PUNE, India, May 19, 2016 /PRNewswire/ --
The report " Hi-Fi System Market By Product (Speakers & Sound Bars, Network Media Players, Blu-Ray Players, Dvd Player, Headphones), Device (Dac, Amplifier, Preamplifier, & Receiver), Connectivity Technology, Applications, And Geography Global Forecast To 2022", published by MarketsandMarkets, The market is expected to grow from USD 10.62 Billion in 2015 to USD 16.49 Billion by 2022, at a CAGR of 6.4% between 2016 and 2022.
(Logo: http://photos.prnewswire.com/prnh/20160303/792302 )
Browse 93 market data Tables and 111 Figures spread through 215 Pages and in-depth TOC on "Hi-Fi System Market"
http://www.marketsandmarkets.com/Market-Reports/hi-fi-system-market-208988066.html
Early buyers will receive 10% customization on this report.
The technological advancements in the wireless technologies have changed the way people communicate as well as listen to music. There is an increase in the demand for wireless audio devices such as speakers, sound bars, headphones, network media players, and so on since these devices allow the users to control all their music effortlessly; to use wireless Hi-Fi audio devices without any compromise and without any problem. The end users' demand for such devices arises not only from the consumers and home applications but also from the commercial and other niche applications such as security, military, and automotive. The growing demand for infotainment services and increasing adoption of wireless devices are the major drivers for the Hi-Fi system market.
Speaker & sound bar market to play a key role in the Hi-Fi system market
The speaker & soundbar product category is expected to hold the largest market share and dominate the Hi-Fi system market between 2016 and 2022, owing to the increasing adoption of wireless devices across the globe. Huge growing preference for the wireless connectivity has put forth a fact that almost all speaker categories are now being re-designed to incorporate wireless connectivity. The Bluetooth speakers are one of the most popular categories within the wireless Hi-Fi speakers. The size, design, and connectivity make them a demanding product.
Residential application held the largest market share in 2015
The residential application is expected to hold the largest market share and dominate the Hi-Fi System Market between 2016 and 2022. The wireless Hi-Fi audio products are gaining a ground from the consumers in the in-home application due to serial technological innovations in these products. Bluetooth technology is particularly incorporated in the home audio products, and the use of Wi-Fi-enabled products is also gaining the market share.
APAC expected to hold the largest market share and is expected to grow at the highest rate
APAC is expected to hold the largest market share and dominate the Hi-Fi market between 2016 and 2022. The growing population, rapid increase in the purchasing power parity (PPP), and adoption of innovative technologies are the reasons for the high growth rate in the region. However, the wireless Hi-Fi audio products are an expensive purchase decision for majority of the APAC consumers. Nonetheless, the ease of operations and portability justify their costly prices over the traditional audio systems. This is the main factor driving the growth of the Hi-Fi system market in the region.
However, the Hi-Fi system market in the North America poses a steady growth and accounts for the second-largest market. Despite being a mature market, the growth in the North American market is highly sustainable because of the presence of a large number of manufacturers in the region.
The scope of the report covers detailed information regarding the major factors influencing the growth of the Hi-Fi system market such as drivers, restraints, challenges, and opportunities. A detailed analysis of the key industry players has been done to provide insights into their business overview, products & services, key strategies, new product launches, mergers & acquisitions, partnerships, agreements, collaborations, and recent developments associated with the Hi-Fi system market.
Inquiry Before Buying: http://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=208988066
The major vendors in the Hi-Fi system market include Onkyo Corporation (Japan), Bowers & Wilkins (U.K.), Bose Corporation (U.S.), Panasonic Corporation (Japan), Yamaha Corporation (Japan), DEI Holdings Inc. (U.S.), and Harman International, Inc. (U.S.) among others. These players adopted various strategies such as new product developments, mergers, partnerships, collaborations, and business expansion to cater to the needs of the Hi-Fi system market.
Browse Related Reports
Wireless Audio Market by Product (Soundbar, Speaker, Headphones, Headset), Technology (Bluetooth, Wi-Fi, Sonos, AirPlay), Application (Home Audio, Consumer, Automotive, Commercial) and Geography - Global Forecast to 2022
http://www.marketsandmarkets.com/Market-Reports/wireless-audio-device-market-1275.html
Audio Codec Market by Component (Hardware and Software), Channel Type (Mono-Codec, Stereo Codec, and Multi-channel Codec), Compression Type (Non-Compression, Lossless Compression, and Lossy Compression), Application, & Geography - Global Forecast to 2022
http://www.marketsandmarkets.com/Market-Reports/audio-codec-market-225395818.html
About MarketsandMarkets
MarketsandMarkets is the world's No. 2 firms in terms of annual published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical info graphics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Contact:
Mr. Rohan
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta City, Hadapsar
Pune, Maharashtra 411013, India
Tel: + 1-888-600-6441
Email: [email protected]
Visit MarketsandMarkets Blog@ http://www.marketsandmarketsblog.com/market-reports/electronics-and-semiconductors
Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets
Visit MarketsandMarkets @: http://www.marketsandmarkets.com
Share this article