Video Player Market size is expected to reach USD 178.26 million by 2028

 Video Player Industry Overview

The global video player market size was valued at USD 458.60 million in 2021 and is expected to register a CAGR of -12.6% from 2022 to 2028.

 

This can be attributed to the increasing inclination of the consumers for streaming video website over video players in developed region such as North America. The cost of Blu-ray players has decreased considerably in the last few years. The existence of high competition in the market and prompt technological advancements in Blu-ray technology has resulted in the price drop. Also, the entrainment and media industry has gone under rapid makeover during the last decade. Advanced video/audio systems such as Blu-ray players, are achieving massive adoption with latest advancements being done in the chip and display technology. Mainly, there is strong need in the entertainment world to increase the quality of the content. It is also bringing major developments in the electronic devices segment.

 

Gather more insights about the market drivers, restrains and growth of the Global Video Player Market

 

Furthermore, the persistent combination of internet technologies and IT with the entertainment and media systems may generate growth opportunities in the video player market. But, with the growing adoption of the online streaming channel for recreation and media purposes, the video player market is experiencing a decrease in sales, which is a main restraining factor for the market.

 

Rising investment by key players in the latest technologies to launch innovative products is further expected to increase the industry sales. However, the rise in popularity of other mediums of entertainment such as streaming websites, OTT (over-the-top) platforms, and premium subscription television (Pay TV) is the major restraining factor for the video player market growth, during the forecast period.

 

The penetration of video players in households has been decreasing continuously thereby hampering the market demand. The behaviors of consumers towards home entertainment have been changing drastically and have shifted towards other streaming services. This resulted in the availability of a minor number of people purchasing packaged media and thus resulting in a decline in the video player market. Moreover, the growing number of customers purchasing materials in the form of digital copies and rising services for streaming is further declining the sales of video players.

 

Browse through Grand View Research's Electronic & Electrical Industry Research Reports

  • White Noise Machine Market: The global white noise machine market size product type was valued at USD 1,389.1 million in 2022 and is expected to register a CAGR of 6.2% from 2023 to 2030. 
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Key Companies Profile

Some of the prominent companies in the global video player market include:

  • Samsung Electronics Co. Ltd.
  • Sony Corporation
  • LG Electronics Inc.
  • Toshiba Corporation
  • Philips

 

Order a free sample PDF of Video Player Market Intelligence Study, published by Grand View Research. 

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