The Hi-Fi system market is likely grow at a CAGR of 6.4% between 2016 and 2022. The Hi-Fi market size would expand from its value of USD 10.62 billion in 2015 to USD 16.49 billion by 2022. There has been an increase in the consumption of audio devices with different types of connectivity like AirPlay, Bluetooth, SKAA and Wi-Fi.
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Hi-Fi systems Consist of audio device manufacturers have witnessed an increased shipment of devices with varied connectivity solutions such as Bluetooth, AirPlay, Wi-Fi, and SKAA, and it is expected that sound bars, portable speakers, and other personal wireless audio devices such as wireless headphones would provide impetus to this growth momentum. a rise in the portable devices, such as smartphones and tablets, is driving a huge demand for the wireless audio products which has also contributed to the demand for wireless Hi-Fi systems.
“Automotive application market to gain maximum traction during the forecast period”
As part of the qualitative Hi-Fi system market forecast the report suggests that, during the forecast period, automotive application market will be the fastest growing market. To follow the upcoming trend, automobile manufacturers now provide cars with wireless Hi-Fi speaker systems. In all the luxurious cars, wireless Hi-Fi systems and in-car infotainment systems are integrated, whereas in ordinary cars, to end models have this facility. Since there is a growth in the car segment and a very high demand for luxurious automobiles, there is a proportionally high demand for Hi-Fi system market.
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? The Hi-Fi systems market size, which is arrived at through information collected for several segments and sub segments through secondary research, is estimated and validated through extensive primary interviews conducted with key people.
? APAC is the largest and the fastest-growing region for Hi-Fi audio system. The increasing number of consumers adopting technologies such as smartphones, tablets, smart homes, and home-theater-in-a-box (HTiB) is making this possible.
? The Hi-Fi system market in the North America poses a steady growth and accounts for the second-largest market. Despite being a mature market, the growth in the North American market is highly sustainable because of the presence of a large number of manufacturers in the region.
Established companies, small firms and new entrants should invest in this report for the following points:
1. Hi-Fi system market is segmented comprehensively in this report and closest approximations of the overall market size and that of the sub segments across the different verticals and regions is provided for deeper insight into the Hi-Fi system industry.
2. The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and Hi-Fi system market opportunities.
3. This report would help stakeholders to better understand their competitors and gain more insights to enhance their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, and mergers & acquisitions in the Hi-Fi system market.
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The break-up of profile of primary participants is given below
• By Company Type: Tier 1 – 55 %, Tier 2 – 20%, and Tier 3 – 25%
• By Designation: C-Level Executives – 75% and Managers – 25%
• By Region: North America – 10%, Europe – 20%, APAC – 40%, and RoW – 30%
The Hi-Fi system industry key players profiled in the report are as follows
1. Onkyo Corporation(Japan)
2. Bowers & Wilkins(U.K.)
3. Bose Corporation(U.S.)
4. Panasonic Corporation(Japan)
5. Yamaha Corporation(Japan)
6. DEI Holdings Inc.(U.S.)
7. Harman International, Inc. (U.S.)
8. Sony Corporation(Japan)
9. Samsung Electronics Co.Ltd.(South Korea)
10. LG Electronics Co.Ltd.(South Korea)
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