Hi-Fi Speaker System Market –Overview:
The hi-fi speakers are also known as 2-way or 3-way speakers. These speakers is composed of various speaker elements which can imitate the frequencies ranging from 20 Hz to 20 kHz. The special feature of High-Fidelity speaker is that every elements are responsible to imitate the different range of frequency which are generally known as crossover or threshold frequencies. For instance, one element can emit the frequency up to 500 Hz, second 500 Hz to 9 kHz and the third might reproduce the above 9 kHz frequencies. Thus, the advance speaker is developed and designed to imitate and reproduce very precise frequencies at high loudness. However, advancement of technology and increase in demand for wireless speakers is expected to be one of the major propelling factors for the growth of hi-fi speakers. Additionally, with the increasing awareness of internet of things in the industrial and commercial sectors is also considered to be gaining popularity in the Hi-Fi market over the next few years.
Global Hi-Fi speaker system Market is expected to reach approximately USD 7.69 billion by the end of 2023 with 6.20% CAGR during forecast period 2017-2023.
Some of the major players in Global Hi-Fi Speaker System Market include Onkyo Corporation (Japan), Bowers & Wilkins Group Ltd. (England), Yamaha Corporation (Japan), Bose Corporation (U.S.), Panasonic Corporation (Japan), Harman International Inc. (England), LG Electronics Corporation (South Korea), DEI Holdings, Inc. (U.S.), Koninklijke Philips N.V. (Netherland), Samsung Electronics Co., Ltd. (South Korea), Sony Corporation (Japan) and Tannoy Ltd. (England) among others, are profiled in MRFR Analysis and are at the forefront of competition in the global Hi-Fi Speaker System market.
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August 2017, Onkyo introduced the Smart Speaker G3 (VC-GX30) integrating the proficiency and capabilities of the Google Assistant and Chrome cast to built-in multi-room music executing with their much appreciated high-fidelity sound. The newly launched speaker was the Onkyo first speaker to be implemented with Google assistant which will facilitate audio entertainment distribution, voice-controlled information, and home automation in a hands-free package which has ability to provide mesmerizing hi-fi sound.
Feb 2018, Bose Corporation had redefine the sport headphone by launching sound Sports free headphones which provides better sound quality for music. The advance earphones facilitates through charging case which holds the ear bud and increase the storage capacity by two times and increase the charging capacity in 10 hours of battery life.
July 2017, Yamaha revealed level stereo network receiver R-N303D consists of Hi-Fi design and technology. The newly develop stereo network provides analog and digital inputs for direct connections.
The global Hi-Fi Speaker System market segmented into four main regions such as North America, Asia-Pacific, Europe and Rest of the World. The regional segment is further bifurcated into U.S., Canada, Mexico, UK, France, Germany, China, Japan and India.
Asia-Pacific is expected to dominate the global Hi-Fi Speaker System market with the largest market share in the region. China, Taiwan, Japan, India are the leading countries in the region. This is attributed to rapid development in the economy and rise in disposable income. Furthermore, North America is anticipated to have a substantial growth region. The U.S and Canada are leading countries in the region. The robust manufacturing infrastructure in the region is expected to drive the hi-fi speaker system over the review period.
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