Video Player Market Growth & Trends
The global video player market size is expected to reach USD 178.26 million by 2028, registering a CAGR of -12.6% during the forecast period, according to a new report by Grand View Research, Inc. The increasing number of other channels of entertainment such as OTT (over-the-top) platforms, and streaming websites, in developed regions, are the major restraining factors for the video player market growth.
Video Player Market Segmentation
Grand View Research has segmented the global video player market based on the type, distribution channel, and region:
Based on the Type Insights, the market is segmented into 1080P Blu-ray Players and DVD Players.
- 1080P Blu-ray player type segment contributed more than 70.0% revenue share in the global video player market during 2021, due to its increasing demand for DVD players. Blu-ray discs used in Blu-ray players have better features as compared to DVDs, such as high capacity, re-writable, high speed of data transfer, scratch resistance, high picture quality, hardware compatibility, and relatively long life. Thus all these factors may drive the sales of 1080P Blu-ray players over DVD players in coming years. Furthermore, the growing demand for 1080P Blu-ray players from developing regions may further propel the growth of this segment, during the forecast period.
- The DVD player type segment is also likely to showcase lower growth in the market. The demand for this DVD player, used for home entertainment purposes, is augmenting from the emerging economies such as China, and India, owing to its lower cost as compared to Blu-ray players.
Based on the Distribution Channel Insights, the market is segmented into Online and Offline.
- Offline distribution channel segment contributed to the highest revenue share of more than 80.0%in the global market during 2021. The segment includes specialty stores, hypermarket, supermarket, independent retail stores; etc. Design of the organized retail sector has guaranteed better visibility of the consumer electronic products. Moreover, growing organized retail sector in emerging economies such as China, and Japan may further enrich the demand for video player during the forecast period.
- The online segment is expected to register a 10.8% CAGR from 2022 to 2028. This can be credited to the growing penetration of the internet in developing countries. Leading video player manufacturers are tying up with online retailers having an objective to reach out to the new buyer's base.
Video Player Regional Outlook
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East and Africa (MEA)
Browse through Grand View Research's Electronic & Electrical Industry Research Reports.
- Traditional TV & Home Video Market - The global traditional TV & home video market size was valued at USD 421.2 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 2.1% from 2022 to 2028.
- Home Entertainment Devices Market - The global home entertainment devices market size was valued at USD 225.0 billion in 2018 and is expected to grow at a compound annual growth rate (CAGR) of 6.3% from 2019 to 2025.
Key Companies Profile & Market Share Insights
Key players are focusing on introducing new advanced products to sustain in this market with a competitive pricing strategy. Furthermore, key players are merging and collaborating to increase their product portfolio along with expansions in the market.
Some of the prominent players operating in the global video player market include,
- Samsung Electronics Co. Ltd.
- Sony Corporation
- LG Electronics Inc.
- Toshiba Corporation
- Philips
Order a free sample PDF of the Video Player Market Intelligence Study, published by Grand View Research.
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