Published Date : Dec 04, 2017
ALBANY, New York, Dec 4, 2017: MarketResearchReports.biz has recently added a new market study to its repository, titled “HI-FI System Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024.” According to the report, the HiFi system market is experiencing extensive growth in recent times on account of the rapidly advancing wireless technology. The growth of the automotive sector is also in a way fuelling the growth of the HiFi system market as these systems are used in cars for listening to music. The trend of smart homes and the high demand for home theatre in a box (HTiB) is also fueling the growth of the Hi-Fi systems market across the globe. Additionally the growing adoption of portable and mobile devices such as smartphones, tablets, laptops, and online services have also boosted the growth of wireless audio products in Hi-Fi system.
With Hi-Fi systems, users are able to meet their high expectations of sound reproduction with enhanced quality. As these systems reduce the amount of noise and distortion and have accurate frequency response, the demand for Hi-Fi systems is expected to continually grow in the years to come. With the increased adoption of digitization, the expectations of users with regards to listening to music such as high sound quality, fidelity, and resolution has also increased. Today the experience of users of listening to music has dramatically been revolutionized and the credit goes to Hi-Fi systems which comprise of tuner components, amplifiers, DACs, network players, receivers, CD players, and audio recorders.
Along with a detailed discussion of the various factors fuelling the growth of the Hi-Fi system market, this report consists of an equally long discussion on the key factors that may have a negative impact on the market and hamper its growth. Technology barriers are one of the factors that will restrain the growth of this market. In addition to this, government policies could also limit the growth of the market.
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On the basis of Technology the Hi-Fi system market is segmented into wireless Hi-Fi systems and wired Hi-Fi systems. On the basis a product, the global Hi-Fi system market is segmented into headphones, Blu-ray players, network media players, DVD players, soundbars, and speakers. By geography, the market may be segmented into the Middle East and Africa, Asia Pacific, North America, South America, and Europe. Of these regions, it is estimated that Asia Pacific will lead in the Hi-Fi system market on account of the growing usage of portable devices. The report also states that Latin America is estimated to provide a high scope of growth opportunity for the Hi-Fi system market in the years to come. North America is already recognized to have a steady growth in the market for Hi-Fi system. The presence of a large number of manufacturers of these systems in the region is a key factor behind the growth of the market.
The author of this report states that players within the market are competing among themselves for introducing innovative products so as to gain a competitive advantage. Companies are providing technological upgrades to their product series so that customers can use latest technology and remain loyal customers even in the future. Some of the key companies within the Hi-Fi system market include: Sony Corporation, Bowers & Wilkins, Bang & Olufsen, Panasonic Corporation, Sonos, Inc., Koninklijke Philips N.V., Corporation (Japan) Harman International, Inc., Arcam, Marantz (D&M Holdings Inc.), Bose Corporation, McIntosh Laboratory, Inc., Onkyo Corporation, OPPO Digital, and DEI Holdings Inc.
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