Leading recordable optical disk developers are seeking strategic mergers and acquisitions in addition to investments in tech innovations to see sustained revenue growth through the pandemic
DUBAI, UAE / ACCESSWIRE / July 15, 2020 / The recordable optical disk market is expected to witness a near term growth spurt during the coronavirus pandemic. The covid-19 outbreak has dramatically changed operations as varied businesses seek to apply social distancing measures, by setting up remote working procedures. Associated changes in professional computerized operations will generate a short-term surge in the demand for recordable optical disks.
“The rising popularity of binary data has bolstered the adoption of optical discs. Innovations in computing technology has enabled rapid growth with the need for compact data storage tech, which is expected to generate large scale demand for recordable optical disks globally,” says the FMI analyst.
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Recordable Optical Disk – Primary Takeaways
- Blu-ray recordable optical disks are rapidly gaining traction, aided by superior storage capabilities.
- Media applications are a key source of revenue in the market, supported by extensive use of HD-DVD and Blu-Ray disks.
- North America, remains a leading market for recordable optical disks, bolstered by the presence of major market players.
Recordable Optical Disk – Growth Factors
- Concerns about data privacy in terms of cloud storage is sustaining demand for recordable optical disks.
- Strong consumer bias towards high definition media broadcasts sustains demand.
- High scope of optical storage in industry verticals with higher probability of duplicity in data aids market growth.
Recordable Optical Disk – Major Constraints
- High costs of raw materials are a key factor that hampers operations of the recordable optical disk market.
- Competition from cloud-based storage options is a major factor hindering optical disk applications.
The Projected Impact of Coronavirus
The coronavirus outbreak will have a short term, positive impact on the recordable optical disk market. While, disruption of production and raw material supplies are likely, changes to end user business models, and rising popularity of remote working processes will generate greater demand for recordable optical disks in the short term throughout the crisis period.
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The recordable optical disk market comprises players including but not limited to Falcon Technologies International LLC, RITEK Corporation, R. Image Corporation, CMC Magnetics, Princo Corp., and Singulus Technologies. Market players are primarily investing in tech improvements to stave off product obsolescence. For instance, Sony has launched a new petasite archive technology for its optical disk offerings.
More About the Study
The FMI study provides detailed insights on recordable optical disks. The market is broken down in terms of product type (CD, DVD, and Blu-Ray Disc), sales channel (online, offline, distributor, reseller, and direct sales), end use (consumer and professional), and storage (below 5GB, 5 -10 GB, and above 10 GB) across seven key regions (North America, Latin America, Europe, South Asia, East Asia, Oceania, and MEA).
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SOURCE: Future Market Insights
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