Blu-ray Players Market Analysis
The global blu-ray players market will touch USD 2.4 billion at a 15% CAGR between the forecast period 2017- 2023, according to the new Market Research Future (MRFR) analysis. Blu-ray, simply put, is an optical storage medium that was developed for hosting HD (high definition) content. Its key uses include storage of HD games, HD videos, storing, and archiving data of all kinds. Hardware and software are its different components, and ultra HD, 3D, advanced video coding high definition, and high fidelity pure audio are its different disc format. Owing to its alluring features and attractive benefits, blu-ray devices have wide applications in different industries such as automobiles, consumer electronics, cinema, and others.
Various factors are fuelling the global blu-ray players market share. According to the recent MRFR market estimates, such factors include the burgeoning demand for high-quality digital entertainment and streaming services, changing preferences of consumers regarding the choice of video content, growing digital urbanization, enhanced audio and video quality, and need for ultra HD blu-ray players. Additional factors adding market growth include high adoption in smart homes, consumer’s rising disposable income, increasing desire for high-performance music experience and smart features, change in resolution formats, increase in the firmware update, and preference of consumers for exceptional audio-quality products.
On the contrary, lack of awareness about blu-ray media devices and players, compatibility issues, and the on-going COVID-19 impact are factors that may deter the global blu-ray players market growth over the forecast period.
Key Players
Key contenders profiled in the global blu-ray players market report include Hualu (China,), Toshiba (Japan), Magnavox (U.S.), Seiki Digital (U.S.), Philips (Netherlands), LG Electronics Inc. (South Korea), Samsung Group (South Korea), Sony Corporation (Japan), Panasonic Corporation (Japan), and Cambridge Audio (U.K.), among others. Industry players have incorporated several strategies to stay at the forefront and also suffice the consumers growing needs such as strategic alliances, mergers and acquisitions, geographic expansions, partnerships and joint ventures, collaborations, new product development, new product launches, contracts, and more.
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Market Segmentation
The MRFR report throws light on an inclusive segmental analysis of the global blu-ray players market based on component, disc format, and application.
By component, the global blu-ray players market is segmented into hardware and software.
By disc format, the global blu-ray players market is segmented into ultra HD, 3D, advanced video coding high definition, and high fidelity pure audio.
By application, the global blu-ray players market is segmented into automobiles, consumer electronics, cinema, and others.
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Regional Analysis
By region, the global blu-ray players market covers the growth opportunity and recent trends across Europe, North America, the Asia Pacific (APAC), and the Rest of the World (RoW). Of these, North America will dominate the market over the forecast period. Rising technological advances, and growing demand for high-end digital entertainment are adding to the global blu-ray players market growth in the region.
In the APAC region, the global blu-ray players market is predicted to have healthy growth over the forecast period. Increasing disposable income, high population count, digital urbanization, and growing demand for high-quality digital entertainment in India, China, and Japan are adding to the global blu-ray players market growth in the region.
In Europe, the global blu-ray players market is predicted to have sound growth over the forecast period. The setting up of several manufacturing plants, technological advances, increasing adoption of technology, and the presence of advanced infrastructure are adding to the global blu-ray players market growth in the region. The UK, France, and Germany have the utmost share in the market.
In the Rest of the World, the global blu-ray players market is predicted to have steady growth over the forecast period.
