Booming Market for MP3 Players

Even with the CD still commonly being used these days, do not forget about the MP3 players just yet. According to LinuxElectrons, MP3 players are a booming business, no pun intended. Personally, I think that the iPod is greatly responsible for this growth trend in the whole mobile music scene, but that is just my take.

Compressed audio players – also known as MP3 players – are available in portable, home and automotive form factors and from major and minor consumer electronics manufacturers and PC vendors. Broad consumer acceptance of MP3 players is being driven by a variety of factors, including falling price points, the availability of music from legitimate online music services, and the integration of compressed audio support in a wide variety of digital devices, including DVD players and gaming devices. The worldwide compressed audio player market is booming, and is expected to reach nearly $58 billion in revenues by 2008, representing a five-year compound annual growth rate (CAGR) of 20%.

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