Vinyl Sales Projected To Grow Exponentially Through 2020
The global vinyl records market is forecast to grow at a compound annual growth rate of 55.15% during the period 2016-2020, according to a new study by Research and Markets.
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According a new Research and Markets study, vinyl manufacturers are now focusing on technological advancements to maintain the strong growth, as well as adding capacity to their existing lines. A new HD vinyl record format is expected to hit the market soon.
All will help propel a compound annual vinyl growth rate of 55.15% during the period 2016-2020
There is differential pricing across regions. Vinyl in the US is sold at a lower price than in European and Asian countries. Also, due to low availability of stock, consumers in Japan have had to import vinyl records.
The full report can be purchased here.
