The MP3 player market mushroomed suddenly in 2004, as hundreds of compelling products arrived in response to the overwhelming success of Apple Computer's iPod. Shipments of MP3 players rose by a whopping 116 percent in 2004.
Total MP3 player shipments will expand to 132 million units in 2009, rising at a Compound Annual Growth Rate (CAGR) of 29.1 percent from 36.8 million in 2004.
Hard drive based products should account for nearly half of all MP3 shipments by 2009. The market for semiconductors used in MP3 players is expected to expand also.