Global Hi-Fi Speaker System Market Synopsis:
The global Hi-Fi Speaker System Market is highly competitive.
Various established international brands, domestic brands and as well as new
entrants form a competitive landscape. The key players are nonstop increasingly
seeking market expansion through various strategic mergers and acquisitions,
innovation, increasing investments in research and development and
cost-effective product portfolio.
The Hi-Fi speaker system market is highly
competitive due to the presence of several large vendors. The competition among
the vendors will intensify due to the increase in product extensions and
various above mentioned factors. The players in the Hi-Fi speaker system market
compete on the basis of the factors such as technology, features, design and
compatibility. The vendors or the manufacturers are continuously coming up with
new ideas and technologies to gain competitive advantage over their
competitors.
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Key Players
The key players in the 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.
Regional Analysis
The global Hi-Fi speaker system market is expected
to grow significantly over the forecast period, 2017-2023. Academic segment of
Hi-Fi speaker system market globally drives the market majorly due to growing
consumer electronics market and adoption of wireless connectivity
The market is expected to have higher growth rate as
compared to the previous years due to the booming electronic industry globally.
It is due to the rising income of individuals globally and increasing
affordability of technology products globally. It gives willingness push to
Hi-Fi speaker system market in future prospective.
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 region hold the largest share of the
total Hi-Fi speaker system market in terms of revenue. It is due to the
presence of some leading Hi-Fi speaker system providers in the region. Samsung
Electronics Co., Ltd., Onkyo Corporation, Yamaha Corporation, Panasonic
Corporation are well known leading industry participants located in Asia
Pacific. Recently, in October 2017, Digitek, an Indian market leader in
Photographic & amp; smartphone accessories introduced its brand new
bluetooth Speaker, DBS-011 with in-built
digital decoder for decoding and playing Mp3 files and low distortion 20W Power
Amplifier with Bass Control, the 5.25” hi-fi speaker produces high fidelity,
rich sound. In September 2017, Xiaomi has launched a new compact Bluetooth
speaker named 'Mi Bluetooth Speaker Basic 2' having two 2.5W speakers that can
produce high-fidelity sound over Bluetooth. Booming automotive industry in
China and India is expected to surge the Hi-Fi speaker system market at fast
pace.
Due to technological adoption and smart gadgets,
North America region is showing steady growth in the Hi-Fi speaker system
market. North America is the second largest region for the Hi-Fi speaker system
market. Bose Corporation, DEI Holdings, Inc. are some of the leading industry
participants of the Hi-Fi speaker system market headqured in U.S.
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