Allied Market Research

2024

Hi-fi System Market

Hi-Fi System Market Size, Share, Competitive Landscape and Trend Analysis Report by System, by Connectivity Technology and by End Use : Global Opportunity Analysis and Industry Forecast, 2023-2032

SE : Electronic Systems and Devices

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Author's: | Sonia Mutreja
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Hi-Fi System Market Outlook – 2027 

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. 

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. 

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.

Residential Market Projected to have Significant Share during the Forecast Period

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.

Asia-Pacific Anticipated to have the Largest Market Share 

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.

Automotive Industry to Increase Demand for Hi-Fi Systems 

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

  • This study presents the analytical depiction of the global Hi-Fi system market forecast along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global Hi-Fi system market share.
  • The current market is quantitatively analyzed to highlight the global Hi-Fi system market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed global Hi-Fi system market analysis based on competitive intensity and how the competition will take shape in coming years. 

COVID-19 Scenario Analysis

  • Global Hi-Fi system market has been significantly impacted by the COVID-19 outbreak. New projects throughout the world have stalled, which, in turn, have led to a significant decline in demand for these systems.
  • Global factories have struggled to integrate new Hi-Fi systems as workers have stayed in their homes, which has disrupted the global supply chains.
  • The impact of COVID-19 on this market is temporary as just the production and supply chain is stalled. Once the situation improves, production, supply chains, and demand for these embedded systems are gradually going to increase.

Questions Answered in the Hi-Fi System Market Research Report

  • Who are the leading market players active in the Hi-Fi system market?
  • What would be the detailed impact of COVID-19 on the Hi-Fi system market size?
  • How current Hi-Fi system market trends would influence the industry in the next few years?
  • What are the driving factors, restraints, and opportunities in the global market?
  • What are the projections for the future that would help in taking further strategic steps?

Hi-Fi System Market Report Highlights

Aspects Details
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By System
  • Product (Speakers and Sound Bars, Blu-Ray Player, Network Media Player, and Headphones)
  • Device (DAC, Amplifier, Preamplifier, and Receiver)
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By Connectivity Technology
  • Wired
  • Wireless
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By End Use
  • Residential
  • Automotive
  • Commercial
  • Others
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By Region
  • North America  (U.S., Canada)
  • Europe  (France, Germany, UK, Italy, Spain, rest of Europe)
  • Asia-Pacific  (China, India, Japan, South Korea, Australia, rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
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Key Market Players

Bose Corporation (US), Panasonic Corporation (Japan), Samsung Electronics Co. Ltd. (South Korea), Sony Corporation (Japan), Apple Inc. (US), Koninklijke Philips N.V. (Netherlands), DEI Holdings Inc. (US), Sennheiser Electronic GmbH & Co. KG (Germany), Yamaha Corporation (Japan), LG Electronics (South Korea)

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Hi-Fi System Market

Global Opportunity Analysis and Industry Forecast, 2023-2032