The Android STB and TV Market are estimated to reach a CAGR of 13.97 % during the forecast period. Android STB allows the television set to function as a user interfaces for the content delivered through the Internet, satellites, or television channel. A TV set equipped with an Android STB can receive and decode digital television broadcasts. The STB comes with an Android version that is pre-installed and gives the flexibility to convert the regular TV into a smart TV. The increased rate of accessibility of Android and Smart TVs, the demand for HD channels, and the driving popularity of over-the-top (OTT) services are the major factors driving the growth of the Android STB and TV Market.
The report segments the industry based on product type, application and end-use. It highlights the recent trends and technological developments in the sector that will potentially influence the industry. The research offers a detailed outlook of the trends observed in the Android STB and TV market, the contributing factors, major stakeholders, key companies and prime areas that exhibit a potential for growth.
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Additionally, the increase in the number of legislative efforts designed for promoting the use of Android STBs, which includes conversion from analog to digital television, is boosting up the sales of the market.
The Android STB and TV Market is expanding at a higher pace due to the rapid growth of over-the-top (OTT) services and locally produced and delivered content. Many Android STBs and TVs providers are working their best to give their customers a better user experience of over-the-top (OTT) apps such as Netflix, Amazon, and YouTube, and other locally produced and redistributed content that is rising the market’s growth. The rise in the number of people using Android STB and TV to access the latest video entertainment material or gaming apps will propel the market’s demand in the future days.
The popularity among the customers to use Android-powered STB or TV because of the advanced features, to enjoy rich and better user experience, and to access a larger variety of applications, is setting huge growth opportunities for the Android STB and TV Market.
During the pandemic, the market attained a good growth rate as people spent most of their time watching series, live events, programs, and other entertainment shows over OTT. This factor has driven the Android STB and TV Market growth.
Which Top Market Participants are Consider for the highest Android STB and TV market share?
Texas Instruments Incorporated (US), STMicroelectronics (US), TE Connectivity (Switzerland), Infineon Technologies AG (Germany), Robert Bosch GmbH (Germany), Sony Corporation (Japan), HONEYWELL INTERNATIONAL INC. (US), NXP Semiconductors (Netherlands), Omron Corporation (Japan), TDK Corporation (Japan), Broadcom Inc. (US), Analog Devices, Inc. (US), Murata Manufacturing Co., Ltd (Japan), FUJITSU (Japan), and SmartThings Inc. (US).
The Android STB and TV Market are segmented based on type, application, and distribution channel.
The application segment of the market is bifurcated into residential and commercial/enterprise. The distribution channel has offline and online modes through which the device is reached to the customers.
The Android STB and TV Market type segment consists of Android STB and Android TV.
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According to the regional reports, the Android STB and TV Market covers major regions such as North America, Asia Pacific, Europe, and the rest of the world. Among these regions, the North American region is growing at a significant rate, and it will continue to improve growth consistency during the forecast period. The rise in popularity of Ultra-High Definition (UHD) devices, the expansion of UHD content, and OTT platforms, such as Netflix and HBO Now, are the major reasons determining the regional market growth. The United States is considered the dominating region of the North American area due to the growing interest in over-the-top (OTT) and IPTV platforms, particularly among the younger generation.
In June 2020, Evolution Digital launched Evolution Device Manager (EDM), a cloud-based software as a service platform that allowed operators to install eSTREAM 4K devices. It provided the operators with a hosted platform that simplified the management, administration, and control of their eSTREAM 4K devices.
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