About HI-FI System
Over the past few decades, upsurging demand for information-based and entertainment-based applications, rising investments in research and developments have escalated the HI-FI Systems business growth. These systems enable consumers to meet the expectations of better quality sound reproduction from digital systems such as DVD, CD, speakers, soundbars or any other music systems. HI-FI equipment has negligible tolerance for managing the frequency response and very minimum of noise and distortion. Global digitalization has been robustly growing recently, that has maximized the consumer expectations about the sound quality, resolution, fidelity and many other things.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
CAGR | 6.52% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.The Players having a strong hold in the market are Onkyo Corporation, Bowers & Wilkins, Bose Corporation, Panasonic, and Yamaha. Analyst at AMA Research estimates that Asian and European Players will contribute the maximum growth to Global HI-FI System market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Onkyo Corporation (Japan), Bowers & Wilkins Group Ltd. (United Kingdom), Bose Corporation (United States), Panasonic Corporation (Japan), Yamaha Corporation (Japan), Harman International, Inc. (United States), LG Electronics Corporation (South Korea), Koninklijke Philips N.V. (Netherlands), Samsung Electronics Co. Ltd. (South Korea) and Sony Corporation (Japan) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are DEI Holdings Inc. (United States), Sonos, Inc. (United States), A&R Cambridge Ltd. (United Kingdom), Bang & Olufsen (Denmark), Marantz (D&M Holdings Inc.) (Japan), McIntosh Laboratory, Inc. (United States) and Guangdong OPPO Mobile Telecommunications Corp., Ltd (China).
Segmentation Overview
AMA Research has segmented the market of Global HI-FI System market by Type (Speaker and Sound Bar, CD Player, DVD Player, Blu-ray player, Network Media Player, Headphone & Earphone, Microphone and Turntable), Application (Residential, Car, Business and Other) and Region.
On the basis of geography, the market of HI-FI System has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Asia Pacific region held largest market share in the year 2023. If we see Market by Technology, the sub-segment i.e. Wired (Ethernet, Audio Cables) will boost the HI-FI System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Device, the sub-segment i.e. Dac will boost the HI-FI System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Robust Technological Developments in the Global HI-FI Systems Market and Introduction to Artificially Intelligent and IoT Enabled Hi-Fi Systems
Market Growth Drivers:
Upsurging Demand for Information-based and Entertainment-based Applications and Upsurging Research and Developments in Designing and Manufacturing Wireless Audio Technologies
Challenges:
Complexities in Delivering High-Quality Audio Service and Significant Post Purchase Maintenance Required in Manufacturing HI-FI System
Restraints:
Several Concerns Regarding Operating Frequency Stability for Wireless Hi-Fi System and Might Hamper Children Health and Numerous Other Health Risks Associated With the Same
Opportunities:
Escalating growth of Gross Domestic Product (GDP)In Developing vs Developed Countries and Availability of Information Technology Infrastructure and Spectrum Availability
Market Leaders and their expansionary development strategies
In February 2023, Samsung Electronics acquired Harman International Industries, a leading audio equipment manufacturer.
In August 2023, Yamaha launched its "Aventage RX-A8A" AV receiver in 2022, boasting advanced features and immersive audio capabilities.
Key Target Audience
HI-FI System Manufacturers, HI-FI System Distributors and Suppliers, HI-FI System International Traders, Electronics Industry Associations, Research and Development Institutes, Government Agencies, Upstream and Downstream Buyers and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.