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Studies: MP3 Player Ownership Highest Among Youth; Accessories Market Hits $2 Billion
Tuesday, August 1st, 2006 at 3:00 PM - by Brad Cook
A pair of studies released on Wednesday by Research and Markets showed that MP3 player ownership in America is highest among 18-to-24-year-olds, and that the market for MP3 player accessories has grown from US$50 million in 2001 to $2 billion this year.
"MP3 Players and Other Portable Audio Players in the United States" report shows that MP3 players now account for 88% of all portable audio product sales in the U.S., up from just 5% in 2001. Unsurprisingly, 18-to-24-year-olds have driven that growth, with MP3 player ownership declining with increasing age. Portable CD player ownership is more constant among all U.S. adults between the ages of 18 and 54, while youngest adults account for the fewest portable cassette players in use.
The report, which sells for €2,495 (US$3,192), covers six years and sales data in depth and provides a five-year forecast of U.S. retail sales. Consumer attitudes toward the various segments of the portable audio device market, broken down by demographics, are also covered.
"MP3 Player Accessories in the United States" examines that over 200 companies making iPod accessories, noting that "not all [of them] will survive the current growth surge" that has seen the market for MP3 player accessories in general grow dramatically since 2001. While retail competition is characterized as "fierce," 49% of those who own an MP3 player said that they bought their last one in a store, as opposed to 27% who made the purchase online.
The report, which also sells for €2,495 ($3,192), also shows that 15% of respondents to the consumer survey own an MP3 player, with 4% planning to buy one in the next six months. Those with incomes over $100,000 are more likely to own an MO3 player, with those who earn at least $75,000 more likely to possess an iPod.
The most popular MP3 player accessory is headphones, with 75% of those who have MP3 players mentioning them, while 49% own a car audio accessory and 48% have a case or sleeve or USB power adapter. Average spending on MP3 player accessories is $90, with men, those with incomes over $50,000, people who are married, and people over 35 all showing higher levels of average dollar layouts.
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