iPod Sales Expected to Double

03.29.07 - 11:57am

The iPod has already sold over 70 million units and is now expected to double that between 2005 and 2010.

The iPod/MP3 player market is only just beginning according research done by iSuppli, a provider of market intelligence and advice.

In a written report iSupply wrote, “The Portable Media Players (PMP)/MP3 players represents one of the fastest-growing segments of the consumer electronics industry today.”

There were a 178.1 million units sold in 2006 and iSuppli predicts that this number will rise this year to 216.9 million units. They expect that in 2011 the number will be up to 268.6 million units, expanding at a Compound Annual Growth Rate of 13%.

The iPod sold 46.4 million units in 2006, dominating the market at 26% of the global share.

“A major driving factor behind this growth is the fact that PMP/MP3 players take advantage of the Internet more than other consumer electronic devices, giving users the ability to quickly and easily sample, acquire and share media,” said Chris Crotty, senior analyst for consumer electronics at iSuppli. “Other reasons for the rapid market expansion include the expanding catalog of available content and component cost reductions that are making the players more affordable for consumers.”

All in all it looks like the iPod and the iPhone still have a lot of growth left in them. Good news for Apple stock which is rising from their previous close yesterday at 93.24. At the time of this article it was up .14% from yesterday and rising.

Category: MP3 Players, apple, iPod | Tags: consumer_electronics_industry, iPod, isuppli, mp3_player_market