Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Portable Media Player market.
Trusted Business Insights presents an updated and comprehensive analysis of Portable Media Player Market. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Portable Media Player market during the forecast period (2021-2026).Our research analyst have analysed at the short-term stress in the industries subsectors as well as long-term impacts. Analyst have also examined the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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Abstract, Snapshot, Market Analysis & Market Definition: Global Portable Media Player Market
The global Portable Media Player market size is projected to reach US$ 28.95 billion by 2026, from US$ 22.88 billion in 2020, at a CAGR of 4% during 2021-2026. The demand for compact devices with high durability is accelerating the growth. The top notch features of the new product such as high audio-video quality, compatibility, flexible storage capacity, and portability are further spurring the product demand.
Technological developments have facilitated integration of advanced features such as Wifi, Bluetooth connectivity, and USB, which make it compatible with other devices. This is augmenting the demand for the portable media player market. For instance, modern and luxury cars are coming up with portable audio-video players which have higher storage capacity and are compatible with mobile phones. Archos 35 vision 8GB, is a portable media player, suitable when travelling for long hours as it has long battery life, 8GB storage capacity, lightweight, and other features.
Developing countries such as India and China are expected to be lucrative markets for the launch of new entertainment products. Rise in disposable income and high demand for entertainment and music are encouraging consumers to spend on high-entertainment products. For instance, Saregama Caravaan is a portable audio player with features such as built-in speakers, 5000 Hindi songs, and extended battery life. The music player is gaining popularity among all age groups due to the preference of consumers towards listening old tunes. In 2018 alone, 389,000 units of Caravaan were sold.
With advancement in technology, the rise in usage of mobile devices such as smartphones and tablets with similar and additional functionalities is impacting the growth of portable media players market. The usage of smartphones is expected to grow over the forecast period which might be a major challenge in the forthcoming years.
Market Segmentation, Outlook & Viewpoint: Global Portable Media Player Market
Media Type Market Segmentation & Outlook (Revenue, USD Billion, 2014 – 2025)
Distribution channel Market Segmentation & Outlook (Revenue, USD Billion, 2014 – 2025)
Key Players, Recent Developments & Regional Insights: Global Portable Media Player Market
The portable audio players held the largest market share of 57.29% in 2018. The early developments in music recording technology and the rise in demand for music playing devices have been higher than those for video. Preference for listening to music in leisure time, mostly while working and travelling is projected to drive the demand for music playing devices. In Europe, the unit sales for portable audio devices was estimated between 184 million to 246 million units.
The video segment is anticipated to expand at a CAGR of 4.1% from 2019 to 2025. The inclination of consumers towards video entertainment such as series, movies, and music videos via online sources namely Amazon Prime and Netflix is accelerating the segment growth. For instance, Archos has launched a range of portable media players named ARCHOS Hello, which can be used for watching videos, listening audio, and connecting to people along with other features.
Distribution Channel Insights
The offline was the largest segment with a market share of 77.22% in 2018. Variety of products from several manufacturers, real time purchase decisions, free demonstrations, and guidance from sales executive on choosing the best product are the prime reasons for significant rise in sales from this distribution channel. For instance, Walmart, Costco, and Gamestop among others are some of the popular retailers that provide consumer electronics in U.S.
The online distribution channel is projected to register the fastest CAGR of 4.2% from 2019 to 2025. The increase in population and smart phone users along with ease of internet access and penetration of e-commerce are accelerating the growth. Moreover, many offline players are offering their product through the online channel as well. Apple, Samsung, Reliance Digital, and Chroma are some of the few companies that sell their products through both offline and online channels.
North American is estimated to hold the largest market share. This region is an early adopter of technology. The large market share is attributed to increasing adaptation of smart connecting devices and the expanding entertainment and media industry. The willingness of consumers to use new technologies has encouraged the manufacturers to develop advanced products. As per the trends, in July 2016, more than 40% of U.S households had a portable media player for their homes.
The APAC region is expected to be the fastest growing market, thereby exhibiting a CAGR of 4.6% from 2019 to 2025. Changing lifestyle, increased impact of western culture, rise in disposable income are the major factors responsible for the increase in demand. APAC has a large penetration for unorganized players who are coming up with new products thereby further driving the growth. For instance, Shenzhen GemDragon Display Technology Co., Ltd.,Guangzhou Desen Technology Co., Ltd., and AIYOS Technology Co., Ltd. are some of the indigenous companies in China that provides portable media players.
Portable media player Market Share insights
The market is led by the players such as Apple Inc.; Samsung; Creative Technology Ltd.; SanDisk Corporation; Sony Corporation; Archos; Microsoft Corporation; Koninklijke Philips N.V.; Coby Electronics Corporation; Cinepal; among others.
Key players focus on product innovation to attract consumers. Increasing demand from developing economies is anticipated to create business opportunities for the major companies. New product launch is one of the major strategies adopted by the companies to gain significant market share.
The companies majorly focus on product modifications by integrating upgrades and additional features. For instance, Chinese audio equipment manufacturer FiiO launched its newest portable media player in India, named M6 portable high resolution music player. This device represented the latest model in its range equipped with amplifiers, players, DACs, earphones and headphones.
Key Insights Covered: Global Portable Media Player Market
1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Portable Media Player industry.
2. Global major manufacturers’ operating situation (sales, revenue, growth rate and gross margin) of Portable Media Player industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Portable Media Player industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Portable Media Player industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Portable Media Player industry.
Research Methodology: Global Portable Media Player Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other
Quick Read Table of Contents of this Report @ Portable Media Player Market Size, Industry Growth Analysis 2020, & Forecast 2021-2026 (Includes Business Impact of COVID-19)
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