Portable Media Players Market Size Analysis Overview 2022:
The global portable media players market was worth USD 22.25 Billion in 2021. It is projected to grow at a 4.3% CAGR from 2022-2030.
The portable media player is becoming more popular because they are a fantastic option to listen to music and movies, and other forms of media while traveling. There’s a broad selection of portable players in the marketplace, ranging from essential MP3 players to more advanced devices that can play video and other types of media.
One of the most appealing aspects of portable media players is that they provide an abundance of freedom in how and where you can play your media. You can, for instance, enjoy music when exercising or watch an episode during breaks during lunch. You can also bring the portable player on your travels to listen to your preferred media wherever you are. Another benefit of portable MP3 players is that they’re typically highly cost-effective.
Over the last decade, the portable media players market has witnessed several significant changes. First, the iPod was launched in 2001, revolutionizing how people listen to music. Since then, the market for portable media players has been dominated by Apple through its iPod range of products. In recent years it has seen a drop in sales of the iPod as consumers have begun to use smartphones as their primary music players. This has resulted in Apple’s market share loss and the possibility that other businesses could join the market of portable media players.
Over the last year, the need for portable media players market has seen several new players, including those from Google Chromecast, Microsoft Zune, and Amazon Fire TV. They have managed to take a substantial part of the overall market. The market for portable media players is becoming highly competitive, with numerous players providing various options. The demand for portable media player is predicted to grow shortly because more people are using their phones to listen to music or watch videos. The growth will occur due to the growing popularity of streaming services like Spotify or Netflix.
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Portable Media Players Market Report Scope and Segmentation
|UNIT||Value (USD Million/Billion)|
|BY REGION||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
Portable Media Players Market Growth to Soar in Coming Years with highest share in Portable Music Player Market:
The Portable Media Players market is expanding rapidly as more and more people use these devices to play music, watch films and play games. This increase is caused by the growing popularity of high-end mobile media players, the declining prices of these devices, and the increasing popularity of portable media player applications. There’s a broad selection of portable media player available on the market, ranging from primary devices that can only play music to advanced devices that play games, movies, and others.
When you’re out and about, you need an audio player to keep up with your needs. You want something light, portable, and with extended battery longevity. You also want a player with a giant screen to allow you to enjoy your favorite TV shows, films as well as music videos. This is why you require a portable media player with screen.
With a portable media player with screen, you can carry your entertainment wherever you travel. If you’re on long journeys in the car or even a trip on the plane, it’s possible to pop in a film or TV show to watch it on a vast and clear screen. When you’re done watching, remove the player until you’re ready again.
Portable music players is likely to have the largest market share over the forecast timeframe because of the growing in the demand for Bluetooth or Wi-Fi enabled audio media players by customers. Leading market players are creating affordable and high-end portable music players with cutting-edge capabilities.
- The most significant development within the PMP market is the increasing popularity of Portable Video Player. PMP marketplace is the growing popularity of streaming video. Almost 1/3 of PMP users admit to watching online videos on their devices. This is a rise from a few years back when online video was virtually non-existent on PMPs.
- The increase in online video is fueled by various factors, such as the growing access to broadband Internet connections and the rising popularity of video-sharing websites like YouTube. As more and more people are comfortable with watching online video and have become more open to streaming it onto their mobile media players, too.
- Another reason behind the increase of Portable Media Players Market is falling costs in flash-based memory. Flash memory prices have been steadily declining over the past several years, making it much more affordable for manufacturers to incorporate greater storage capacities within their products.
The Portable Media Player market industry is facing some serious challenges.
The Portable Media Players market is in danger in many areas. First, the conventional PMP product line is affected by smartphones’ rapid growth. Many people are using their smartphones as their primary music player, and consequently, this PMP market has decreased significantly in the past few years. Additionally, it is also true that the Portable Media Players market is getting challenged by the rising stream music service, such as Spotify or Apple Music.
These services provide a more extensive and convenient service than the traditional PMPs, and, as a result, many users are opting to utilize these services instead. In addition, this PMP market is getting a severe blow from the rise in dedicated music devices, such as the iPod touch, which Apple makes. These devices provide a more focused and devoted listening experience than conventional PMPs, and, as such more consumers are using these devices instead.
All these issues that are affecting PMPs are in a state of flux. The portable Media Players market is in the form of tremendous pressure. To succeed and prosper in this marketplace, PMP manufacturers must discover ways to distinguish their products from their competitors.
PMP Market to See Major Growth as Key Players Expand Their Product Lines:
The portable media player market is highly competitive, with a large number of vendors offering a wide range of products. Some of the key players in the market include Apple, Inc., Sony Corporation, Samsung Electronics Co., Ltd., and Microsoft Corporation. The portable media player market is expected to continue to grow in the coming years, with new products and features being introduced by the key players.
- Apple Inc.
- Creative Technology Ltd.
- SanDisk Corporation
- Microsoft Corporation
- Koninklijke Philips N.V.
- Sony Corporation
- Coby Electronics Corporation
PMP Market Segments:
By Media type:
By storage media:
- Flash-Based Players
- Hard Drive-Based Players
- Mp3 CD/DVD Players
- Networked Audio Players
- USB Host/Memory Card Audio Players
By distribution channel:
- Hypermarkets and Supermarkets
- Electronic Stores
Portable Media Players market regional analysis:
The global Portable Media Players market is divided into four regions: North America, Europe, Asia-Pacific, and the rest of the World. North America is the largest market for Portable Media Players, followed by Europe. The US is the biggest consumer market in North America, accounting for more than half of the total demand.
The US houses several of the most prominent firms in the industry, like Apple, Microsoft, and Samsung. Asia-Pacific is the most rapidly growing region of Portable Media Players. It is predicted to grow significantly shortly due to the increasing demand from countries like China, India, and Japan.
The rest of the World includes the Middle East & Africa, Latin America, the CIS, and Eastern Europe. These regions are predicted to experience a slow increase within the Portable Media Player market due to the low-income levels in these regions and the and the lack of awareness about the products.
- North America
Rest of Europe
Rest of Asia-Pacific
- Latin America
Rest of Latin America
- Rest of world
Portable Media Players: The Top Trends to Watch:
One of the significant developments is the rising popularity of music streaming platforms like Spotify and Apple Music. Many users are opting for these services, which provide an enormous selection of music to be downloaded on demand. This positively impacts the portable media players market as consumers will more often make use of devices that can be used to stream their music while traveling.
The digital music player market is higher than for videos. In addition, introducing new features like audio recording has increased the demand for audio players. The growing need to listen when exercising, traveling, and working is predicted to increase demand for this category.
Another major trend is the growing utilization of handheld media players to play games. These players are being used to play a range of games on mobile devices and driving market growth. In addition, the growing popularization of VR is a factor in the market for portable media players. These devices can be used to play virtual reality videos and are providing an increase to the market. The main drivers of the need for portable media players are:
- The growing popularity of streaming.
- The rising utilization of handheld media players to play games.
- The growing popularity of VR.
These trends will likely continue to propel the portable media players market growth during the next few years.
Portable Media Players: The Ultimate Guide to Porter’s Five Forces Analysis:
The portable Media Players market is very competitive and has numerous players. The most important thing to succeed in this industry is to have a clear grasp of the forces at play and devise a strategy that considers these forces. This report offers Porter’s Five Forces analysis of the Portable Media Players market.
- The first factor is the threat of new players- It is essential to recognize that the Portable Media Players market is a highly competitive market that has many players. The most important thing to succeed within this marketplace is to have a thorough knowledge of the forces in play and devise a strategy that considers these forces.
- The second factor concerns the risk of replacement products- Numerous items can serve to replace Portable Media Players. They include MP3 players, CD players as well as DVD players. The most important thing to succeed in this industry is to create a product with a distinct value proposition that is not easily duplicated by other products.
- The third factor is the ability to bargain for purchasers- It is important to note that the Portable Media Players market is highly competitive with many players. The most effective way to succeed in this marketplace is to create a product with an unbeatable value proposition that other products can’t easily duplicate.
- The fourth factor is the power of bargaining for suppliers- It is important to note that the Portable Media Players market is highly competitive with numerous players. The most crucial factor in succeeding in this marketplace is to develop an item with a unique value proposition that is not easily duplicated by other products.
- The fifth factor is the risk of competitive rivalry.- It is true that the Portable Media Players market is very competitive and has numerous players. The most important thing to succeed in this industry is to clearly grasp the forces at play and create a plan that considers these forces.
In the end, it is clear that the Portable Media Players market is highly competitive and has numerous players. The secret to success in this industry is a thorough grasp of the forces in play and devising a strategy that considers these forces.
MWR’s research methodology is based on extensive use of secondary and primary data sources. The research involves the analysis of various aspects impacting the industry, including the policies of the government, the competitive landscape, the market environment and historical data, as well as current developments in the market technological innovation, emerging technologies, and the advancement of technology in related industries, and potential market risks as well as market barriers and issues.
Market Size Estimation
Bottom-up and top-down approaches are employed to verify the size of the global product market and to estimate the size of the Portable Media Players Market for companies’ regions, regions segment as well as product segments and applications (end users). The market estimates are built on the product’s retail price (excluding discounts offered by the distributor, manufacturer, wholesaler, trader, or).
Partially splits, market shares and breakdown of product segments are calculated based on the weights allocated to each segment based on their usage rate and average sale price. The regional splits of the total product market and sub-segments are determined by the per cent of adoption or use of the particular product within the specific region or country.
Top key players of the Portable Media Players Market is determined through secondary data, and the market revenue is determined by secondary and primary approach. Secondary research comprised the study of financial and annual reports of the largest companies. In contrast, primary research involved extensive interviews with opinion makers and experts in the industry like experienced front-line employees, directors, CEOs, and marketing managers.
The market share, percentage splits and Growth Rate, as well as the market structure of the product, are calculated from secondary sources and then verified by primary sources. All potential factors that affect the markets are verified by conducting primary analysis, and then analyzed to obtain the final qualitative and quantitative results.
Market Breakdown, Data and Triangulation
After completing market engineering, including calculations of market statistics, size estimations, forecasting of market breakdown, and data triangulation, a lot of analysis are then conducted to collect details and to confirm the numbers to be verified.
Throughout the entire method of market engineering, top-down and bottom-up methods are were widely used, together with a variety of triangulation techniques for market estimation and forecasting of market trends for the entire market segment and sub-segments . A thorough analysis of quantitative data is also carried out using all the data gathered during the entire market engineering process to present important information throughout the PMP Market research.
Secondary sources include annual reports, press releases, non-profit organizations and industry associations, government agencies, customs information, and others. This study focuses on extensive use of secondary sources, directories, databases, and directories like Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones and Company) and trading ECONOMICS and News Network, Statista, Federal Reserve Economic Data, annual reports, BIS Statistics, ICIS and company house documents CAS (American Chemical Society) and investor presentations along with SEC filings of corporations.
Secondary research are utilized to discover and gather details that could be used for a thorough technological, market-oriented and commercial analysis of the product market. It also helps collecting necessary information on the most prominent companies, market classification and segmentation by market trends from the lowest level, and critical technological and market developments.
For the research process, different sources from both the demand and supply sides are being interviewed to collect quantitative and qualitative information. The primary sources on the supply side comprise companies (and their rivals) and opinion leaders, experts from the industry and research institutes, distributors, traders and dealers, raw material suppliers and producers, etc.
The primary sources for demand-side information are industry experts, such as business leaders, sales and marketing directors, directors of innovation and technology supply chain executives, the market (product buyers) and top executives from a variety of key organizations and companies operating globally.
The primary studies are then conducted to find segments, types of segmentation, price ranges, application of the product important company, raw materials supply and demand downstream as well as the status of the industry and its forecast, and the fundamental market dynamics, such as risk factors, influence factors and opportunities obstacles to market entry, trends in the industry, and the strategies of key players.
COVID-19 impact Analysis
To understand the impact of COVID, we must understand the supply chain of the industry and the value chain. By analyzing the supply chain, we understand the bottlenecks affecting the industry’s growth. And by analyzing the value chain, we understand what value each component adds to the entire industry. We then try to understand the COVID impact has on the industry by trying to find answers to the following questions:
- How many jobs have been lost?
- How many people have died due to COVID?
- How did the Government respond, and what measures Government has taken to revive a particular industry?
- How companies have responded to COVID?
- What growth rate companies are expecting?
We also analyze their annual reports and press releases to understand their strategies post COVID. Then we move towards the primary research part and contact government officials and industry experts such as CEOs, COOs, Directors, VPs, Directors and Managers to understand what impact COVID has had on their businesses and what they are doing to cope with it.
We also try to understand their views regarding other financial aspects, such as recovery and obstacles in achieving pre-COVID growth and when they expect to achieve it.
Finally, after gathering the info from secondary and primary research, we try to form a model through which we gauge the COVID impact on a particular industry. ( Portable Media Player Market)
Each market is unique and has distinct features and risks that affect it in different ways. We try to discover patterns and commonalities in order to discover the real trends. Therefore, we use customized forecasting models that employ an amalgamation of traditional methods for forecasting time series modified to take into account the impact of current events that could affect the future and current prospects on the financial market.
The techniques we employ to forecast include a combination with regression analysis as well as exponential smoothing to align our analysis of predictive power with current trends and quickly shift business cycles. In the case of seasonal markets We employ hybrid forecasting techniques that incorporate spectral analysis in conjunction with the decomposition method of forecasting.