Hi-Fi System Market Is Poised to Reflect 5.2% CAGR by 2025 | 150 Pages Report

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 growth is driven by factors such as the rise in demand for infotainment services, high spending on R&D by OEMs, innovations in wireless audio technology, and increasing adoption of portable devices.

Hi-Fi System Market Dynamics

Driver: Innovations in wireless audio technology

The wireless technology has made successful inroads across all the product segments of consumer electronics, and the audio technology industry has benefitted from this. Throughout this shift toward wireless, demand for advanced sound quality continues to be the crucial parameter among audio consumers globally.

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Opportunity: Newer, non-conventional applications of headphones

Headsets are expected to help in the measurement of vitals of the body of users and track them during their workouts. Wireless headphones can also be paired with Amazon’s Alexa voice assistant to allow wearers to control connected home electrical appliances, such as thermostats and lights, remotely through verbal commands. Companies are making efforts to offer an engaging on-the-go Alexa experience to customers by making their headphones, headsets, or earbuds compatible with Alexa.

Challenge: Delivering high-quality and synchronized audio through wireless Hi-Fi systems

Wireless audio engineers are facing the challenge of not being able to deliver high-quality and synchronized audio streams in real-time using the wireless technology. Bandwidth constraints, delays in coding, and bit errors affect the wireless audio transfer. Innovations in wireless technologies, such as Bluetooth and Wi-Fi, have provided advantages such as receiving digital audio wherever and whenever required. However, the convergence of audio with video in the spectrum of consumer devices poses quality challenges for manufacturers. The availability of full bandwidth is impractical, and the required bandwidth cannot be made available for every application.

Hi-Fi system market for product segment expected to grow at the highest CAGR during the forecast period

Based on the system, the market has been divided into products and devices. The product segment, which includes speaker & soundbar, CD player, DVD player, Blu-ray player, network media player, turntable, headphone & earphone, and microphone products, has a higher market share currently and expected to grow at the higher rate during the forecast period. Of these, the speaker & soundbar segment holds the largest share of the Hi-Fi system market. Speakers and soundbars are compatible with TV sets, smartphones, music systems, gaming consoles, etc., and can be connected to them through different media sources such as High-Definition Multimedia Interface (HDMI), Bluetooth, Wi-Fi, and Universal Serial Bus (USB). Due to their portability and ease of use, wireless speakers and soundbars are getting immensely popular.

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APAC expected to grow at highest CAGR during the forecast period

The Hi-Fi system market is rapidly expanding in APAC. Vast customer base and increasing 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 demand for Hi-Fi systems in this region.

Some of the key companies operating in the market are Samsung Electronics Co. (South Korea), Sony Corporation (Japan), Apple Inc. (US), Bose Corporation (US), Sennheiser Electronic GmbH & Co. KG (Germany), LG Electronics (South Korea), Panasonic Corporation (Japan), DEI Holdings, Inc. (US), Yamaha Corporation (Japan), Koninklijke Philips N.V. (Netherlands), Onkyo Corporation (Japan), and Sonos, Inc. (US).

TABLE OF CONTENTS

5 MARKET OVERVIEW (Page No. - 36)

??? 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

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6 HI-FI SYSTEM MARKET, BY SYSTEM (Page No. - 42)

??? 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 (Page No. - 65)

??? 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