This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.
Portable Media Player Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
GET A FREE SAMPLE
Report Overview
The global portable media player products market was valued at USD 54.0 billion in 2022 and is projected to expand at a CAGR of 5.3% from 2023 to 2030. The growing demand for portable media players is due to the increasing adoption of these products for entertainment and educational purposes. The increasing demand for portable media players from the education sector is a key factor driving the market growth. The incorporation of interactive games, animations, and videos in educational courses is a major factor boosting the demand for portable media players. In addition, the demand for convenient and portable media players is increasing due to the rise in disposable income, especially in developing countries.
Furthermore, the increasing trend of digitalization is driving the demand for portable media players. The rapid growth in the number of internet users has led to an increase in the demand for digital content, which is further propelling the growth of the market. Additionally, the demand for high-definition video is increasing due to the presence of high-definition displays, which is expected to drive the demand for portable media players.
The increasing prevalence of streaming services such as Netflix, Amazon Prime, and Hulu is negatively impacting the market growth of portable media players. Furthermore, the rising competition from online streaming services and the increasing popularity of smartphones are further hampering the growth of the market. Moreover, the increasing prevalence of piracy is also hindering the growth of the market.
However, the emergence of new technologies such as augmented reality (AR) and virtual reality (VR) is expected to create numerous opportunities for the market. Furthermore, the growing popularity of portable media players with advanced features such as voice control, motion sensing, and touch screens are expected to boost the market growth. Additionally, the increasing demand for portable media players from the gaming sector is also anticipated to fuel the market growth.
Product Insights
The portable media players segment is expected to register the fastest CAGR of 8.1% during the forecast period. Increase in the demand of portable media players among consumers due to their mobility is creating a positive impact on the market. According to an article published by the University of Birmingham, in December 2019, the share of portable media players in the global market was estimated to be around 25%. Portable media players offer a wide range of features such as audio and video playback, web browsing, and video gaming. Moreover, the emergence of various advanced portable media players with features such as voice commands, streaming media, and wireless connectivity is expected to fuel the growth of the market.
The portable speakers segment is anticipated to register significant growth in the market during the forecast period. The demand for portable speakers is increasing owing to their convenience, portability, and durability. Furthermore, advancement in technology such as wireless streaming and Bluetooth connectivity is resulting in the increased use of portable speakers. According to an article published in Statista, in June 2019, the global portable speaker market was valued at USD 4.6 billion. The growing demand for wireless speakers, rise in trend of entertainment on-the-go, and the increasing use of smartphones are some of the key factors driving the growth of the market.
Distribution Channel Insights
The offline segment held the largest share of the global portable media player products market in 2022. This is mainly attributed to the high penetration of offline retail stores across the globe. Offline retail stores provide a variety of portable media player products, such as MP3 players, digital audio players, portable media players for phones and tablets, etc. Furthermore, customers prefer to buy products from physical stores, as they can touch and feel the products and can get expert advice from shopkeepers.
The online segment is expected to expand at a significant CAGR of 9.9% during the forecast period. The growth of the segment is attributed to the increasing popularity of online shopping among consumers. The availability of a wide range of products and attractive discounts offered by online stores are some of the major factors driving the growth of the segment. Additionally, the growing number of online stores, such as Amazon, Flipkart, and others, has further increased the demand for portable media player products.
Type Insights
The hard drive segment accounted for the largest revenue share of 50.1% in the year 2022. The increasing popularity of hard drive portable media players is driven by their large storage capacity, which allows users to store a large quantity of media files. Portable media players with hard drives are available in a broad range of capacities, which can range from 8 GB to 1 TB. This is expected to drive the demand for hard drive players over the forecast period.
The flash memory segment is anticipated to expand at the highest CAGR of 8.7% over the forecast period. This is owing to their lightweight and compact designs, which make them highly portable. Furthermore, their removable storage capacity allows users to transfer media files from one device to another. This is likely to drive the demand for flash memory players over the forecast period.
Regional Insights
Asia Pacific is expected to be the largest market for portable media players and is expected to grow at a significant pace over the forecast period. Increasing demand for portable gaming devices with advanced features among consumers is expected to drive the market in this region. Furthermore, increasing disposable incomes and the presence of prominent players in the region are also contributing to the growth of the market. For instance, in April 2021, Sony launched its new portable gaming device, the PlayStation Vita, in the Japanese market.
Europe is expected to witness the second-fastest growth in the coming years. The increasing demand for portable media players among consumers in the region is expected to drive the market. Furthermore, the presence of prominent players such as Apple and Philips in the region is also expected to contribute to the growth of the market. For instance, in April 2021, Apple launched its new iPod Touch with advanced features in the European market.
Financial Projections
In this part of the portable media player products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your portable media player products. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenue for a portable media player products business comes from the sale of the products. This may include hardware and accessories, as well as digital content such as music, movies, and ebooks. Other possible sources of revenue may include promotional offers, subscription services, and advertising.
Projecting Expenses
In this section, all the regular expenses related to keeping the portable media player products business running will be described. The list of operating expenses includes product development, staffing, advertising, rent, utilities, insurance policies, and others.
Key companies & market share insights
Some of the key companies operating in the portable media player market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In June 2022, Apple Inc. launched the iPod Touch, a pocket-sized media player with a 4-inch Retina display.
– In August 2022, Sony launched the ZX1 Walkman, a media player with a 6-inch OLED display and high-fidelity sound.
– In October 2022, Microsoft launched the Surface Go Portable Media Player, which features a 7-inch touchscreen display and integrated speakers.
Some of the prominent players in the portable media player market include:
– Apple Inc.
– Microsoft Corporation
– Sony Corporation
– Philips
– Panasonic Corporation
– Creative Technology Ltd.
– Samsung Electronics
– Toshiba Corporation
– LG Electronics
– SanDisk Corporation
Global Portable Media Player Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global portable media player products market based on product, distribution channel, and region:
1. Product Outlook (Revenue, USD Million, 2017 – 2030)
– Audio Players
– Video Players
– Portable Media Players
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Offline
– Online
3. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What is the Potential of Product Innovation?
[A]: Product innovation is a major factor driving the portable media player market. Portable media players are equipped with advanced features such as high-definition audio and video, Bluetooth, Wi-Fi, and other features like gaming, e-book reader, and voice command. Moreover, product innovations such as the introduction of 5G support, increased storage capacity, and improved battery life are expected to drive the market growth.
[Q]: Who are the Key Players in the Portable Media Player Market?
[A]: Key players in the portable media player market include Apple Inc., Sony Corporation, Panasonic Corporation, Samsung Electronics Co. Ltd., Microsoft Corporation, and LG Electronics.
[Q]: Which Region Offers the Largest Opportunity for Sales of Portable Media Players?
[A]: North America is expected to be the most lucrative market for portable media players with an absolute dollar opportunity of $4.1 billion (USD). The region is expected to witness substantial growth due to the presence of leading players and high technology adoption.
[Q]: What are the factors driving the portable media player market?
[A]: Key factors driving the portable media player market include the increasing adoption of digital media content, increasing demand for multi-functional devices, and growing trend of mobility. Additionally, growth in internet penetration and rising disposable income is expected to fuel the growth of the market.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
is is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
To request a free sample copy of this report, please complete the form below.
We value your investment and offer free customization with every report to fulfil your exact research needs.
