Portable Media Player Market Size & Trend | Segments, Opportunity, Challenges, Major Manufacturers, Industry Demand Estimate & Global Forecast
The global portable media player market size is anticipated to reach USD xx billion by 2025. It is projected to register a CAGR of xx% during the forecast period. The top notch features of the products such as high video and audio quality, compatibility, flexible storage capacity, ease of use, and portability among others, are anticipated to drive the demand.
Portable media players can be easily connected through Wi-Fi, Bluetooth, and USB, which makes them compatible with a number of devices. With advancements in technology and rise in Internet of Things devices, the demand for portable media players is increasing. For instance, modern and luxury cars are coming up with portable audio and video players which can store large amount of data and can also be connected to the 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, light weight, and other features.
The video portable media player is anticipated to expand at a CAGR of 4.1% from 2015 to 2025. The inclination of consumers towards video entertainment such as series, movies, and music videos is accelerating the segment growth. For instance, Archos recently launched a range of portable media players ARCHOS Hello with audio visual connectivity.
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On the basis of distribution channel, the offline category held the largest share of 77.22% owing to the benefits of the product such as real time purchase. Availability of a wide range of products from different brands and guidance from sales executive on choosing the best product can further drive the demand. For instance, Chroma is the leading retailer of consumer electronics in India. Currently there are 125 stores in 28 cities in India, offering variety of portable media players, with Saregama Carvaan being the most popular portable audio player.
Further key findings from the report suggest:
- Hypermarket and supermarket distribution channel held the largest market share of more than 30% in 2018, due to the ability of real time purchase, different brands to choose from, and guidance from sales executive on choosing the best product
- Audio player media type segment held the largest market share of over 57% in 2018 and is anticipated to witness significant growth over the forecast period
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Grand View Research has segmented the global portable media player market on the basis of media type, distribution channel, and region