MarketResearchReports.Biz announces addition of new report “Multimedia Chipsets Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019” to its database
Albany, NY -- (SBWIRE) -- 07/29/2013 -- Multimedia chipsets deal with video processing and audio processing and are crucial for various electronic devices. These chipsets are highly popular and are at the heart of any electronic device because they not only help to reduce the cost but also offer powerful specifications that differentiate the devices from each other. The global multimedia chipset market is segmented on the basis of the end-product into five segments, namely digital TV, set-top box, DVD/ home media players, digital camera, and digital signal processor. The market can also be segmented on the basis of the functionality provided in audio, video, and graphics.
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The global market for multimedia chipsets is expected to show a steady growth during the forecasted period resulting into a multi-billion dollar market with substantial CAGR. Five years down the line, Asia is expected to be a market leader followed by North America because of the growing purchasing power of the population and their shift towards new multimedia technologies.
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Some of the key factors driving this market include inventions and developments of new multimedia technologies, the growing consumer base in Asia, insatiable appetite of consumers looking for a perfect display, marketing and hype created by innovative devices like tablets that are similar to paper quality display which encourages consumers to buy new multimedia devices, and technological advancement. One of the major restraints to the growth of this market is that it requires a high fixed cost to set up a production unit. The market players have to utilize many resources in research and development to stay ahead in the competition.
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