SELBYVILLE, Del.—The set-top box market will see record revenues of $20 billion by 2028, according to Global Market Insights.
The researchers noted that the pandemic hurt set-top box sales in 2020 and 2021 as lockdowns reduced sales and installations of set-top boxes in many regions.
Those problems were compounded by supply chain issues the hindered global trade.
But the researchers are projecting steady growth as the pandemic eases and trade recovers, with growth in most regions.
In Europe, for example, technology upgrades fueling growth, the researchers noted, while set-top boxes used in commercial applications are creating new opportunities in North America.
Meanwhile growing populations and urbanization in the APAC region is continuing to boost sales.
In Latin America, key drivers of growth are the proliferation of OTT service providers and increasing number of DTH subscribers.
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