The worldwide market for 4K-capable "set-tops" is set to reach $3.65 billion by 2024, according to Grand View Research, which factors OTT devices into its tally.
The research company expects steady growth in the U.S. market for UltraHD/4K set-tops, with the compounded annual growth rate (CAGR) averaging 3 percent a year. Simply stated, Grand View said the amount of 4K programming should increase in the coming years, driving the market for compatible devices.
Grand View said key manufacturers in the 4K device market are Arion Technology, Amazon, Infomir, Roku, SagemCom and ZTE.
The 4K market is only a small portion of an overall set-top business that Grand View earlier predicted will hit $25.45 billion by 2022.
The Asia Pacific market accounted for more than 25 percent of global revenue from 4K set-tops in 2014 and is presumed to be the global market driver for years to come.
IPTV-based devices contributed more than 20 percent of global market revenue for 4K set-tops in 2014, and are expected by Grand View to see big growth in the sector in the coming eight years.
For more:
- read this Grand View Research press release
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Global 'set-top' market to surpass $25B by 2022 … with OTT devices thrown in