Publishing: November 2021 | Report Code: CP10725 | Available Format: PDF
The global High-Fidelity (Hi-Fi) system market has experienced a considerable growth due to increasing demand of high quality music among audiophiles. Wireless devices have made its way across various audio products, such as speakers & sound bars, headphones, network media players, and others. The growing demand for wireless audio devices is expected to drive the growth of the global Hi-Fi system market.
High-fidelity equipment offers minimal noise and distortion and an accurate frequency response. The demand for wireless audio devices arises not only from the home applications, but also from the commercial and other niche applications such as security, military and automotive. Now-a-days, the Hi-Fi market is gaining maximum traction due to its increasing application in automotive sector. The emerging trends witnessed in the Hi-Fi market are increasing demand of wireless Hi-Fi speaker systems in cars, growing demand for home-theatre-in-a-box (HTIB), increasing number of consumers adopting technologies such as smart homes, overall growth in the car segment, and demand for luxury automotive in the developing economies.
The technological advancement in wireless audio devices such as wireless headphones and growing demand for portable devices such as tablets and smartphones are the major growth contributing factors for the global Hi-Fi system market. The increasing need of better sound quality and infotainment services creates an opportunity for the Hi-Fi system market. The size, design and connectivity of Hi-Fi products, such as bluetooth speakers, makes them most popular product among other audio products.
Geographically, Asia-Pacific is expected to be the largest market of Hi-Fi systems during the forecast period, owing to factors such as growing population, rapid increase in purchasing power parity (PPP) and technological developments. North America, being a mature market holds second largest share in the global Hi-Fi system market. North America witnessed sustainable growth in the Hi-Fi market during the past years because of the presence of a large number of manufacturers in the region. However, Europe having accommodated developed economies such as Germany and France, is expected to experience considerable growth with increasing demand for luxury automotive that comes with wireless Hi-Fi sound system. Among Hi-Fi products category, speakers & sound bars collectively accounted for the largest market share. During the forecast period, the market for automotive application is expected to grow at the highest rate.
Some of the major players operating in the global Hi-Fi system market include Bowers & Wilkins Group Ltd, Onkyo Corporation, Bose Corporation, Panasonic Corporation, Yamaha Corporation, DEI Holdings Inc., LG Electronics Co., Ltd., Sony Corporation, Harman International, Inc., Koninklijke Philips N.V., and Samsung Electronics Co. Ltd.
Global Hi-Fi System Market Segmentation
Get a bespoke market intelligence solution
Our dedication to providing the most-accurate market information has earned us verification by Dun & Bradstreet (D&B). We strive for quality checking of the highest level to enable data-driven decision making for you
Our insights into the minutest levels of the markets, including the latest trends and competitive landscape, give you all the answers you need to take your business to new heights
With 24/7 research support, we ensure that the wheels of your business never stop turning. Don’t let time stand in your way. Get all your queries answered with a simple phone call or email, as and when required
We take a cautious approach to protecting your personal and confidential information. Trust is the strongest bond that connects us and our clients, and trust we build by complying with all international and domestic data protection and privacy laws