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Global Hi-Fi System Market Trends, Size, and Forecast - 2019-2025

May 4th 2020 at 4:26 AM

The global negative hi-fi system market is projected to exhibit modest growth, at a CAGR of around 5.4%, during the forecast period. Rising per capita disposable income and growing awareness towards safety has increased the demand for more feature-rich cars across the globe. These factors are expected to contribute to the growth of the global hi-fi system market. Moreover, the growing trend of vehicle electrification; the advent of technologies such as connected cars and the Internet of Things (IoT); and increased automotive manufacturing companies’ focus towards passenger’s centric features are further likely to act as driving factors for the market growth.

The rise of infotainment systems is one of the biggest developments over the period. Automobile infotainment systems comprise entertainment and information delivery systems for drivers and passengers who typically use audio and video interfaces, touchscreens and keypads. With the enhanced trend of connectivity in the automotive industry, the manufacturers in this industry are taking benefits of advanced technologies such as big data analysis, IoT and AI for enhancing the business operation. Connected car for the consumers is the integration of traffic and navigation information, entertainment, and advanced features including remote diagnostics and maintenance, safety and emergency assistance.

Request a free sample of our report on Global Hi-Fi System Market: https://www.omrglobal.com/request-sample/hi-fi-system-market

The development and validation of a high-fidelity dynamics model of an electric vehicle is introduces in recent past few years. The high-fidelity electric vehicle model will be used in future work to test and validate new power management controllers. Therefore, with the growth of the electric vehicles market, the market for the hi-fi system is also expected to grow in the near future. The electric vehicle market is driven by rising environmental concerns and increasing government support, electric mobility is expanding at a rapid pace across the globe. Governments are banning the internal combustion engine vehicles following the increasing environmental issues. For instance, Norway is planning to phase out conventional cars by 2025, followed by France and UK in 2040 and 2050 respectively. Moreover, in October 2017, Germany’s Bundesrat passed a resolution to ban IC engine-based vehicles by 2030.

Governments of several nations are focusing on the development of infrastructure to roll-out the EVs to curb the rising pollution level and progress along with sustainable development. For instance, in July 2019, the government of India reduced Goods and Service Tax (GST) on electric vehicles from 12% to 5%. In April 2019, the Indian government launched the second phase of FAME (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles) scheme to boost the EVs sales in the country. This would lead to an expansion of the country’s EVs fleet size in the near future. Such wide growth prospects for the electric vehicle market will further contribute to the growth of the global hi-fi system market.

A full report of Global Hi-Fi System Market is available at: https://www.omrglobal.com/industry-reports/hi-fi-system-market

Global Hi-Fi System Market-Segmentation

By System Type

  • Devices

oHeadphones and Earphones

oSpeakers and Sound Bars

oCD Players

oNetwork Media Players

oOthers (DVD Player and Blu-Ray Player)

  • Components

oAmplifiers

oCables

oReceivers

oOthers (Digital-to-Analog Converter (DAC))

By Connectivity

  • Wired

  • Wireless

By Application

  • Residential

  • Commercial

By Region

North America

  • United States

  • Canada

Europe

  • Germany

  • UK

  • France

  • Spain

  • Italy

  • Rest of Europe

Asia-Pacific

  • China

  • Japan

  • India

  • Rest of Asia-Pacific

Rest of the World

  • Latin America

  • Middle East and Africa

Company Profiles

  • Apple Inc.

  • Amazon.com, Inc.

  • Audioengine LLC

  • B & W Group Ltd.

  • Bose Corp.

  • Edifier International Ltd.

  • ELAC Electroacustic GmbH

  • GESSI SPA

  • HiBy Music

  • High Fidelity Cables

For more customized data, request for report customization @ https://www.omrglobal.com/report-customization/hi-fi-system-market

About us:

Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.

 

For More Information, Visit https://www.omrglobal.com/

Media Contact:

Company Name: Orion Market Research

Contact Person: Mr. Anurag Tiwari

Email: info@omrglobal.com

Contact no: +1 646-755-7667, +91 780-304-0404

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