LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global Blu-ray media and devices market is expected to reach USD 19.84 billion by 2020, growing at a CAGR of 3.17% during the forecast period.
This research report titled ‘Global Blu-ray Media and Devices Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
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Based on media platform, the report categorizes the global Blu-ray media and devices market into three segments. They are:
- Online rental
- Offline rental
Global Blu-ray media market segmentation by digital media
The digital segment makes a considerable impact on the global Blu-ray media market, and it will continue its influence over the forecast period. An increasing number of consumers are adopting online services, which fosters the growth of the segment. Online rental services refer to the segment where consumers get the Blu-ray media through online subscriptions, and EST, among others. The segment will be the fastest growing segment.
“A significant factor influencing the growing Blu-ray market is the increasing popularity of online Blu-ray rental services. Multiple modes of renting, which includes streaming or downloading a movie online has propelled the segment's growth,” says Soumya Mutsuddi, one of the lead analyst at Technavio, specializing in research on media and entertainment services.
The report further states that the increase in rentals of digital film has barely made up for the continually increasing losses incurred from sales and rentals of physical discs. The declining sales and rental of physical discs are encouraging studios to invest in digital media.
Global Blu-ray media market segmentation by retail
The retail segment represents the sales of Blu-ray Discs. The digital media has placed vendors in crises as they try to figure out ways to recoup lost income on the company's core competency, which will likely be obsolete over the next 15 years.
The major vendors like Blockbuster are out of business as digital media continues to hinder the physical entertainment market severely. The home-entertainment market is in the process of transformation, as the Blu-ray content is delivered through web-enabled modems and set-top boxes.
“One of the major factors influencing the growth is the emergence of e-commerce. An increasing number of consumers are buying Blu-ray Discs online, and the flexible return policy has only increased the credibility of these sites,” says Soumya.
Global Blu-ray media market segmentation by offline rentals
As of 2015, global Blu-ray media market revenue through offline rental was USD 1.97 billion and is expected to drop to USD 1 billion by 2020. The market is rapidly declining as consumers' preference is changing toward the convenience offered by digital media. The segment had been falling before Blu-ray media entered the mainstream market of home entertainment as consumer preferred online content to physical copies.
One of the main factors hindering growth is the increasing number of people that are discontinuing their movie subscription services as streaming services such as Netflix and Hulu gained popularity. Key vendors in the segment like Blockbuster and Rogers have closed down their stores, due to which, a large segment of the population that are not tech-savvy have no access to Blu-ray media.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Moser Baer
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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