Advent of wireless technology coupled with
the rising demand for speakers and home theaters from residential sector is
expected to drive global Hi-Fi system market through 2022
According
to TechSci Research report, “Global Hi-Fi System Market By System, By Technology, By Application, By Region,
Competition Forecast & Opportunities, 2012 - 2022”,
the global Hi-Fi system market is projected to surpass $ 18 billion by 2022.
Anticipated growth in the market is led by increasing purchasing power of
consumers in developing countries and rising youth population getting more
aware about technology than ever before. With the booming media and entertainment sector, demand for high quality
audio, and consequently, Hi-Fi systems is also growing. Gaming companies are
increasingly focusing on offering a more immersive consumer experience, which
is making the gamers to purchase Hi-Fi audio equipment to indulge in wholesome
gaming experience. The advent of wireless technology is spreading rapidly in
the residential, commercial and automotive sectors, which in turn, is expected
to boost demand for wireless technology enabled Hi-Fi audio systems through the
forecast period.
Browse 97 data
Tables and 99 Figures spread through 187 Pages and an in-depth TOC on
"Global
Hi-Fi System Market" https://www.techsciresearch.com/report/global-hi-fi-system-market/2090.html
On the basis of
system, the global Hi-Fi system market is segmented into
Product, Device and Digital Audio Player (DAP). Product segment leads the
global Hi-Fi system market and is expected to dominate
during the forecast period as well on the back of increasing availability and
adoption of sound systems. However, DAP is expected to grow at the
fastest pace during the forecast period owing to the increasing awareness among
consumers and audiophiles about the high-resolution audio quality produced by
such devices. In the technology segment,
wireless technology is growing at a rapid pace owing to the widespread adoption
and incorporation of the technology in majority of the audio devices.
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Among regions, North
America is the largest Hi-Fi system
market on account of the region’s tech-savvy population and high
per capita income, followed by Europe and Asia-Pacific. However, Asia-Pacific
is anticipated to be the fastest growing region in the global Hi-Fi system market during the forecast period. In 2016, Sony
Corporation was the largest player in the global Hi-Fi system
market, followed by LG Electronics, Inc., Samsung Electronics Co.,
Ltd., and Bose Corporation, among
others. “Innovations in wireless technology is stimulating
growth in the global Hi-Fi system market. Moreover, digitalization of
systems and rising popularity of lossless formats is further expected to surge
demand for Hi-Fi systems, globally, during the forecast period. Additionally, rising
awareness among users, especially youngsters, about high resolution audio would
further steer market growth in the coming years.” said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
“Global Hi-Fi System Market By System, By Technology, By Application, By Region,
Competition Forecast & Opportunities, 2012 - 2022” has evaluated the future growth potential of
Hi-Fi system market and has also provided statistics and information on market
structure, size, share and trends. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities prevalent in the global Hi-Fi
system market.
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