About Hi-Fi Audio Products
Hi-Fi (High Fidelity) audio products are refer as the premium quality audio instrumentation which are custom-built with the best quality merchandise. These products are most generally utilized by audiophiles, avid listeners, and residential audio enthusiasts. They're usually characterised by numerous covetable options like noise cancellation, NFC/Bluetooth speakers, bit management settings, Wi-Fi property, and diverse good functions. Hi-Fi audio products supply the foremost superior-quality, cleanest audio that adds to the general listening expertise. Such Hi-Fi audio products may be customized as required by the user necessities, taste, preferences, and budget. They're widely offered in each wired and wireless forms and reproduce sound signals with utmost clarity
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The global market is highly competitive and consists of a limited number of providers who compete with each other. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth. Analyst at AMA Research estimates that United States and Japanese Players will contribute the maximum growth to Global Hi-Fi Audio Products market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Samsung Electronics Co. (South Korea), Sony Corporation (Japan), Apple Inc. (United States), Bose Corporation (United States), Sennheiser Electronic GmbH & Co. KG (Germany), Yamaha Corporation (Japan), LG Electronics (South Korea), Panasonic Corporation (Japan), DEI Holdings, Inc. (United States) and Koninklijke Philips N.V. (Netherlands) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Onkyo Corporation (Japan) and Sonos, Inc. (United States).
Segmentation Overview
AMA Research has segmented the market of Global Hi-Fi Audio Products market by Type (Speaker & Sound bar, CD player, DVD player, Blu-ray player, Network media player, Turntable, Headphone & Earphone and Microphone), Application (Residential, Automotive, Commercial and Others) and Region.
On the basis of geography, the market of Hi-Fi Audio Products has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Asia Pacific region held largest market share in the year 2023. North America, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Device, the sub-segment i.e. DAC will boost the Hi-Fi Audio Products market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Connectivity Technology, the sub-segment i.e. Wired will boost the Hi-Fi Audio Products market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
High spending on R&D by OEMs and The rise in demand for wireless audio devices in commercial and niche applications such as security, military and automotive
Market Growth Drivers:
Increasing adoption of portable devices and Rising demand for home entertainment and infotainment devices
Challenges:
Delivering high-quality and synchronized audio through wireless Hi-Fi products
Restraints:
Issues related to operating frequency compliance for wireless Hi-Fi products and Health issues pertaining to prolonged use of audio devices
Opportunities:
Growth of speakers and sound bars market in emerging regions and Newer, nonconventional applications of headphones
Market Leaders and their expansionary development strategies
In June 2023, Audio Research Corporation acquired by AR Tube Audio Corporation, a privately-owned Delaware-based corporation which includes Valerio Cora of Acora Acoustics Corporation as a director. Audio Research will operate independently from Acora Acoustics, an Ontario-based high-performance loudspeaker corporation. The acquisition was approved by a judge after an asset purchase agreement was made with Lighthouse Management Group.
In August 2019, HARMAN, a subsidiary of Samsung Electronics, launched a lifestyle audio brand in the Indian market - Infinity by HARMAN. As part of the brand launch, the company launched 11 new audio products, including six Infinity headphones, four portable Bluetooth speakers, and a multimedia 2.1 Bluetooth system.
Key Target Audience
Hi-Fi Audio Products Manufactures, Hi-Fi Audio Products Distributors and Suppliers, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.