50 mln Flash-based music players will be sold in 2008
The worldwide compressed audio player market is booming, and is expected to reach nearly $58 bln in revenues by 2008, representing a CAGR of 20%. The worldwide portable flash player market exploded in 2003 and is expected to grow from 12.5 mln units in 2003 to over 50 mln units in 2008, fueled by falling flash memory costs and the availability of players at multiple storage capacities. Apple, which has been a portable jukebox market leader since introducing the iPod in late 2001 and iPod mini in early 2004, will see new competition in the portable jukebox player market during the forecast period from vendors offering devices based on 1.0in. and smaller hard drive form factors. The portable and home MP3 CD/MiniDisc player categories will grow only modestly during the forecast due to stagnating portable and home CD player markets, growing consumer awareness of and falling price points on portable flash and jukebox devices, and cannibalization by DVD players and DVRs of standalone home compressed audio players.