Market Trends of Blu-ray Media and Devices Industry
This section covers the major market trends shaping the Blu-ray Media & Devices Market according to our research experts:
Blu-ray Media Solutions to Witness Steady Growth Rate
- The Blu-ray media solution segment significantly contributes to the Blu-ray Media and Devices Market. All the products having Blu-ray content are considered media solutions for the scope of this study. Technological advancements in Blu- ray devices, including streaming movies and TV shows from online service providers like Amazon, Netflix, and YouTube, fuel the dominance of blu-ray media solutions.
- Moreover, technological advancements in this technology have led to the creation of new formats, such as HEVC, which has led to a significant reduction in the size of blu-ray media content. These advancements have allowed to storage even more blu-ray content in the same disc and various other blu-ray media products.
- Owing to the decrease in prices of blu-ray media and devices, consumers across various regions with a low influence of digital technology are also expected to adopt this blu-ray media and devices as a primary mode for media consumption. Moreover, Movie and video game distributors also collaborate to acquire new customers for this technology. For instance, Sony Pictures Home Entertainment has released Blu-ray Disc movies Mastered in 4K and Optimized for 4K Ultra High Definition Televisions in May 2022. These Blu-ray Disc movies include the technologies to yield the greatest possible high-definition picture quality and will upscale to create a satisfying 4K experience.
- However with the increasing adoption of the online channel for media and recreation purposes, the market is witnessing a decrease in sales, which is a major restraining factor for the market growth.
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Asia Pacific is Expected to Witness Significant Growth
- The Asia-Pacific region is expected to witness the highest growth rate, owing to the increasing penetration of Blu-ray players in homes and other places. Moreover, growth in the disposable income of the population in this region is also expected to play a significant role in increasing the demand for Blu-ray media and devices in this region.
- The demand for Blu-ray disc-based games is also growing in this region due to the rise in e-sport gaming competitions. For example, The increasing number of e-sport gaming tournaments, including MK11(PS4), FIFA 20(PS4) open cup, FIFA 20(PS4) 1on 1 major cup, ESL Malaysia championship- call of duty mobile qualifier 2, Tekken 7 (PS4) 1on 1, StarCraft 2 open cup and others.
- Furthermore, an increasing number of media production houses releasing movies in Blu-ray format and the rapidly increasing adoption of High Definition televisions in the region are expected to drive the demand for high-quality media, which is expected to drive the need for Blu-ray devices during the forecast period.
- Moreover, the presence of significant like Sony, LG, Panasonic, Pioneer, and various others, has played a crucial role in the market development in this region. These companies are introducing devices that rely on Blu-ray discs and enable downloading videos. For instance, in November 2022, Philips Projection launched the Philips Screeneo U5, an Ultra Short Throw True 4K UHD Laser Projector that offers color accuracy and incredible contrast on max 150-inch screen space, with immersive 3D content from their Blu-ray player.
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