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Recordable optical disc market may reach 4,224m units by ’25: Report
MUMBAI: The recordable optical disc market is expected to demonstrate a CAGR of -5.6 per cent during the forecast period and reach 4,224 Mn units by 2025. Wide-ranging product types such as CD, DVD and Blu-Ray Disc are products that cater to large data storage demands across numerous industries thus generating a desirable market for recordable optical discs.
This is according to Future Market Insights (FMI)’s latest report titled, “Recordable Optical Disc Market: Global Industry Analysis and Opportunity Assessment 2015 – 2025”.
Key market participants covered in the report include Sony Corporation, Fujifilm Holdings Corporation, Taiyo Yuden Co., Ltd., Hitachi Maxell Ltd., Imation Corp., CMC Magnetics Corporation, RITEK Corporation, Moser Baer India Limited, Falcon Technologies International L.L.C. and Singulus Technologies.
Globally, demand for recordable optical discs is declining at a rapid rate; however, cutting-edge innovation along with increasing awareness about data security and storage are expected to boost the demand for advanced optical discs in the near future.
According to an FMI analyst, “Global demand for optical storage disc market is declining due to the rapid adoption of new technologies such as cloud storage, Internet of Things (IoT) and Video on Demand (VOD). However, globally, increasing demand for archival solutions and positive outlook for the media and entertainment industry is expected to create significant demand for recordable optical discs in the near future.” The analyst added that major players in the recordable optical disc market are dedicated to invest into research and development (R&D) activities. This investment is majorly focused on product advancement that can be used for storing large amounts of data for longer durations. From a regional perspective, North America was the largest market for recordable optical disc, accounting for 41.4% market share in 2014. This region continues to dominate the market and the trend is expected to continue over the forecast period. Among countries, Japan and China are projected to play important roles due to the presence of key players. From end-user perspective, the media industry is projected to show a CAGR of -4.3% in terms of volume, during the forecast period. Increasing demand for archival solutions, the media and entertainment industry presents a positive market opportunity for the recordable optical discs.
Factors driving the recordable optical disc market are increasing consumer inclination towards recording HD broadcasts, growing demand for content protection and widening applications of the optical discs. However, stiff competition from other media storage devices and cloud-based storage services and high raw material costs restrain the growth of this market.
The global recordable optical disc market is segmented on the basis of region, product type and end-users. Product type includes CD, DVD and BD. CD is further sub-segmented into CD-R (audio type and data type) and CD-RW.
On the basis of end-users, the market is segmented into media industry, healthcare, educational institutes and others (manufacturing industry, telecom, BFSI, etc.). Key regions covered in the report include North America, Latin America, Western Europe (EU5), Eastern Europe, APEJ, Japan and the Middle East & Africa.
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Paisabazaar launches Credit Premier League 2.0
Nationwide campaign rewards highest credit scores with Rs 1 lakh top prize.
MUMBAI: When credit scores become a national league, even your CIBIL report starts feeling like it’s playing in the IPL and Paisabazaar has just kicked off the second season. Paisabazaar, India’s leading marketplace for financial products and the country’s largest free credit score platform, has announced the return of the Credit Premier League (CPL) 2.0, a fun, nationwide initiative to recognise and reward individuals with the highest credit scores.
Building on the success of the first edition, CPL 2.0 introduces higher rewards and broader participation. The individual(s) with the highest credit score in the country will win Rs 1 lakh, while state champions will each receive Rs 10,000. Additionally, all participants from the winning state, the one with the highest average credit score will also be rewarded.
All winnings will be credited directly to winners’ PB Wallet, allowing them to pay credit card bills, recharge mobiles, or settle utility bills seamlessly on the Paisabazaar platform.
Paisabazaar CEO Santosh Agarwal said the campaign aims to make credit awareness more engaging and mainstream. “With CPL, we are bringing together engagement, gamification and rewards to make conversations around credit scores more mainstream,” he noted. “Our focus remains on building a financially aware and credit-healthy Bharat.”
The first edition of CPL saw over 5.5 million participants, with the highest individual score touching 861. Delhi recorded the highest average credit score of 746.
Consumers can participate simply by checking their free credit score on the Paisabazaar platform or app. The CPL leaderboard and rankings will be available exclusively on the Paisabazaar App.
In a country where financial dreams are serious business, Paisabazaar has found a smart way to turn credit scores into an exciting game – because when your financial health gets rewarded, everyone wants to play.
