The Blu-ray media and devices market is expected to register a CAGR of -10% during the forecast period (2020-2025). The media and entrainment industry has undergone rapid changes over the past few years. Advanced audio/video systems, like Blu-ray media devices, are gaining huge adoption with major advancements being made in the display and chip technology.
- The Blu-ray market is facing stiff competition from other channels of entertainment like online services, such as streaming websites, which is expected to be the biggest restraining factor for the market growth,
- The drastic need in the entrainment world to primarily increase the quality of the content is bringing major developments in the store and electronic devices segment. Moreover, the continued combination of IT and internet technologies with the media and entertainment systems is expected to enlarge the growth opportunities in Blu-ray media and devices market.
- The compatibility of the Blu-ray content on many devices, such as Blu-ray players, gaming consoles, and PCs, is largely affecting the growth of the market. Further, the launch of the new format 4K UHD is also expected to act as a driver for extending the Blu-ray media format.
- Also, the cost of Blu-ray technology has decreased significantly in the past few years. Rapid technological innovation in this technology and the presence of high competition in the market has resulted in the price drop. Owing to the increased competition from other technologies, Blu-ray manufacturers are trying hard to maintain their share of the market by attracting consumers with low-cost devices and offering discounts.
Scope of the Report
Blu-ray is basically an optical disc format like CD and DVD. It was primarily developed for recording and playing high-definition videos and for storing large amounts of data. While a CD can hold up to 700 MB of data and a basic DVD can hold 4.7 GB of data, a single Blu-ray disc can hold up to 25 GB of data
Key Market Trends
Media Solutions to Witness Steady Growth Rate
- All the products having Blu-ray content are considered as media solutions for the scope of this study. The Blu-ray discs having features like re-writable, high capacity, high speed of data transfer, high picture quality, scratch resistance, relatively long life, and hardware compatibility are expected to drive the media industry.
- Moreover, technological advancements in this technology have led to the creation of new formats, such as HEVC, which has led to a significant reduction in the size of Blu-ray media content. These advancements have allowed storing even more Blu-ray content in the same disc, and various other Blu-ray media products.
- Owing to the decrease in prices, consumers across various regions with a low influence of digital technology are also expected to adopt this technology as a primary mode for media consumption. Moreover, Movies and video games distributors are also offering major discounts and combo offers to acquire new customers towards this technology.
- However with the increasing adoption of the online channel for media and recreation purposes, the market is witnessing a decrease in sales, which is a major restraining factor for the market growth.
The Asia-Pacific is Expected to Witness Significant Growth
- The Asia-Pacific region is expected to witness the highest growth rate, owing to the increasing penetration of Blu-ray players in homes and various other places. Moreover, growth in the disposable income of the population in this region is also expected to play a major role in increasing the demand for Blu-ray media and devices in this region.
- Also, the presence of major players, like Sony, LG, Panasonic, Pioneer, and various others has played a very crucial role in the development of the market in this region.
- Furthermore, with an increasing number of media production houses which are releasing movies in Blu-ray format, and the rapidly increasing adoption of High Definition televisions in the region is expected to drive the demand for high-quality media, which is expected to drive the demand for the Blu-ray devices during the forecast period.
The Blu-ray Media and Devices Market is highly competitive owing to the presence of many large players in the market providing products in domestic as well as in the international markets. The market appears to be fragmented with few of the players accounting for the major market share. The strategies adopted by major players are product innovation and mergers and acquisitions to expand their product portfolio and to stay ahead of the competition. Some of the major players in the market are Koninklijke Philips N.V., LG Electronics Inc., Panasonic Corporation among others.
- July 2018 - Philips extended its North America TV brand, Blu-ray players' license with Funai for the additional term.
- January 2019 - Panasonic launched two high-spec new Blu-ray players at CES 2019, the DP-UB150 and the DP-UB450. Both players support the latest version of HDR, HDR10+, which allows the brightness of the picture to be adjusted on a frame-by-frame basis, which the company claims will provide a more detailed image than ever before.
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