Consumers’ demand for highly-efficient A/V cassette housings & parts is on a persistent rise, persuading manufacturers of A/V cassette housings & parts to offer highly-competent products in terms of features and effectiveness. Large-scale presence of local and regional based manufacturers of A/V cassette housings & parts is making the competition level in the A/V Cassette Housings & Parts Market space highly intense than ever. Manufacturers of A/V cassette housing are vying to develop products that are not damageable to the fragile cassettes and their peripheries.
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Proper maintenance of audio/video cassettes and the need to mitigate risks associated with breakage or damage to these devices is fostering use of A/V cassette housings & parts. Audio/video cassettes represent the most fragile structure, on the back of polymerized plastics, which makes A/V cassette housings & parts a must-have for physical well-being of these devices. However, the rapid penetration of smart phones with integrated multimedia services and apps have resulted in declined sales of audio/video cassettes, which is creating challenges for adoption of A/V cassette housings & parts.
With an aim of safeguarding data and its subsequent loss, the A/V cassette housings & parts are witnessing elevated adoption. The rising need to safeguard A/V cassettes, which are fragile in nature from damage or disruption is fostering popularity of /V cassette housings & parts.
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Primary factors driving the global A/V cassette housings & parts market include the return of A/V cassettes into the market and the need to keep them protected. A/V cassette housings & parts are very efficient, reliable & sturdy, which increases their demand. Also, the rising requirement to mitigate damage to fragile cassettes and prevent data loss are among factors driving the global market. These housings and parts are available in varying sizes to accommodate single or multiple cassettes. The stacking of A/V cassettes in these containers keeps them protected and prevents data loss. This is another factor that is driving the global market.
However, the availability of more efficient A/V storage devices, such as compact discs and external memory drives, is negatively impacting the demand for A/V cassettes, which is, in turn, restraining the overall growth of the global A/V cassette housings and parts market. Devices, such as MP3 players and smartphones, along with the availability of downloadable media content, smartphone applications, and internet websites, pose a threat to the growth of the global market. Moreover, A/V cassette housing that is designed to hold multiple A/V cassettes is quite bulky and occupies more space.
Large presence of local vendors in countries in the Asia Pacific, such as India and Pakistan, is driving the A/V cassette housings and parts market in the region. Among all the regions, Asia Pacific is expected to register the highest market value. The region is also anticipated to generate the highest growth during the forecast period owing to the return of A/V cassettes in the market. The need for a secure storage area for pre-owned A/V cassettes is among factors driving the A/V cassette housings and parts market in the region.
Some of the major players operating in the global A/V cassette housings & parts market include Samsung; Panasonic Corporation; Mitsubishi Electric Corporation; JVC KENWOOD Corporation; Sony Corporation; Goldstar; Sharp Electronics Sdn. Bhd.; Funai Teac Palsonic; Daewoo; Akai and Sanyo Corp.
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A/V Cassette Housings & Parts Market key Insights Based On Product Type, End-use and Regional Demand
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