MP3 Player Market Booming

The market for hard disk and flash-based portable audio players is booming, according to a recently released report from research firm In-Stat. The research firm is reporting that the Digital Audio Player market has topped $4.5B, and is expected to reach 104 million units by 2009, up from the 27.8M units sold in 2004. The firm reports that falling prices, subscription and pay-per-download music services, and smaller hard drives and increased flash memory capacity are behind the booming market. The revenue in the market increased almost 200% over 2003, led by Apple's iPod, which garnered 30.2% of the portable audio player market.