In the entertainment field, the rapid expansion of set-top box (STB) technology and IPTVs is also bolstering the growth of the multimedia chipsets market. In satellite and cable television formats, STBs comprise a TV tuner input connected through high-configuration semiconductor chips for the input signal to be converted into an external signal and displayed on a screen. Likewise, television services that are delivered over the internet protocol (IP) are transmitted using local area networks (LAN) or the Internet, both of which require multimedia chipsets to support high-volume data streaming.
Emergence of Domestic Electronics Manufacturers Benefits China Multimedia Chipsets Market
These factors will aid positive development of the multimedia chipsets market at a CAGR of 6.6% from 2015 to 2023, enabling the market’s valuation to reach US$40.9 bn by 2023. Asia Pacific will emerge as a significant market contributing to the development of the global market. The region held a significant position in the global market for multimedia chipsets in the recent past as well. In 2014, Asia Pacific held the largest share in the global multimedia chipsets market owing to the steady demand for smart devices and the increasing demand for digital TV for viewing television content.