Dublin, April 15, 2020 (GLOBE NEWSWIRE) -- The "Hi-Fi System Market by System (Product, Device), Connectivity Technology (Wired, Wireless (Bluetooth, Wi-Fi, Airplay, Others)), Application (Residential, Automotive, Commercial, Others), and Geography - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The Hi-Fi system market is expected to grow from USD 13.6 billion in 2020 to USD 17.5 billion by 2025, at a CAGR of 5.2%.
The market growth can be attributed to several factors such as a rise in demand for infotainment services, high spending on R&D by OEMs, innovations in wireless audio technology, and increasing adoption of portable devices. However, issues related to operating frequency compliance for wireless Hi-Fi systems and health issues about prolonged use of audio devices are expected to hamper the growth of the market.
Wireless connectivity technology expected to register the highest CAGR in the Hi-Fi system market during the forecast period.
The rising adoption of wireless audio systems is expected to drive the market for Hi-Fi systems during the forecast period. The growth of this segment can be attributed to the initiatives undertaken by manufacturers to increase the throughput of wireless audio devices equipped with various advanced technologies that are used in consumer electronics. Wireless technologies have started gaining momentum in the market as they do not require renovation or reconstruction, and minimize the requirement of wires.
Residential application held the largest share of the Hi-Fi system market in 2019.
The growing demand for wireless Hi-Fi systems and the concept of smart homes is expected to drive the market for the residential application. The rise in global demand for smartphones, computers, and tablets equipped with wireless headphones and headsets is also contributing toward the growth of the residential application.
APAC expected to hold the largest share of the market during the forecast period.
APAC held the largest share of the Hi-Fi system market in 2019 in terms of revenue, and the trend is expected to continue during the forecast period. Vast customer base and growing purchasing power of consumers are the major factors contributing toward the growth of the market in APAC. The growing popularity of wireless connectivity technology and the increasing requirement for mobility are also driving the market for Hi-Fi systems in this region. The region is witnessing increased demand for consumer electronics, such as smartphones and tablets, thereby leading to the growth of the Hi-Fi system market in the region.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Major Opportunities in Hi-Fi System Market
4.2 Hi-Fi System Market, by Connectivity Technology
4.3 Hi-Fi System Market in Apac, by System and Country
4.4 Hi-Fi System Market, by Country
4.5 Hi-Fi System Market, by Application
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rise in Demand for Infotainment Services
5.2.1.2 High Spending on R&D by Oems
5.2.1.3 Innovations in Wireless Audio Technology
5.2.1.4 Increasing Adoption of Portable Devices
5.2.2 Restraints
5.2.2.1 Issues Related to Operating Frequency Compliance for Wireless Hi-Fi Systems
5.2.2.2 Health Issues Pertaining to Prolonged Use of Audio Devices
5.2.3 Opportunities
5.2.3.1 Growth of Speakers and Soundbars Market in Emerging Regions
5.2.3.2 Newer, Nonconventional Applications of Headphones
5.2.4 Challenges
5.2.4.1 Delivering High-Quality and Synchronized Audio Through Wireless Hi-Fi Systems
5.3 Value Chain Analysis
5.4 Impact of Covid-19 on Hi-Fi System Market
6 Hi-Fi System Market, by System
6.1 Introduction
6.2 Product
6.2.1 Speaker & Soundbar
6.2.1.1 Increasing Popularity of Wireless Speakers and Soundbars Among Consumers is Expected to Drive this Segment
6.2.2 Cd Player
6.2.2.1 Hi-Fi Cd Player Market is Currently Witnessing Stagnant Growth
6.2.3 Dvd Player
6.2.3.1 Hi-Fi Dvd Player Market is Expected to Decline During Forecast Period
6.2.4 Blu-Ray Player
6.2.4.1 Market for Blu-Ray Player is Expected to Witness Sluggish Growth
6.2.5 Network Media Player
6.2.5.1 Market for Network Media Players to Witness Significant Growth During Forecast Period
6.2.6 Turntable
6.2.6.1 Turntable is Having Negligible Share in Hi-Fi System Market
6.2.7 Headphone & Earphone
6.2.7.1 Over-Ear
6.2.7.1.1 Over-Ear Headphones Are Considered to Be the Best Headphones Among All Categories
6.2.7.2 On-Ear
6.2.7.2.1 On-Ear Headphones Provide High Portability
6.2.7.3 In-Ear
6.2.7.3.1 In-Ear Headphones Are Generally Tiny and Provide High Portability
6.2.8 Microphone
6.2.8.1 Continuous Technological Advancements in Output Sound Quality of Wireless Microphones Are Expected to Fuel Growth of this Segment
6.3 Device
6.3.1 Dac (Digital-To-Analog Converter)
6.3.1.1 Dac Converts Digital Data Streams into Analog Audio Signals
6.3.2 Amplifier
6.3.2.1 Standalone Amplifiers Allow Users to Add More Speakers to a Hi-Fi Stereo System
6.3.3 Preamplifier
6.3.3.1 Preamps Are Used Along With Sound Equipment to Improve Overall Quality of Sound
6.3.4 Receiver
6.3.4.1 Receiver is Used to Capture Signal from Different Sources
7 Hi-Fi System Market, by Connectivity Technology
7.1 Introduction
7.2 Wired
7.2.1 Ethernet Cable
7.2.1.1 Ethernet Cable is One of the Popular Forms of Wired Audio Technology
7.2.2 Audio Cable
7.2.2.1 Audio Cables Transfer Analog or Digital Signals from An Audio Source to An Amplifier or Powered Speaker
7.3 Wireless
7.3.1 Bluetooth
7.3.1.1 Cost-Effectiveness and Compatibility Associated With this Technology is Driving Market of Audio Devices Equipped With Bluetooth
7.3.2 Wi-Fi
7.3.2.1 Secured Operation Carried Out by Wi-Fi-Enabled Audio Devices Leading to Growth of this Technology
7.3.3 Airplay
7.3.3.1 Increased Use of Airplay Technology for Wireless Streaming on Devices Supported by Apple
7.3.4 Others
7.3.4.1 Skaa
7.3.4.2 Sonos
7.3.4.3 Play-Fi
7.3.4.4 RF and IR
8 Hi-Fi System Market, by Application
8.1 Introduction
8.2 Residential
8.2.1 Increased Use of Wireless Audio Systems for In-Home Application is Fueling Growth of Hi-Fi System Market in Residential Application
8.3 Automotive
8.3.1 Rising Demand for Premium Audio Systems in Luxury Automobiles to Spur Growth of Hi-Fi System Market
8.4 Commercial
8.4.1 Preference for High-End Audio in Commercial Places is Driving Growth of Hi-Fi Systems in this Application
8.5 Others
8.5.1 Increasing Demand for Hi-Fi Headphones and Microphones in Security and Military Applications is Driving Growth of Others Segment
9 Geographic Analysis
9.1 Introduction
9.2 North America
9.2.1 US
9.2.1.1 Presence of Majority of Wireless Audio Device Manufacturers in the Country is Fueling Growth of Hi-Fi System Market in US
9.2.2 Canada
9.2.2.1 Preference of Canadian Population to Adopt Innovative Products Contributing to Growth of Hi-Fi System Market
9.2.3 Mexico
9.2.3.1 Growing Investments in Consumer Electronics Industry of Mexico Lead to Growth of Hi-Fi System Market
9.3 Europe
9.3.1 Germany
9.3.1.1 Popularity of Wireless Streaming Speakers and Premium Soundbars to Boost Hi-Fi System Market in Germany
9.3.2 UK
9.3.2.1 Willingness of Users to Invest in Wireless Audio Devices to Fuel Growth of Market in UK
9.3.3 France
9.3.3.1 Rising Demand for Audio Devices in Home Entertainment Application to Spur Growth of Hi-Fi System Market in France
9.3.4 Spain
9.3.4.1 Growing Demand for Hi-Fi Speakers Will Lead to Growth of Hi-Fi System Market in Spain
9.3.5 Rest of Europe
9.4 Apac
9.4.1 China
9.4.1.1 Geographical Expansion by International Wireless Audio Device Manufacturers is Expected to Lead to Growth of Hi-Fi System Market in China
9.4.2 Japan
9.4.2.1 Rise in Demand for Consumer Electronics Equipped With Wireless Audio Technology to Spur Growth of Hi-Fi System Market in Japan
9.4.3 Australia
9.4.3.1 Adoption of Innovative Audio Technologies Among Consumer Groups to Boost Growth of Hi-Fi System Market in Australia
9.4.4 India
9.4.4.1 Government Initiatives Such as Make in India Are Fueling Demand for Consumer Durables in India
9.4.5 Rest of Apac
9.5 Rest of the World (Row)
9.5.1 South America
9.5.1.1 Brazil and Argentina Are Potential Markets for Hi-Fi Systems In
South America 104
9.5.2 Middle East
9.5.2.1 Surge in Demand for Wireless Speakers and Wireless Headphones to Fuel Growth of Hi-Fi System Market in Middle East
9.5.3 Africa
9.5.3.1 South Africa Holds Significant Share in Hi-Fi System Market
10 Competitive Landscape
10.1 Introduction
10.2 Ranking Analysis of Key Players in Hi-Fi System Market
10.3 Competitive Situations and Trends
10.3.1 Product Launches
10.3.2 Partnership
10.3.3 Acquisition
10.4 Competitive Leadership Mapping, 2019
10.4.1 Visionary Leaders
10.4.2 Innovators
10.4.3 Dynamic Differentiators
10.4.4 Emerging Companies
11 Company Profiles
11.1 Key Players
11.1.1 Samsung Electronics Co. Ltd.
11.1.2 Sony Corporation
11.1.3 Apple Inc.
11.1.4 Bose Corporation
11.1.5 Sennheiser Electronic GmbH & Co. Kg
11.1.6 Lg Electronics
11.1.7 Panasonic Corporation
11.1.8 DEI Holdings, Inc.
11.1.9 Yamaha Corporation
11.1.10 Koninklijke Philips N.V.
11.2 Right to Win
11.3 Other Important Players
11.3.1 Bowers & Wilkins
11.3.2 Tannoy Ltd.
11.3.3 Voxx International Corporation
11.3.4 Sonos, Inc.
11.3.5 Vizio Inc.
11.3.6 Onkyo Corporation
11.3.7 Bang & Olufsen
11.3.8 Plantronics, Inc.
11.3.9 Dali A/S
11.3.10 Human Inc.
11.3.11 Linn Products
11.3.12 Cambridge Audio
For more information about this report visit https://www.researchandmarkets.com/r/4y8oyt
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900