Blu-ray Players Market Highlights:
The fast paced and evolving world of technology is anticipated to witness a change in the growth charts of blu-ray players. The market is expected to experience sheer demand due to the ameliorating demand for high-quality digital entertainment and the surging rate of consumption of video on multiple device screens.
The global Blu-Ray Players Market is expected to grow at an impressive pace of 15% during the forecast period. The market is expected to reach a valuation of USD 2.4 billion by the end of the forecast period.
The global blu-ray players market hosts a number of organizations, who are aiding the growth and development of the field with their innovative insights and strategies. Some of the leading players identified by MRFR in the global market are as follows: Philips (Netherlands), Cambridge Audio (U.K.), Samsung Group (South Korea), Sony Corporation (Japan), Panasonic Corporation (Japan), Magnavox (U.S.), LG Electronics Inc. (South Korea), Toshiba (Japan), Seiki Digital (U.S.), Hualu (China), among others.
April 18th, 2019, Sony launched its all new blu-ray player that is compatible with Dolby Vision HDR standard. The 4k blu-ray player, named Sony X800M2, is expected to be out on May.
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The blu-ray players market segmentation is based upon the following segments: disc format, component, and application.
- By disc format, the market breaks down into advanced video coding high definition, high fidelity pure audio, 3D and ultra HD. The advanced video coding high definition, aka AVCHD, is a digital format recording and playback of high-definition video, one which was developed jointly by Panasonic and Sony. This disc format supports a number of scanning methodologies and video resolutions. Ultra HD Blu-ray is another new and emerging format, one which is incompatible with the present blu-ray players. However, it supports 60fps 4K UHD video encoded in HEVC with a wider color gamut and 10-bit HDR.
- By component, the market segments into hardware and software components. The hardware component is used for placing together a blu-ray player and is dependent upon the disc format that is to be run on the respective blu-ray player.
- By application, the market comprises automobiles, cinema, consumer electronics, and others.
The global blu-ray players market is geographically segmented into various key regions, namely Europe, Asia Pacific, North America, and others.
Geographically, Asia Pacific region holds the highest growth potential in the blu-ray players market as per study report released by. In the coming years, the region is anticipated to maintain its stronghold over the global market landscape. The region is slated to experience a comparatively faster rate of adoption and is forecasted to grow with the highest annual growth percentage during the assessment period. The growth of the region can be attributed to numerous key factors. However, among the driving factors, the surging demand for high-quality digital entertainment services across countries like India, China, and Japan acts as the major growth driver.
Although, Asia Pacific is the slated fastest growing market player, the global market of blu-ray players is spearheaded by North America. The regional market is anticipated to witness serious growth during the forecast period due to the presence of countries like the US and Canada. This is because of the presence of a vast pool of established key players herein and advancements in technology herein. Additionally, the regions holds a well-developed infrastructural viewpoint, thereby allowing the high penetration of devices. This subsequently offers high speed connectivity for the market and is a major driving factor behind the growth of the market in this region.
Aside from Asia Pacific, the European region is too projected to witness massive growth over the forecast period. Countries like France, Germany, and the UK are expected to contribute significantly to the growth of the market over the forecast period. The increasing adoption of technology, the presence of a well-developed and advanced infrastructure, and advancements in technology in some of the major European countries are likely to drive the growth of the blu-ray players market herein.
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