Portable Media Player Market Size, Global Industry Analysis Report, Regional Outlook, Trend, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI4938
Portable Media Player Market size will experience significant growth during the forecast timeline due to the availability of innovative features. These media players offer the benefits of high audio-video quality, high durability, large storage size, and portability. These are built on iOS and Android platforms, allowing users to download the music app by connecting to a Wi-Fi. These devices are also compatible with a range of music formats including FLAC, OGG, WAV, MP3, and ALAC that provides enhanced audio experience compared to the traditional smartphones. Also, the long battery life of up to 50 hours has resulted in their increased adoption among music enthusiasts.
Technological advancements, such as Bluetooth, NFC, and USD connectivity that have allowed connectivity to different smartphones, laptops, and smart TVs has transformed the market. These connectivity options allow consumers to easily transfer large amount of content to their devices through media transferring apps or USB storage devices. The integration of voice assistant feature into these portable devices has also contributed to the market growth.
The COVID-19 pandemic has positively impacted the market expansion. Wireless portable media player registered double-digit growth in 2020, led by their high level of convenience and suitability for usage both inside and outside the home. The lockdowns imposed owing to COVID-19 pandemic resulted in consumers spending most of their time at home in 2020. Streaming media players, such as Apple TV, Amazon, Netflix, Roku, and Hulu, has witnessed tremendous growth in several countries. The availability to stream movies from these digital platforms has driven the acceptance of portable media players among consumers.
The rise in disposable income and a high demand for entertainment and music in emerging economies, such as India, Brazil, Thailand, and Singapore, provide a significant growth opportunity to the portable media player market. In March 2020, Gamma Gaana Ltd., reported to gain over 225 million Monthly Active Users (MAUs) by the end of 2021. The availability of media players with preloaded songs is further encouraging music enthusiasts to adopt these systems.
The portable audio media player segment will hold the highest market share during the forecast time period on account of the rise in demand for Bluetooth or Wi-Fi-enabled audio media players among consumers. Leading market leaders are introducing affordable and high-quality portable music players integrated with advanced features.
The online distribution channel accounted for significant market share in 2020 impelled by increasing expansion of online retailers, such as Amazon.com, Flipkart, and eBay, offering a wide range of high-performance media players of several leading brands. These companies employ various marketing strategies, such as seasonal discounts and fast delivery, to boost their sales. They also enable easy return of defective products within a specified time frame to ensure customer satisfaction and product replacement on select items. The online distribution channel enables consumers to choose the best-suited product from a wide range of media players of different brands on a single portal.
North America portable media player market held considerable revenue share in 2020 propelled by the presence of several leading players, tech-savvy generation, and growing adoption of wireless audio devices among consumers. Also, the government support for the development of IoT-based technologies and wireless infrastructure is aiding in high growth of the market. The high disposable income and low consumer debt in the region have allowed increased spending on high-end electronics products integrated with smart technologies such as Bluetooth 5.0 and noise cancelling sound.
Key participants operating in the market include Apple Inc, Samsung Group, Creative Technology, SanDisk Corporation, Sony Corporation, Philips N.V, CinePals, and Coby Electronics Corporation. These companies are offering technologically advanced products that can connect to various smart devices.
This market research report on portable media player includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2017 to 2027 for the following segments:
Market, By Media Type
Market, By Distribution Channel
The above information has been provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- South Africa
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