Hi-Fi System Market

Hi-Fi System Market was estimated at USD 13,200 Million in 2019 and predicted to grow at a 5.2% CAGR during the forecast period.

High Fidelity (Hi-Fi or Hifi) Systems is a collective term for the high-quality reproduction of sound. Hi-Fi systems are used to create the spatial sound stage whereby enriching audiophiles, listeners, and home audio enthusiasts listening experience. The Hi-Fi systems comprise of signal sources such as digital audio tape (DAT), digital audio broadcasting (DAB), or HD Radio tuners and are digitally connected through fiber optic TOSLINK cables, USB ports, or using WI-Fi support.

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The major factors which are driving the growth of the Global Hi-Fi System market include the growing demand for portable devices and the increasing requirement for infotainment services. The rising demand for portable devices such as tablets, smartphones, and laptops are strengthening the growth of wireless audio products in the Hi-Fi system. In addition to this, the continuous technological advancement in the Hi-Fi systems, such as integration of AI and machine learning, is encouraging the consumers towards the adoption of Hi-Fi systems. The drastic rise in GDP across the emerging economies coupled with the increasing per capita income in China, India, and Japan and growing penetration of the internet across the world will have a positive impact on the market in the coming years. On the other hand, the increasing number of problems associated with the wireless Hi-Fi system and health issues related to the use of audio devices for a longer time may hamper the growth of the market.

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Based on the System, the Product segment is expected to lead the market during the forecast period owing to the increasing demand for speaker & soundbar, headphone & earphone, CD player, DVD player, Blu-ray player, and microphone among consumers followed by the growing adoption of wireless technology across the globe. Moreover, the speaker & soundbar are also suitable for TVs, music systems, home theatre, smartphones, gaming console and can be easily connected using HDMI, wi-fi, and Bluetooth.

Based on Connectivity Technology, Wireless technology is projected to grow at a higher CAGR during the forecast period owing to the significant shift in the manufacturer’s demand towards wireless audio devices equipped with various advanced technologies. Wireless technology is gaining popularity among the consumer as it reduces the wiring requirement and does not require renovation or reconstruction.

Based on the Application, the Residential segment is anticipated to lead the market during the forecast period owing to the growing adoption of smart home concepts among consumers, followed by the rising requirement for wireless Hi-Fi systems. In addition to this, the increasing usage of smart devices such as laptops, smartphones, among others, which are equipped with wireless headphones and headsets, will further boost the growth of the market.

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Based on the region, Asia-pacific is anticipated to lead in the global Hi-Fi System market during the forecast period owing to the increasing demand for Hi-Fi systems by the consumers across countries such as China, India, and Japan in this region. The rising disposable income of consumer, coupled with the growing GDP growth rate in developing countries, is another factor driving the growth of the market in this region.

The major key players in the Hi-Fi System market include Samsung Electronics Co., Ltd., Sony Corporation, Apple Inc., Bose Corporation, Sennheiser Electronic GmbH & Co. KG, LG Electronics, Panasonic Corporation, Dei Holdings, Inc., Yamaha Corporation, Koninklijke Philips N.V., among others.

Key Developments:

• • In 2019, Phillips launched a range of models of DVD mini hi-fi systems; FWD790, FWD576 & FWD796 in India. It provides high sound quality outputs and additional features.
  • In Aug 2019, HARMAN, a subsidiary of Samsung Electronics, launched Infinity in the Indian market. The company also launched 11 new audio products, including six Infinity headphones, four portable Bluetooth speakers, and a multimedia 2.1 Bluetooth system.
  • In May 2019, Bose Corporation launched headphones with the wireless Noise Cancelling Headphones 700 that redefines voice-control, mobile communication.

The Global Hi-Fi System market has been segmented based on the System, Connectivity Technology, Application, and Region. Based on the System, the market is segmented into Product and Device. The product is further segmented into Speaker & Soundbar, CD Player, DVD Player, Blu-Ray Player, Network Media Player, Turntable, Headphone & Earphone, and Microphone. Devices are further segmented into DAC (Digital-To-Analog Converter) Amplifier, Preamplifier, and Receiver. Based on Connectivity Technology, the market is segmented into Wired and Wireless. Wired is further segmented into Ethernet Cable and Audio Cable. Wireless is further segmented into Bluetooth, Wi-Fi, Airplay, and Others. Others are further segmented into SKAA, Sonos, play-Fi, and RF and IR. Based on Application, the market is segmented into the Residential, Automotive, Commercial, and Others.

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Key questions answered in this research report:

• • At what pace is the global Hi-Fi System market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the global Hi-Fi System market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Hi-Fi System market?
  • Which system generated maximum revenues in 2019 and identify the most promising systems during the forecast period?
  • What are the various application areas of the global Hi-Fi System market, and how are they poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Hi-Fi System Market by System        

• • Product
    • Speaker & Soundbar
    • CD Player
    • DVD Player
    • Blu-Ray Player
    • Network Media Player
    • Turntable
    • Headphone & Earphone
    • Microphone
  • Device
    • DAC (Digital-To-Analog Converter)
    • Amplifier
    • Preamplifier
    • Receiver

Global Hi-Fi System Market by Connectivity Technology        

• • Wired
    • Ethernet Cable
    • Audio Cable
  • Wireless
    • Bluetooth
    • Wi-Fi
    • Airplay
    • Others

Global Hi-Fi System Market by Application               

• • Residential
  • Automotive
  • Commercial
  • Others

Global Hi-Fi System Market by Region

• • North America Hi-Fi System Market (Option 1: As a part of the free 25% customization)
    • North America Hi-Fi System Market by System
    • North America Hi-Fi System Market by Connectivity Technology
    • North America Hi-Fi System Market by Application
    • US Hi-Fi System Market All-Up
    • Canada Hi-Fi System Market All-Up
  • Europe Hi-Fi System Market (Option 2: As a part of the free 25% customization)
    • Europe Hi-Fi System Market by System
    • Europe Hi-Fi System Market by Connectivity Technology
    • Europe Hi-Fi System Market by Application
    • UK Hi-Fi System Market All-Up
    • Germany Hi-Fi System Market All-Up
    • France Hi-Fi System Market All-Up
    • Spain Hi-Fi System Market All-Up
    • Rest of Europe Hi-Fi System Market All-Up

• • Asia-Pacific Hi-Fi System Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Hi-Fi System Market by System
    • Asia-Pacific Hi-Fi System Market by Connectivity Technology
    • Asia-Pacific Hi-Fi System Market by Application
    • China Hi-Fi System Market All-Up
    • India Hi-Fi System Market All-Up
    • Japan Hi-Fi System Market All-Up
    • Rest of APAC Hi-Fi System Market All-Up
  • ROW Hi-Fi System Market (Option 4: As a part of the free 25% customization)
    • ROW Hi-Fi System Market by System
    • ROW Hi-Fi System Market by Connectivity Technology
    • ROW Hi-Fi System Market by Application
    • Brazil Hi-Fi System Market All-Up
    • South Africa Hi-Fi System Market All-Up
    • Saudi Arabia Hi-Fi System Market All-Up
    • UAE Hi-Fi System Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Hi-Fi System Market All-Up

Global Hi-Fi System Leading Market Players (Option 5: As a part of the free 25% customization – Profiles of 5 Additional Companies of your Choice)

• • Samsung Electronics Co., Ltd.
  • Sony Corporation
  • Apple Inc.
  • Bose Corporation
  • Sennheiser Electronic GmbH & Co. KG
  • LG Electronics
  • Panasonic Corporation
  • Dei Holdings, Inc.
  • Yamaha Corporation
  • Koninklijke Philips N.V.