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Hi-Fi systems enable users to meet sound reproduction requirements from digital systems such as CD, DVD, speakers, and sound bars with better quality. Hi-Fi equipment has precise response frequency and less noise and distortion. Currently as system digitization is gaining acceptance, user's expectations for high-quality, resolution, and fidelity sound reproduction have also increased. User's listening experience from previous two generations have significantly changed. The Hi-Fi system consists of components such as amplifiers, receivers, network players, DACs, CD players, audio recorders, and tuners.
The global Hi-Fi system market is segmented on the basis of system, connectivity technology, end use, and region. Based on system, the Hi-Fi system market is bifurcated into product and device. The product segment is further segmented into speakers & sound bars, blu-ray player, network media player, and headphones. The device segment is also further segmented into DAC, amplifier, preamplifier, and receiver.Â
In terms of connectivity technology, the market is bifurcated into wired and wireless. On the basis of end use, the market is divided into residential, automotive, commercial, and others. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).
Top Impacting Factors
The Hi-Fi device market grew as a result of innovation and developments in wireless technology. Emerging automotive sector, rise in demand for home-theater-in-a-box (HTiB), and smart homes boost the global growth for Hi-Fi systems. In addition, increase in adoption of portable devices such as tablets, laptops, smartphones, and online services has contributed to growth of Hi-Fi wireless audio products.Â
In addition, disposable income and growth in penetration of technologically advanced goods fuel adoption of Hi-Fi systems in consumer electronics and home entertainment. However, government policies and limitations to technology influence development of demand for Hi-Fi systems.
In terms of end use, the Hi-Fi system market is segmented into residential, automotive, commercial, and other sectors. Growth in demand for wireless Hi-Fi systems and smart-home concept are expected to drive the residential end use market. The rise in global demand for smartphones, computers, and tablets designed to fit with wireless headphones and headsets also contributes to the growth of residential use.
Due to large customer base and rise in consumer buying power, Asia-Pacific is expected to hold the largest size of the Hi-Fi device market during the forecast period. Rise in popularity of wireless communication technology and increase in mobility requirement also drives the Hi-Fi systems market in this region. The region is witnessing increased demand for consumer electronics, such as smartphones and tablets, leading to the growth of its Hi-Fi device industry.
With new trends that automotive manufacturers provide cars with wireless Hi-Fi speaker systems, the Hi-Fi system market is growing in the automotive industry. With support of fully integrated wireless Hi-Fi speakers in vehicles, the automotive industry offers luxury and comfort to customers. All of the luxury automobile in today's world consists of fully integrated wireless systems and all other manufacturers have these facilities in their top-end models. Increase in demand for luxury automobile in cars and buses in developing countries is projected to further boost global demand for Hi-Fi systems.
Key Benefits of the Report
COVID-19 Scenario Analysis
Questions Answered in the Hi-Fi System Market Research Report
Hi-Fi System Market Report Highlights
Aspects | Details |
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By System |
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By Connectivity Technology |
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By End Use |
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By Region |
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Key Market Players | Sony Corporation (Japan), DEI Holdings Inc. (US), Samsung Electronics Co. Ltd. (South Korea), LG Electronics (South Korea), Sennheiser Electronic GmbH & Co. KG (Germany), Yamaha Corporation (Japan), Panasonic Corporation (Japan), Koninklijke Philips N.V. (Netherlands), Bose Corporation (US), Apple Inc. (US) |
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