Global Blu-ray Media and Devices Market - Growth, Trends and Forecast (2018 - 2023)
The Blu-ray media and devices market is expected to register a CAGR of 0.68% during the forecast period of 2018-2023. The report discusses the various types of media and devices. The regions considered for the scope of the report are North America, Europe, and various others. The study also emphasizes on the technological advancements in blu-ray technology that are affecting the market.
The world of entrainment has undergone rapid changes over the last decade. Sophisticated audio/video systems, like blu-ray media devices are gaining wide adoption with major advances being made in display and chip technology. The dire need in entrainment world to increase the quality of content is bringing new developments in the store and play electronic devices segment. Moreover, continued blend of IT and internet technologies with media and entertainment systems is enhancing the growth opportunities in blu-ray media and devices market. Compatibility of the blu-ray content on multiple devices, such as blu-ray players, gaming consoles, and PCs, is affecting the growth of this market. Further, new format 4K UHD is expected to act as a driver for extending the Blu-ray media format. In addition, it is assisting the blu-ray market, which is facing stiff competition from online services, such as streaming websites.
Decrease in the Cost of Blu-ray Devices, owing to Technological Advancements to Drive the Market
The cost of blu-ray technology has come down significantly in the past few years. Rapid innovation in this technology and presence of high competition has resulted in the price drop. With increased competition from other technologies, blu-ray manufacturers are trying to maintain the share of their market by attracting consumers with low cost devices and offering discounts. Movie and video game distributers are also offering deep discounts and combo offers to attract the customers towards this technology.
Due to decrease in prices, consumers in regions with low influence of digital technology are also expected to use this technology as a primary mode for media consumption.
Media Solutions to Witness Steady Growth Rate during the Forecast Period
Products having blu-ray content are considered as media solutions for the scope of this study. Discs having re-writable feature, high capacity, high speed of data transfer, high picture quality, relatively long life, scratch resistance, and hardware compatibility are expected to drive the media industry. Also, technological advancements in this technology has led to new formats, such as HEVC, which has led to significant decrease in the size of blu-ray media content. This factor has allowed to store more blu-ray content in the same disc, and various other blu-ray media products.
Asia-Pacific to Witness the Highest Growth
The region is expected to display the highest growth rate, owing to the penetration of blu-ray players in households and various other places. Moreover, a growth in the disposable income of the population in the region is also expected to play a significant role in increasing the demand for blu-ray media and devices in the region. Also, the presence of local players, like Sony, LG, Panasonic, Pioneer, and various others has played a crucial role in development of the market in the region
Key Developments in the Market
January 2018 - Sony announced a 4K blu-ray player that supports Dolby vision HDR and an A/V receiver that offers Dolby atmos audio at CES 2018
January 2018 - Panasonic is likely to launch three blu-ray players in 2018. One of these models introduces support for the Dolby Vision HDR platform. That model is the flagship DP-UB820. It also supports HDR10+
Major Players: KONINKLIJKE PHILIPS N.V., LG ELECTRONICS INC., PANASONIC CORPORATION, PIONEER CORPORATION, SAMSUNG ELECTRONICS CO., LTD., SHARP CORPORATION, AND SONY CORPORATION, amongst others.
Reasons to Purchase this Report
Analyzing the technological advancements and its effects on market scenario
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
The type of blu-ray solutions that are expected to dominate the market
Region that is expected to witness fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet in excel
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