India's set-top box market to hit 29.3% CAGR
Rebecca Hawkes | 25-02-2014
India's set-top box (STB) market is expected to reach 39.4 million units by 2015, up from 23.52 million in 2013, according to Frost & Sullivan.
The introduction of high definition channels and Internet-connected TVs, as well as the mandatory digitisation of cable TV networks in India, has aided the proliferation of set-top boxes in the country. Furthermore, with a predicted compound annual growth rate (CAGR) of 29.3% by 2015, Frost & Sullivan predicts there are immense opportunities for domestic STB manufacturing to pick up.
"Cumulative demand of over 100 million STBs between 2013 and 2015 highlights the immense potential this market has. This huge domestic demand indicates the need for increased indigenous manufacturing as currently the local production caters to only 30% of the demand," said Niju V, director, automation & electronics practices, Frost & Sullivan.
"Efforts underway by empowered committees such as the core advisory group for R&D in Electronics Hardware, CAREL to define specifications for indigenous STB and STB System-on-chip (SoC) are expected to culminate in made in India/made for India STBs in the near future."
The increase in local manufacturing of STBs is expected to ease supply chain challenges and lower the costs incurred by service providers currently, according to Frost & Sullivan, which tips Videocon and myBox among the indigenous STB manufacturers to perform well.