According to a new report from market research firm Arizton, the market will grow at a CAGR of 8% during 2018-24.
This rapid growth is, the report claims, down to multiple prominent factors such as the increased consumption of OTT content, digitalisation in emerging economies, rising internet penetration and an increasing demand from the commercial sector.
Smart apps, artificial intelligence and voice assistants are all fueling innovation in the sector and creating compelling cases for consumers to invest in the latest STBs.
The report also says that the emergence of new smartphone and online platforms and digital pathways is supporting operators to provide cloud-based non-linear and on-demand services.
Elsewhere, the report points out that the smart STB market is undergoing significant amounts of consolidation, with deals like Technicolor’s acquisition of Cisco’s set-top box division and Commscope buying Arris playing a significant role in market growth.
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