India Set Top Box Market Shipment Analysis
India Set Top Box Market registered a decline of -58.2% in value shipments in 2022 as compared to 2021 and a decrease of -6.77% CAGR in 2022 over a period of 2017. In Set Top Box Market India is becoming more competitive as the HHI index in 2022 was 2425 while in 2017 it was 2748. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market. India has reportedly relied more on imports to meet its growing demand in Set Top Box Market.
India is shifting towards local production to meet its demand as we see the trend is shifting towards reducing imports. The import factor of Set Top Box Market in 2022 was 3.27 while in 2017 it was 26.84. Viet Nam, Thailand, China, Other Asia, nes and Rep. of Korea were among the top players of the market in 2022, where Viet Nam acquired the largest market share of 43.25% with a shipment value of 50.02 million USD in 2022 Viet Nam also offered the product above the average market price, but remained at the leadership position indicating the trust it holds in the Set Top Box Market. In 2017 Thailand had the largest market share of 34.95% with the shipment value of 147.28 million USD. The country was offering its product with an average price which is higher than the average market price offered in the country. Although Thailand offers its product above the market average price, it remained at the leadership position indicating the brand value it holds in the India Set Top Box Market in 2017.
