Optical Storage Media Market Report

Market Insights

The Optical Storage Media market is projected to grow from USD xx million in 2020 to USD xx million by 2026 at a CAGR of around x% during the forecast period.

Figure: Optical Storage Media Market Size, 2020-2026 (USD Million)

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What is optical storage?

Optical storage is a storage type in which data is written and read with a laser. The data is written to optical media such as DVDs and CDs (compact discs). Optical media is more durable as compared to tape, flash drives, and HDDs. It is less vulnerable to environmental conditions.

Key Players

Key players operating in the Optical Storage Media market are-

• Moser Baer (India)
• Oyster Technologies (UK)
• Microlite Corporation (US)
• Traxdata (US)
• RS Components, Ltd. (UK)
• Garza Industries, Inc. (US)
• Premio Inc. (US).

Market Dynamics

The growth of the optical storage media market is primarily driven by widespread product use in numerous applications including electronics, automotive, and aerospace. The growing automotive industry with rising automotive production in developing countries is likely to drive the growth of the optical storage media market at a significant rate during the review period. In addition to this, increasing demand for advanced data storage devices is likely to create lucrative opportunities for the players operating in the global market in the coming years.

Segment Analysis

Application Trends

By application, the optical storage media market has been bifurcated into electronics, aerospace, automotive, and others. Under these, electronics accounted for the largest market share in 2020 and is projected to register significant growth during the review period. This can be attributed to expanding growth of the electrical & electronics industry across geographies.

Regional Trends

By region, the market in North America accounted for the largest market share in 2020 and is projected to grow at a significant CAGR during the assessment period. The regional growth can be attributed to the presence of major end-use industries coupled with the presence of key market players such as Microlite Corporation (US) and Garza Industries, Inc. (US). The market growth in the Asia-Pacific region is expected to be driven by increasing demand for optical storage media in the end-use industries in developing countries particularly China and India.

COVID-19 Impact on Optical Storage Media Market

The covid-19 outbreak posed significant challenges across verticals worldwide. It impacted the growth of the optical storage media market negatively as the imposition of complete lockdown and restrictions on trade affected the product supply in the end-use industries for a short period.

Critical Questions Answered in the Report

• What are the key trends in the Optical Storage Media market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on the Optical Storage Media market?
• What are the key strategies adopted by the major vendors to lead in the Optical Storage Media market?
• What is the market share of the top vendors?

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Target Audience

Here is the list of the group of customers that the optical storage media market hopes to have the greatest opportunity to convert-

• Optical storage media distributors
• Optical storage media suppliers
• Optical storage media manufacturers
• Logistics organizations
• Government bodies

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