Blu-ray Players Market – Industry Challenges, Key Vendors, Drivers, Trends and Forecast to 2023
Added: (Wed Feb 07 2018)
Blu-ray player is a digital optical disc data storage format. It was designed to supersede the DVD format and is establishing itself world-wide as the successor standard to DVD. It offers users many advantages in comparison to normal DVDs owing to its high storage capabilities. It is capable of storing high-definition (720p and 1080p) and ultra-high-definition video resolution (2160p). Blu-ray refers to the blue laser used to read the disc, which allows information to be stored at a greater density.
Major factors driving the growth of blu-ray players market is the increasing demand for high quality digital entertainment and changing consumer preferences about the choice of video content. Due to growing digital urbanization, blu-ray players market is growing rapidly and has given a new definition to digital entertainment. With the rapid growth in the gaming sector, blu-ray players market is expected to grow at a high rate.
The Blu-ray Players Market has been segmented on the basis of component, disc format and application. The component segment is further bifurcated into software and hardware. The hardware used in putting together a blu-ray player depends upon the disc format that will be run on the respective blu-ray player.
The global blu-ray players market is expected to grow at approx. USD 2.4 Billion by 2023, at 15% of CAGR between 2017 and 2023.
Major Key Players:
- Cambridge Audio (U.K.)
- Panasonic Corporation (Japan)
- Sony Corporation (Japan)
- Samsung Group (South Korea)
- LG Electronics Inc. (South Korea)
- Philips (Netherlands)
- Seiki Digital (U.S.)
- Magnavox (U.S.)
- Toshiba (Japan)
- Hualu (China)
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Blu-ray Players Market Segmentation:
The blu-ray players market has been segmented on the basis of component, disc format and application. The disc format segment is further bifurcated into high fidelity pure audio, advanced video coding high definition, 3D and ultra HD. Advanced video coding high definition (AVCHD) is a format for the digital recording and playback of high-definition video which was jointly developed by Sony and Panasonic. It supports a variety of video resolutions and scanning methods.
The regional analysis of blu-ray players market is being studied for regions such as Asia Pacific, North America, Europe and Rest of the World. It has been observed that North America is estimated to account for the largest share of the market, whereas Asia-Pacific is projected to grow at the fastest rate during the forecast period. The major growth in blu-ray players market in North America is attributed to the technical advancements and increasing demand for high end digital entertainment and increasing technological advancements in that region.
Market Research Analysis:
The global blu-ray players market, by geography, has been segmented into North America, Europe, Asia Pacific and Others. In the global blu-ray players market, Asia Pacific is anticipated to witness relatively faster adoption and hence is expected to grow at the highest CAGR during the forecast period. Within Asia Pacific, blu-ray players market is projected to contribute faster to the growth of revenue backed by increasing demand for high quality digital entertainment in countries such as Japan, China and India.
Across Europe, countries including Germany, France and the U.K. are anticipated to drive the growth of blu-ray players market. In Europe, the presence of advanced infrastructure with the increasing adoption of technology and technological advancements in numerous countries is driving the market growth of blu-ray players market.
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Blu-ray Players Market (MRFR) Analysis:
Blu-ray players market can be segmented on the basis of component, disc format and application. The application segment is further bifurcated into consumer electronics, cinema, automobiles and others. Blu-ray player offers various features like video streaming, Wi-Fi capabilities, surround sound, picture adjustability, disc formats, multiple disc capacity, blu-ray player live and few more. This is what makes it perfect for the applications like cinema and consumer electronics. New ultra HD blu-ray discs hold up to 66 GB and 100 GB of data on dual and triple layer discs respectively.
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Submitted by:Kiran Sonawane