Portable Media Player Global Market Report 2024

The portable media player market size has grown strongly in recent years. It will grow from $24.89 billion in 2023 to $26.86 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historical period can be attributed to various factors, including pricing and accessibility, customization and user experience, the rise of the MP3 format, the impact of Apple's iPod, and the shift from physical media.

The portable media player market size is expected to see strong growth in the next few years. It will grow to $35.99 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The anticipated growth in the forecast period for the portable media player market can be ascribed to ongoing innovation in features, intensified market competition leading to strategic pricing strategies, a heightened focus on customization and improved user experience, a trend towards compact and lightweight designs, and a noticeable shift in consumer preferences.

The growth in the portable media player market is expected to be propelled by the increasing purchasing power of consumers, leading to higher spending on entertainment products. The correlation between enhanced purchasing power and the consumption of entertainment products, such as portable media players, is evident as people tend to invest in various entertainment devices such as TVs, DVDs, and portable media players. For instance, the US Bureau of Economic Analysis reported an increase in consumer spending from $13,818 in January 2022 to $13,916 in July 2022 in the United States. This rise in purchasing power has contributed to increased spending on entertainment products, driving the growth of the portable media player market.

The expansion of the e-commerce industry is anticipated to play a significant role in the growth of the portable media player market. The thriving e-commerce sector, involving online transactions for goods and services, provides a convenient platform for the sale of portable media players. This online marketplace not only offers a diverse range of media playback devices but also ensures easy accessibility for consumers to explore and purchase these products. As of November 2023, retail e-commerce sales for the third quarter reached $284.1 billion in the United States, marking a 2.3% increase from the second quarter. With e-commerce sales accounting for 15.6% of total sales, the expanding online retail space is driving the growth of the portable media player market.

Technological advancements are a key trend gaining traction in the portable media player market. Major companies in the industry are actively developing new, technologically advanced products to enhance user experiences. An example of this trend is the introduction of the FiiO M17 portable desktop-class music player by FiiO, a China-based electronics company, in January 2022. The M17 employs dual audio channels, featuring a desktop-class 8-channel ES9038PRO flagship digital audio signal (DAC) for each left and right audio channel. This innovative design aims to deliver clear audio and an enhanced overall experience to users, offering extremely pure audio reproduction. Additionally, the device boasts a 225% increase in output power, reaching up to 3000mW per channel, coupled with a lower output impedance.

Major companies in the portable media player market are placing a greater emphasis on introducing high-quality portable music players to gain a competitive edge. These devices are compact electronic tools designed for on-the-go music playback, enabling users to store, manage, and play digital audio files. Sony Group Corporation, a Japan-based company, exemplified this strategy by launching its flagship Walkman NW-ZX707 portable music player in India in March 2023. This Walkman is equipped with a 5-inch display, operates on Android 12, and offers an impressive battery life of up to 25 hours. Additional features include a 720p TFT color display, USB Type-C charging, storage expansion support, and the use of edge-AI and Digital Sound Enhancement Engine (DSEE) Ultimate technology to upscale compressed digital music.

In June 2021, Boat, an India-based consumer electronics manufacturer, executed the acquisition of Tagg Digital for an undisclosed amount. This strategic move aimed to broaden Boat's product portfolio by incorporating various offerings from Tagg Digital, an India-based consumer devices company specializing in audio devices.

Major companies operating in the portable media player market report are LG Electronics Inc., Apple Inc., Samsung Electronics Co. Ltd., Microsoft Corporation, Dell Technologies Inc., Sony Corporation, Lenovo Group Limited, Haier Group Corporation, Toshiba Corporation, Philips Electronics N.V., SanDisk Corporation, PoGo! Products Ltd., Eros Digital Home Ltd., Insignia International Pvt. Ltd., PNY Technologies Inc., Creative Technology Ltd., Iriver Inc., Cowon Systems Inc., Korean Cowon Systems Inc., FiiO Electronics Technology Co., Archos S.A, Ematic Solutions, Coby Electronics Corporation, Pioneer Corporation, Questyle Audio Engineering, Teclast Electronics Co. Ltd., Sonicblue Inc., Shenzhen Shanling Digital Technology Development Co. Ltd.

North America was the largest region in the portable media player market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the portable media player market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the portable media player market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The main types of portable media player markets are audio, and video. Audio is the media players market refers to the devices used in multimedia applications such as for playing speech, music, and sound effects. Audio in the portable media players market refers to the audio or sound component of multimedia. The various Industries are flash-based players, hard drive-based players, Mp3 CD/DVD players, networked audio players, and USB host/memory card audio players. The various end users are hypermarkets and supermarkets, electronic stores, and online.

The portable media player market research report is one of a series of new reports that provides portable media player market statistics, including portable media player industry global market size, regional shares, competitors with a portable media player market share, detailed portable media player market segments, market trends and opportunities, and any further data you may need to thrive in the portable media player industry. This portable media player market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The portable media player market consists of sales of power management ICs, LDOs, power MOSFETS, analog switches, visible LEDs, ESD protection devices, capacitors, inductors, beads, resistors, thermistors, and ambient light sensors. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.