The recordable optical disc market, which was valued at approximately US$ 2.5 Bn in 2022, is calculated to see bearishness in the future years, as per the new report published by Future Market Insights (FMI)As per the report, Recordable Optical Disc Market is expected to decline at a CAGR of -3% over the forecast period (2022-2029) to reach an estimated market valuation of US$ 2 Bn by the end of 2029. as a general sense of obsoleteness looms large. The sluggishness is despite the reliance on visual forms for storage, according to FMI’s research.
According to the report, the emergence of prominent media-services providers, such as Spotify, Apple Music and TIDAL, started tugging on the popularity of recordable optical disc formats. Media service providers rewrote the rules of media consumption and the adoption rate of these media streaming services grew by leaps and bounds.
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‘Manufacture-On-Demand’ DVDs and Blu-Ray Discs- Marking a New Milestone for Growth
As per the report, the trend of ‘manufactured-on-demand’ DVDs and blu-rays of popular TV shows and movies is favouring the market players. For instance, Amazon exclusively sells a series of ‘manufactured-on-demand’ DVDs and blu-rays of popular Nickelodeon shows and movies.
Moreover, popular media-services providers, such as Netflix, have also started bringing back popular TV series and movies in DVDs and blu-ray formats to treat their loyal subscribers, which in turn has resulted in a promising comeback for DVDs and Blu-ray discs.
The report opines that blu-ray disc will continue being the top-seller, with revenues estimated to approach US$ 2 Bn in 2022. Optimum storage capacities with ‘best-in-class’ features remain two of the key selling points of blu-ray discs. Sales of the recordable optical disc via online channels will continue to put offline channels in the shade.
Professional Use of Recordable Optical Disc to Show Positive Leaps,
As per the report, media houses continue to rely on recordable optical disc formats for local storage, followed by software and IT ecosystems. Key players in the recordable optical disc market are focusing on incremental innovations that would further help them boost their sustenance in the market.
Apart from product features, brands are also focusing on nourishing the longevity of their recordable optical disc offerings via reflective layers. In addition, strategic partnerships seem the best way forward for the brands to sustain with considerable revenue growth, states the research study.
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Key Segments of Recordable Optical Disc Industry Survey
Recordable Optical Disc Market by Product Type:
- Compact Discs (CD)
- Digital Versatile Discs (DVD)
- Blu-ray Disc
Recordable Optical Disc Market by Sales Channel:
- Online Sales of Recordable Optical Discs
- Offline Sales of Recordable Optical Discs
- Sales of Recordable Optical Discs by Distributors
- Sales of Recordable Optical Discs by Resellers
- Direct Sales of Sales of Recordable Optical Discs
Recordable Optical Disc Market by End Use:
- Recordable Optical Discs for Consumers
- Recordable Optical Discs for Professionals
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