Press release
Hi-Fi Speaker System Market 2018 Key Players: LG Electronics Corporation, DEI Holdings, Koninklijke Philips, Samsung Electronics, Sony Corporation and Tannoy
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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Key Players
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
The global Hi-Fi speaker system market is expected to grow significantly over the forecast period, 2017-2023. Academic segment of Hi-Fi speaker system market globally drives the market majorly due to growing consumer electronics market and adoption of wireless connectivity
The market is expected to have higher growth rate as compared to the previous years due to the booming electronic industry globally. It is due to the rising income of individuals globally and increasing affordability of technology products globally. It gives willingness push to Hi-Fi speaker system market in future prospective.
Asia Pacific region hold the largest share of the total Hi-Fi speaker system market in terms of revenue. It is due to the presence of some leading Hi-Fi speaker system providers in the region. Samsung Electronics Co., Ltd., Onkyo Corporation, Yamaha Corporation, Panasonic Corporation are well known leading industry participants located in Asia Pacific. Recently, in October 2017, Digitek, an Indian market leader in Photographic & amp; smartphone accessories introduced its brand new bluetooth Speaker, DBS-011 with in-built digital decoder for decoding and playing Mp3 files and low distortion 20W Power Amplifier with Bass Control, the 5.25” hi-fi speaker produces high fidelity, rich sound. In September 2017, Xiaomi has launched a new compact Bluetooth speaker named 'Mi Bluetooth Speaker Basic 2' having two 2.5W speakers that can produce high-fidelity sound over Bluetooth. Booming automotive industry in China and India is expected to surge the Hi-Fi speaker system market at fast pace.
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