The Blu-ray is player which is digital optical disc data storage format. It was designed to supersede the previous technology such as DVD format and is also establishing itself the world-wide as a successor standard to DVD type discs. It also offers the users with many advantages such as comparison to normal DVDs owing to the high storage capabilities. It is also capable of storing the high-definition formats of 720p and 1080p and further it also supports the ultra high-definition video resolution of (2160p). Moreover, as per definition Blu-ray refers to the blue laser used for reading the disc, which allows information to be stored at a much greater density. The Blu-ray disc player is basically a device used for playing a Blu-ray disc. It can also support various other formats and types of discs namely, high fidelity pure audio, advanced video coding high definition, 3D and ultra HD. Out of which the ultra HD being the highest resolution format that supports 4K with 10-bit HDR.
According to study, “Global Blu Ray Players Market to reach USD 4.16 billion by 2026” the key companies operating in the global Blu ray players Market are Panasonic, Canon, Epson, BenQ, Hitachi, Casio, Sony, View Sonic, Acer, Dell
Based on type, market is segmented as aurora Blu-ray media player, deer Blu-ray player and aiseesoft Blu-ray player. Based on product type, Blu ray players market is segmented as software and hardware. Based on disc type, market is segmented as High Fidelity Pure Audio (HDPA), 3D, Advanced Video Coding High Definition (AVCHD) and ultra HD. Based on distribution channel, market is segmented as offline and online. In addition, based on application, market is segmented as entertainment and automotive.
The Blu ray players market is driven by increase in consumer preferences regarding superior audio and video effects, followed by high adoption in smart homes and rise in disposable income. However, high price associated with player may impact the market. Moreover, growth in desire for high performance music experience and rise in consumer preference towards exceptional audio-quality products are key opportunities for market. Furthermore, growth in gaming sector in developing countries is a major trend for market.
Based on geography, the North-American region holds major share in global Blu ray players market owing to growth in technological advancements and rise in demand for high end digital entertainment in the region. Whereas, the Asian-Pacific and European regions are expected to exhibit to exhibit highest growth rate due to rise in disposable income along with high population count over the forecast period. In upcoming years, it is projected that future of the global market will be bright as a result of rise in trend towards digital urbanization during the forecast period. The global Blu- ray players market is valued approximately at US $1.49 billion in 2018 and is estimated to grow with a healthy growth rate of more than 13.70% over the forecast period 2019 to 2026.
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Ankur Gupta, Head Marketing & Communications