Key driving factors identified in the recordable optical disc market include increasing consumer inclination towards recording HD broadcasts
Valley Cottage, NY -- (SBWIRE) -- 10/11/2018 -- Future Market Insights (FMI), delivers key insights on the global recordable optical disc market in its latest report titled, "Recordable Optical Disc Market: Global Industry Analysis and Opportunity Assessment 2015 - 2025". According to the report, the recordable optical disc market is expected to demonstrate a CAGR of -5.6% during the forecast period and reach 4,224 Mn units by 2025. Wide-ranging product types such as CD, DVD and Blu-Ray Disc are products that cater to large data storage demands across numerous industries thus generating a desirable market for recordable optical discs.
Optical discs market is segmented by end user industries/sectors/markets such as media industry, healthcare, educational institutes and others (banking, financial services and insurance (BFSI), manufacturing industries, telecom sector, IT and transportation sectors). Globally, demand for recordable optical discs is declining at a rapid rate; however, cutting-edge innovation along with increasing awareness about data security and storage are expected to boost the demand for advanced optical discs in the near future.
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According to an FMI analyst "Global demand for optical storage disc market is declining due to the rapid adoption of new technologies such as cloud storage, Internet of Things (IoT) and Video on Demand (VOD). However, globally, increasing demand for archival solutions and positive outlook for the media and entertainment industry is expected to create significant demand for recordable optical discs in the near future." The analyst added that major players in the recordable optical disc market are dedicated to invest into research and development (R&D) activities. This investment is majorly focused on product advancement that can be used for storing large amounts of data for longer durations. From a regional perspective, North America was the largest market for recordable optical disc, accounting for 41.4% market share in 2014. This region continues to dominate the market and the trend is expected to continue over the forecast period. Among countries, Japan and China are projected to play important roles due to the presence of key players. From end-user perspective, the media industry is projected to show a CAGR of -4.3% in terms of volume, during the forecast period. Increasing demand for archival solutions, the media and entertainment industry presents a positive market opportunity for the recordable optical discs.
Factors driving the recordable optical disc market are increasing consumer inclination towards recording HD broadcasts, growing demand for content protection and widening applications of the optical discs. However, stiff competition from other media storage devices and cloud-based storage services and high raw material costs restrain the growth of this market.
The global recordable optical disc market is segmented on the basis of region, product type and end-users. Product type includes CD, DVD and BD. CD is further sub-segmented into CD-R (audio type and data type) and CD-RW. DVD is sub-segmented into DVD-R and DVD-RW. DVD-R is further sub-segmented into DVR-R DL (DVD-R DL 2P, DVD-R DL IS) and DVD-R SL. On the basis of end-users, the market is segmented into media industry, healthcare, educational institutes and others (manufacturing industry, telecom, BFSI, etc.). Key regions covered in the report include North America, Latin America, Western Europe (EU5), Eastern Europe, APEJ, Japan and the Middle East & Africa.
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The report analyses the global recordable optical disc market in terms of value (US$ Mn) and volume (Mn Units) by region, product type and by end-user, delivering deep insights regarding market dynamics, value chain, competitive landscape, current trends, market estimations and forecast.
Key market participants covered in the report include Sony Corporation, Fujifilm Holdings Corporation, Taiyo Yuden Co., Ltd., Hitachi Maxell Ltd., Imation Corp., CMC Magnetics Corporation, RITEK Corporation, Moser Baer India Limited, Falcon Technologies International L.L.C. and Singulus Technologies.
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