New York, US, Aug. 03, 2021 (GLOBE NEWSWIRE) -- Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Global Android STB and TV Market information by Type, by Distribution Channel and Application – forecast to 2027” the market is estimated to record a CAGR of 14.11% over the forecast period.
Market Scope:
Android STB and Android TV for a Complete Pay-TV Experience
The global Android STB and TV Market is growing rapidly, mainly due to the rising demand for over-the-top (OTT) platforms and the content developed and distributed locally. Besides, the vast base of Android STBs and TVs providers striving to offer their subscribers a comprehensive experience of OTT applications such as Netflix, Amazon, YouTube, and content developed and distributed locally substantiate the market size. With the rising uses of Android STB and TV to access the latest video entertainment content or gaming applications, the market is projected to witness significant traction in the years to come.
Dominant Key Players on Android STB and TV Market Covered Are:
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Coship
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Arris International
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Evolution Digital
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Humax
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Kaon Media Co Ltd
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Shenzhen SDMC Technology Co., Ltd
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Nvidia Corporation
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Technicolor SA,
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Sagemcom
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Skyworth Digital Holdings
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Xiaomi Inc.
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Sony Corporation
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Panasonic Corporation
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TCL Corporation
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Hisense
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Sharp Corporation
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Haier Inc.
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Toshiba Corporation
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Hitachi Ltd.
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Vu Televisions
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Android STB and TV Market Drivers
Growing Consumer Demand for Better Integrated Content Experiences is a Major Driving Force
Besides, the rise of 5G & LTE networks and radio & TV broadcasting and social media channels boost the size of the market. Huge developments in the telecommunication industry due to the increasing deployment of 5G, 4G, and LTE networks create substantial market demand, driving the communication equipment industry.
Moreover, increasing numbers of OTT platforms and the demand for next-generation-ready network equipment led by the advent of 5G networks push the market growth. Android TV platform provides subscribers with access to the latest video entertainment content or gaming applications.
At the same time, the set-top box (SBT), a hybrid device built on the Android TV platform, provides subscribers with access to more integrated digital experiences supported by an array of broadband access technologies. Together, Android TV and SBT accommodate a full range of digital experiences, including viewing in a high dynamic range (HDR) during live events.
There have been rapid advancements in communication and smartphone technology. Resultantly, the Android STB and TV markets worldwide are estimated to garner significant traction. Increasing numbers of smartphone users across the globe have fostered developments in secured internet-based applications.
Browse In-depth Market Research Report (111 Pages) on Android STB and TV Market:
https://www.marketresearchfuture.com/reports/android-stb-tv-market-10332
Segmentation of Market Covered in the Research:
The market is segmented into types, applications, distribution channels, and regions. The types segment is sub-segmented into Android TV and Android STB. The application segment is sub-segmented into residential and commercial/enterprises. The distribution channel segment is sub-segmented into offline and online.
Regional Analysis
North America dominates the global Android STB and TV market. Rising adoption of Ultra-High-Definition (UHD) devices, the expansion of UHD content, as well as increasing consumer preference for subscription-based OTT platforms, such as Netflix and HBO Now, are major market trends.
Besides, the strong growth in telecommunication networks and the growing governmental focus on developing LTE and 5G technologies drive the growth of the market. The US, with the increasing interest in OTT and IPTV platforms, leads the regional market. Also, media consumption in the US has seen a substantial increase and a shift from traditional formats to new-age digital media.
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COVID-19 Impact on the Global Android STB and TV Market
The COVID-19 pandemic had a radical catalytic effect on the Android SBT and TV industry. There has been an upward trend in the IT & telecom industry and digital transformation from 2021 onward. The analysis shows that the fast-forwarded digitization, industrial automation, and work from the home (WFH) trend have further boosted the OTT trend.
Android STB and TV manufacturers also faced an acute shortage of workforces and attracting workers from quarantine, which, in turn, spiked the prices of the components used in Android STB and TV.
There are also opportunities for apps & services, including the Unified Communication and Collaboration (UC&C) market, which would accelerate the transition, mainly by driving competitive innovation in Android STB and TV. The market is witnessing a constant uptick over the past few months and would continue to do so during the assessment period.
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About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
CONTACT: Contact Market Research Future +1 628 258 0071(US) +44 2035 002 764(UK) Email: sales@marketresearchfuture.com Website: https://www.marketresearchfuture.com
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