The Portable Media Player Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Portable Media Player Global Market Report 2024, The portable media player market size has grown strongly in recent years. It will grow from $24.89 billion in 2023 to $26.86 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to pricing and accessibility, customization and user experience, rise of MP3 format, apple’s iPod impact, shift from physical media.
The portable media player market size is expected to see strong growth in the next few years. It will grow to $35.99 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to innovation in features, market competition and pricing strategies, customization and enhanced user experience, focus on compact and lightweight designs, shift in consumer preferences. Major trends in the forecast period include streaming services dominance, smartphone integration, wireless connectivity, increased storage capacity, improved battery life.
Increasing consumers purchasing power led to a rise in spending on entertainment products and is expected to propel the growth of the portable media player market going forward. An increase in purchasing power is strongly correlated with entertainment products. Because of the increase in purchasing power, people will buy more entertainment products, including TVs, DVDs, and portable media players. For instance, according to the US Bureau of Economic Analysis, in the United States, consumer spending increased to $13,916 in July 2022 from $13,818 in January 2022. Therefore, increasing consumers’ purchasing power led to a rise in spending on entertainment products, which is driving the growth of the portable media player market.
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The portable media player market covered in this report is segmented –
1) By Type: Audio, Video
2) By Industry: Flash-Based Players, Hard Drive-Based Players, Mp3 CD Or DVD Players, Networked Audio Players, USB Host Or Memory Card Audio Players
3) By Distribution Channel: Hypermarkets And Supermarkets, Electronic Stores, Online
Major companies operating in the portable media player market are increasing their focus on introducing high-quality portable music players to gain a competitive edge in the market. A portable music player is a compact electronic device designed for on-the-go music playback, typically allowing users to store, manage, and play digital audio files. For instance, in March 2023, Sony Group Corporation, a Japan-based company, launched its new flagship Walkman NW-ZX707 portable music player in India. The Walkman comes with a 5-inch display, runs on Android 12, and offers up to 25 hours of battery life. The device also features a 720p TFT color display, charges over USB Type-C, and supports storage expansion. Additionally, it uses edge-AI and Digital Sound Enhancement Engine (DSEE) Ultimate technology to upscale compressed digital music.
The portable media player market report table of contents includes:
1. Executive Summary
2.Portable Media Player Market Characteristics
3.Portable Media Player Market Trends And Strategies
4.Portable Media Player Market analysis
5.Portable Media Player Market Size And Growth
6.Portable Media Player Segmentation
7.Portable Media Player Regional And Country Analysis
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27.Portable Media Player Competitive Landscape And Company Profiles
28.Portable Media Player Key Mergers And Acquisitions
29. Portable Media PlayerFuture Outlook and Potential Analysis
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