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Alternate Streaming Media Devices and OTT Services will Challenge Blu-ray Technology; 4K/HDR are Growth Drivers
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While physical discs remain a key revenue generator in the home entertainment business, the growing revenue from digital services and the rise of download and over-the-top (OTT) streaming services such as iTunes and Netflix have negatively impacted physical disc sales in the last 4-5 years. Therefore, an overall gradual decline in disc sales through the forecast period is expected. Unit shipments for the global Blu-ray players market are expected to decrease from 72.1 million in 2017 to 68.0 million in 2023, at a compound annual growth rate (CAGR) of -1.0%. Unit shipments for the global Blu-ray media market are expected to decrease from 595.0 million in 2017 to 516.0 million in 2023, at a compound annual growth rate (CAGR) of -2.3%. The rapid growth in subscribers of OTT services, and on-demand 4K and 1080p content streamed directly from the cloud, has led to the rapid rise of services like Netflix, Amazon, HBO, and Hulu. Simultaneously, the intense bandwidth requirements of 4K content formats are unable to replicate the smooth and seamless playback of 4K UHD titles. Therefore, physical Blu-ray discs are still considered one of the best options for enjoying HD content that also supports HDR and Dolby surround sound. The majority of consumers, especially in the developed markets, are increasingly turning to UHD Blu-ray players to access movie and TV show content. To meet this demand, over 250 UHD titles were released in 2017 alone. Geographical Segmentation: The global market has been segmented into North America, Latin America (NALA), Asia-Pacific (APAC), and Europe, the Middle East, and Africa (EMEA).
The base year of the research is 2017, with forecasts running up to 2023. The research highlights key trends impacting the global Blu-ray media and players market and outlines future implications.
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Global Media and Entertainment Video Transcoders Market, Forecast to 2024
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