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India Set Top Box (STB) Market-Industry Consensus-2014

June, 2014

According to the annual report titled Indian Set Top Box Market –Trends, Analysis and Forecast (2014-2019), STB Industry is anticipated to grow between 15% and 20% CAGR during 2014 to 2019Indian Set Top Box Market is following a higher trajectory over the last three years due to government mandates concerning digitization, aggressive marketing strategies of operators, rising TV market, growth of households, increasing disposable income, and higher trends of urbanization among Indian population. The few things holding back the rapid growth in the market are dynamic PESTLE conditions, pace of digitization, and lack of awareness.Major trends to be witnessed in the market are consolidation among multi service operators, launch of new service and entertainment packages, multi screen features, android boxes, IPTV, Wi-Fi ports, multimedia features, and single dashboard interaction STBs. DTH and cable STB providers will have tough competition among each other in order to sustain and grow their customer base.

According to 6Wresearch, major challenges faced by the industry are timely installation of STBs, capability to provide customized entertainment requirements of individuals, and establishment of efficient technical and customer support centers. Set Top Box supply is mainly met from imports from countries such as China, Korea, Taiwan due to cost advantages and supply capabilities. The domestic production in India constitutes a miniscule share of overall supply at present and is expected to continue in similar manner during the end of forecast period due to high import dependency for critical STB components and low government support. Set Top Boxes imported from foreign countries are purchased directly by MSOs, which in turn are sold to the customers directly on a lease basis thus avoiding VAT for the imported STBs. However, local manufacturers are required to charge VAT on the production of Set Top Boxes in India making their product less competitive in terms of cost and thus impacting their production of Set Top Boxes in India.

According to 6Wresearch, top players in the India Set Top Market include Skyworth, Cisco and Technicolor. Leading domestic players in India include Videocon, Mybox and Logic Eastern. Videocon, being the only integrated DTH Company in India, meets its own requirement and thus attaining leadership in the Indian Domestic Market, where as Mybox with strong financial partners and manufacturing, distribution & service capabilities is expected to make strong footprints in the Domestic market over the coming Years.

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