Know the facts which are pushing the growth of Global Hi-Fi System Market

The global High-Fidelity (Hi-Fi) system market has experienced a considerable growth due to increasing demand of high quality music among audiophiles. Wireless devices have made its way across various audio products, such as speakers & sound bars, headphones, network media players, and others. The growing demand for wireless audio devices is expected to drive the growth of the global Hi-Fi system market.

Now-a-days, the Hi-Fi market is gaining maximum traction due to its increasing application in automotive sector. The emerging trends witnessed in the Hi-Fi market are increasing demand of wireless Hi-Fi speaker systems in cars, growing demand for home-theatre-in-a-box (HTIB), increasing number of consumers adopting technologies such as smart homes, overall growth in the car segment, and demand for luxury automotive in the developing economies.

The technological advancement in wireless audio devices such as wireless headphones and growing demand for portable devices such as tablets and smartphones are the major growth contributing factors for the global Hi-Fi system market.

Geographically, Asia-Pacific is expected to be the largest market of Hi-Fi systems during the forecast period, owing to factors such as growing population, rapid increase in purchasing power parity (PPP) and technological developments. North America, being a mature market holds second largest share in the global Hi-Fi system market. North America witnessed sustainable growth in the Hi-Fi market during the past years because of the presence of a large number of manufacturers in the region.

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Created on Mar 5th 2019 06:33. Viewed 316 times.

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