Market Overview:
The global HI-FI system market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for high-quality audio systems in residential, commercial, automotive, and other applications. Wired systems are expected to dominate the global HI-FI system market during the forecast period, owing to their superior sound quality as compared to wireless systems. However, wireless systems are expected to grow at a higher CAGR than wired systems during the forecast period due to their growing popularity among consumers owing to their portability and ease of installation. North America is estimatedto be the largest regional market for HI-FI systemsthis year followed by Europe and Asia Pacific respectively.
Product Definition:
A high fidelity (HI-FI) system is a stereo or surround sound audio system that reproduces sound with high accuracy and minimal distortion. HI-FI systems are used in homes and commercial settings to provide clear, accurate audio reproduction. The importance of HI-FI systems lies in their ability to faithfully reproduce the original sound signal without adding noise or distortion. This results in a more accurate and enjoyable listening experience.
Wired Systems:
Wired systems are the traditional audio/video entertainment system which has dominated the global market over many years. The growth factor in HI-FI System industry is due to its upgradation features and technology such as Blu-ray, DVD, CD player with USB port for loading music or video files.
The major advantage of using wired systems is that there's no chance of interference from other devices in the house because they're connected directly to your amplifier or receiver.
Wireless Systems:
Wireless systems are the part of home entertainment that enables users to listen to radio, tapes or CDs without plugging in any cables. The wireless hi-fi system market is driven by factors such as increasing demand for music and convenience offered by these devices. Additionally, growing adoption of internet services and portable media players also contribute towards the growth of this market.
Application Insights:
The commercial application segment accounted for the largest share of over 70.0% in 2017 and is projected to witness significant growth over the forecast period. The growing preference for high-end audio systems in hotels, restaurants and other hospitality industries is expected to remain a prominent factor driving product demand in this segment. Furthermore, rising adoption of smart HI-FI systems that offer enhanced features such as Internet connectivity, music streaming from different sources, weather forecasting and translation services are anticipated to drive the commercial application segment further during the forecast period.
The automotive sector accounted for a significant share owing to increasing penetration of Bluetooth technology across various vehicle models globally since past few years. Moreover, growing demand for advanced audio system with premium features including navigation functions on car dashboard is likely to boost market growth during the estimated time frame.
Other applications include residential as well as non-residential sectors such as education institutions (schools/ colleges), government offices (libraries/ museums).
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. This can be attributed to increasing disposable income, growing population, and rising demand for advanced audio systems in countries such as China, India, Japan, South Korea. Increasing penetration of international brands such as Bose Corporation; LG Electronics Inc.; Panasonic Corporation; Sony Corporation; Samsung Group; and Volkswagen Group into these markets is also contributing towards growth. Furthermore North America region has a significant presence of premium car manufacturers who are incorporating high-end audio systems in their vehicles which will drive demand for these products over the next eight years.
Europe region accounted for more than 25% share of global revenue in 2017 owing to strong presence of automobile manufacturers including Audi AG (Germany), BMW AG (Germany), Mercedes-Benz AMBITION (Germany) Porsche Automobile Holding SE (Germany).
Growth Factors:
- Increasing disposable income of consumers: The growth in the HI-FI system market is majorly attributed to the increasing disposable income of consumers, especially in developing countries. This has led to an increase in demand for high-end audio products such as HI-FI systems.
- Technological advancements: Rapid technological advancements have resulted in innovative and advanced HI-FI systems being introduced into the market, thereby attracting a large number of consumers.
- Rising trend of home entertainment: The trend of home entertainment is gaining popularity among consumers, which is resulting in an increase in demand for HI-FI systems.
- Growing inclination towards luxury products: There is a growing inclination among consumers towards purchasing luxury products such as HI-FI systems, which is contributing to the growth of this market segment. 5
Scope Of The Report
Report Attributes
Report Details
Report Title
HI-FI System Market Research Report
By Type
Wired Systems, Wireless Systems
By Application
Residential, Commercial, Automotive, Other
By Companies
Sony, LG Electronics, Bose, Harman International, Onkyo, Bowers & Wilkins Group, Panasonic, Yamaha, Samsung Electronics, Koninklijke Philips, DEI Holdings, Tannoy
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
236
Number of Tables & Figures
166
Customization Available
Yes, the report can be customized as per your need.
Global HI-FI System Market Report Segments:
The global HI-FI System market is segmented on the basis of:
Types
Wired Systems, Wireless Systems
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Residential, Commercial, Automotive, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Sony
- LG Electronics
- Bose
- Harman International
- Onkyo
- Bowers & Wilkins Group
- Panasonic
- Yamaha
- Samsung Electronics
- Koninklijke Philips
- DEI Holdings
- Tannoy
Highlights of The HI-FI System Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Wired Systems
- Wireless Systems
- By Application:
- Residential
- Commercial
- Automotive
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the HI-FI System Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
HI-FI stands for high fidelity. A HI-FI system is a type of audio equipment that produces sound with a higher quality than standard audio equipment. This means that the sound is more accurate and detailed, which can make music or movies sound more enjoyable to listen to or watch.
Some of the major companies in the hi-fi system market are Sony, LG Electronics, Bose, Harman International, Onkyo, Bowers & Wilkins Group, Panasonic, Yamaha, Samsung Electronics, Koninklijke Philips, DEI Holdings, Tannoy.
The hi-fi system market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 HI-FI System Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 HI-FI System Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 HI-FI System Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the HI-FI System Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global HI-FI System Market Size & Forecast, 2020-2028
4.5.1 HI-FI System Market Size and Y-o-Y Growth
4.5.2 HI-FI System Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Wired Systems
5.2.2 Wireless Systems
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Residential
6.2.2 Commercial
6.2.3 Automotive
6.2.4 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global HI-FI System Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 HI-FI System Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Wired Systems
9.6.2 Wireless Systems
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Residential
9.10.2 Commercial
9.10.3 Automotive
9.10.4 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Wired Systems
10.6.2 Wireless Systems
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Residential
10.10.2 Commercial
10.10.3 Automotive
10.10.4 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Wired Systems
11.6.2 Wireless Systems
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Residential
11.10.2 Commercial
11.10.3 Automotive
11.10.4 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Wired Systems
12.6.2 Wireless Systems
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Residential
12.10.2 Commercial
12.10.3 Automotive
12.10.4 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Wired Systems
13.6.2 Wireless Systems
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Residential
13.10.2 Commercial
13.10.3 Automotive
13.10.4 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 HI-FI System Market: Competitive Dashboard
14.2 Global HI-FI System Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Sony
14.3.2 LG Electronics
14.3.3 Bose
14.3.4 Harman International
14.3.5 Onkyo
14.3.6 Bowers & Wilkins Group
14.3.7 Panasonic
14.3.8 Yamaha
14.3.9 Samsung Electronics
14.3.10 Koninklijke Philips
14.3.11 DEI Holdings
14.3.12 Tannoy
