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Hi-Fi Speaker System Market – growing demand from complimentary industries such as entertainment, automotive and others

02-06-2018 05:48 AM CET | IT, New Media & Software

Press release from: Market Research Future - MRFR

Hi-Fi Speaker System Market – growing demand from

Market Synopsis of Global Hi-Fi Speaker System Market:

The 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.

Market Dynamics of Global Hi-Fi Speaker System Market:
Drivers
• Growing adoption and demand for wireless connectivity technology
• Booming consumer electronics industry
• Ease of use and portability advantages over the traditional audio systems
• Advantages of High-fidelity such as better signal to noise ratio, less distortion and an accurate frequency response
• Growing complimentary industries such as media, entertainment, automotive and others.
• Comfort associated with freedom of movement and hands
• Avoidance of cabling wear and tear caused by constant stressing the cables
• Reduction of trip hazards during performance
• Growing number of public events such as conferences and corporate events
• Growing research and development resulting in Innovation, and cost-effective product portfolio
• Falling prices of components and global supply chains

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The key players in the global Hi-Fi speaker system market include- 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) and Tannoy Ltd. (England) among others.

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.

Regional analysis of Global Hi-Fi Speaker System Market:

Geographically, the market is segmented into North America, Europe, Asia Pacific and Rest of the World. The regional segment is further bifurcated into U.S., Canada, Mexico, UK, France, Germany, China, Japan and India. Regionally, Asia Pacific accounted for the largest market share from countries such China, India and Japan among others due to larger unmet needs, larger demand, larger population and growing economy. Asia also has a large and growing automotive sector which is benefiting the market. Other factors benefiting the Asia Pacific market is the emergence of nations like China, Vietnam etc. as a low cost manufacturing base.

The Asia Pacific market is followed by Americas market which is dominated by the U.S. due to factors such as greater density of vehicles, large entertainment industry, faster technological uptake and others. The Latin America market is dominated by Brazil, Chile and Argentina.
Germany is the largest market in the European region followed by France, with U.K. registering highest growth. The Middle East and Africa market is led by Gulf economies such as UAE, Saudi Arabia and others. The Africa region is expected to yield fast growth for low cost devices.

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Segments of Hi-Fi Speaker System Market

For the purpose of this study, Market Research Future has segmented the market of Hi-Fi speaker system into connectivity technology, distribution channel, end-user and region.
Connectivity Technology – Wired (Ethernet, audio cables), Wireless (Bluetooth, Wi-Fi, AirPlay, others)
Distribution Channel (online sales, retail sales, online sales, retail sales)
End-users (residential, commercial, automotive, others)

• Automotive manufacturers

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.

Contact:
Market Research Future
+1 646 845 9312
Email: sales@marketresearchfuture.com

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