A vinyl record, also known as gramophone record or phonograph record is an analog sound storage system that consists of a flat disc with an inscribed modulated spiral groove that usually starts near the periphery and ends near the center of the disc. Gramophone records were the primary medium used for commercial music production during most of the 20th century which was replaced by phonograph cylinder (a popular recording medium during 1990s.) Gramophone records remain the medium of choice for many audiophiles, and specialist areas such as electronic dance music and hip hop. The history of vinyl records dates back to 1877 when Thomas Edison developed the phonograph which was capable of replaying the recordings made.
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The global vinyl records market is expected to witness steady growth in the near future. In the digital era of music, vinyl records provide unparalleled aesthetic appeal. The experience which vinyl records provide for music lovers is one of the major reasons for the increase in its demand. Additionally, increasing popularity of live shows is anticipated to drive the vinyl records market. Increase in number of promotional events such a Record Store Day is also estimated to boost the vinyl records market. Record Store Day is a promotional event where thousands of independent record stores gather to sell, purchase, and promote vinyl records and turntable. However, pirating as a result of increased demand for vinyl records is one of the major challenges being faced by manufacturers. Additionally, presence of digital music format is another key restraint for the growth of the vinyl records market.
Some of the prominent players operating in the vinyl records market includes PrimeDisc International Ltd.(Hong Kong), A to Z Media (the U.S.), Sound Performance USA (the U.S.), Microforum Vinyl (the U.S.), Handle with Care Manufacturing (Germany), Deeprooves Pressing Plant (Netherlands), Yong Tong A&V Manufacture Limited (China), Burlington Record Plant (the U.S.), Vinilificio (Italy), and Pirates Press (the U.S.). All these players compete with each other with respect to new product designs, technological advancements etc. in order to have a competitive edge in the vinyl records market.
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