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Portable Music Player Market to Double by 2010
Thursday, March 29th, 2007 at 2:35 PM - by
The fastest growing segments of the electronics industry are the media and music players, and the market will have doubled from 2005 to 2010, according to the research firm iSuppli. IT World carried the story on Thursday.
"A major driving factor behind this growth is the fact that PMP/MP3 players take advantage of the Internet more than other consumer electronic devices, giving users the ability to quickly and easily sample, acquire and share media," said Chris Crotty, senior analyst for consumer electronics at iSuppli.
"Other reasons for the rapid market expansion include the expanding catalogue of available content and component cost reductions that are making the players more affordable for consumers."
iSuppli also predicted that the broadband music market will grow to US$5B in revenue by 2010, up from $1.6B in 2006. The technical challenges include better battery life and making the devices more robust and longer lasting. Also, stronger competition from media capable mobile phones will emerge as a challenge.
The report suggests that music enabled phones do not seem to be slowing down the sales of iPods. Analysts will be keeping a close eye on this transition if it does, in fact, occur.
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