Press release
Hi-Fi Speaker System Market is expected to reach USD 7.69 Billion by 2023
According to Market Research Future, market has been segmented into connectivity technology, distribution channel, end-users and region.
Hi-Fi (high fidelity) System refer to a reproduction of high-quality sound obtained from audio devices. Hi-Fi speaker system is majorly used by home audio enthusiasts, stereo listeners. Network media players, Blu-Ray Players, DVD player, headphones are the different products offered under Hi-Fi system. Hi-Fi Speaker System have accurate frequency response and inaudible noise and distortion.
The factors such as rising demand of consumer electronics and advance technology devices are the primary driving factors of the Hi-Fi speaker system market. Wireless technologies in consumer electronics has changed the lifestyle of the people. Hi-Fi speaker system is a technological advancement in speaker that changed a way to listen music. Many speaker manufacturers are focusing on redesigning their products to incorporate wireless connectivity. This is expected to drive the Hi-Fi speaker system market at fast pace.
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Major Key Players
Onkyo Corporation (Japan),
Bowers & Wilkins Group Ltd. (England),
Yamaha Corporation (Japan),
Bose Corporation (U.S.),
Panasonic Corporation (Japan),
Harman International Inc. (England),
LG Electronics Corporation (South Korea),
DEI Holdings, Inc. (U.S.),
Koninklijke Philips N.V. (Netherland),
Samsung Electronics Co., Ltd. (South Korea),
Sony Corporation (Japan)
Tannoy Ltd. (England)
Global Hi-Fi speaker system Market is expected to reach approximately USD 7.69 billion by the end of 2023 with 6.20% CAGR during forecast period 2017-2023.
On the basis of connectivity technology, the market can be segmented into wired and wireless. Out of these, wired connectivity technology is further segmented into ethernet & audio cables, and wireless connectivity technology is segmented into bluetooth, Wi-Fi, AirPlay, and other. Out of these, wireless connectivity technology is expected to be the largest segment of the Hi-Fi speaker system market.
On the basis of distribution channel, the market can be segmented into online sales and retail sales. Increasing digitalization and technological advancement all over the world changes the way of purchasing the products. Out of these, online sale of the Hi-Fi speaker system is more due to which online sale segment accounted for the largest market. Residential, commercial, automotive and others are the end-user segments of the Hi-Fi speaker system. Out of these, Hi-Fi speaker system for residential accounted for the largest market share in terms of revenue.
On the basis of region, the market can be segmented into North America, Europe, Asia-Pacific and Rest of the world. Asia Pacific region accounted for the largest market share majorly due to the fast connectivity technology adoption and growing purchasing power of the people in the region. In addition, some leading manufacturers of Hi-Fi speaker system such as Samsung Electronics Co., Ltd., Onkyo Corporation, Yamaha Corporation, and Panasonic Corporation are located in Asia Pacific. Therefore, Asia Pacific is expected to be the fastest growing region for the Hi-Fi speaker system market. High disposable income coupled with easy affordability of connectivity technology devices expected to grow the Hi-Fi speaker system market in North America. North America is second largest region in the Hi-Fi speaker system market.
Market Research Future (MRFR) publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit.
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About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
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