technological advancements. However, the Asia Pacific region is expected to witness the fastest growth due to rising urbanization and increasing adoption of smart TVs.

Key Market Players and Competitive Landscape

Some of the key players in the television and set-top box market include Samsung, LG Electronics, Sony Corporation, Panasonic Corporation, and Xiaomi. These players are focusing on developing innovative products and expanding their market presence through mergers, acquisitions, and partnerships.

Recent Happenings in the Television And Set Top Box Market

1. In January 2021, Samsung announced the launch of its new range of QLED TVs with enhanced features such as 8K resolution and AI technology.

2. In March 2021, LG Electronics introduced a new line of OLED TVs with improved color accuracy and brightness levels.

3. In May 2021, Sony Corporation unveiled its latest range of Bravia TVs with advanced audio and visual technologies.

4. In August 2021, Panasonic Corporation announced a collaboration with Netflix to offer exclusive content on its smart TVs.

5. In November 2021, Xiaomi launched its Mi TV Box S with upgraded features such as 4K streaming and voice control capabilities.