The Hi-Fi (High-Fidelity) systems have facilitated the users to meet up expectations of the sound propagation with a better quality from the digital systems such as CD, DVD, speakers, and sound bars. The HI-FI equipment has further accurate the frequency response and lessened the amount of noise and distortion services. The digitalization of systems has further gained the adoption, the user expectation for the reproduction of sound with the high quality, resolution and fidelity have also increased substantially. The user’s experience of listening music has been further dramatically modified over the previous two generations. The HI-FI system consisted of amplifiers, receivers, network players, DACs, CD players, audio recorders and tuners components.
According to study, “Global Hi-Fi system Market to reach USD 18.5 billion
by 2026” the key companies operating in the global Hi-Fi
system market are Samsung Electronics Co., Sennheiser Electronic GmbH & Co.
KG, Sony Corporation, Panasonic Corporation, Apple Inc., Yamaha Corporation, Bose
Corporation, DEI Holdings, Inc., LG Electronics and Koninklijke Philips N.V. The
companies are started competing by mergers & acquisitions among themselves to
attain the competitive advantage over the market. The key strategies adopted by
players have led to increase the market share is development of the innovative
products.
Based on system, Hi-Fi system market is
bifurcated as device and product. Devices include amplifier, preamplifier, DAC,
and receiver. Product includes DVD player, speaker & soundbar, turntable,
microphone, blu-ray player, CD player, network media player, headphone &
earphone and others. Based on connectivity technology, market is bifurcated as
wired technology and wireless technology. Wired technology includes audio cable
and Ethernet cable. Wireless technology includes Wi-Fi, Bluetooth, AirPlay and
others. In addition, based on application, market is bifurcated as commercial
(multiplex, restaurant, shopping malls and others), residential (home
entertainment), automotive (cars, buses, marine and others).
Based on geography, the North-American region
dominates the global Hi-Fi system market owing to existence of large number of
key market players in the region. Whereas, the European and Asian-Pacific regions
are anticipated to witness higher growth rate due to increase in popularity of
wireless connectivity technology, rise in demand for consumer electronics, such
as smartphones and tablets, large customer base coupled with growth in
purchasing power of consumers over the forecast period. In upcoming years, it
is estimated that future of the global market will be optimistic on account of
growth in requirement for mobility during the forecast period. The global Hi-Fi
system market is valued approximately at US $13 billion in 2019 and is expected
to grow with a healthy growth rate of more than 5.20% over the forecast period
2020 to 2026.
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