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Hi-Res Audio Market set for further growth

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Goh Beng Yeow
Goh Beng Yeow, the Founder / Editor at Porta-Fi™, is a recipient of the IT Youth Award in Singapore. Twice nominated for EY Entrepreneur of the Year Awards, Beng Yeow has previously founded startups such as PDALive.com, Coded Pixels Consultants and was a Tech writer for TODAY, a national daily newspaper under MediaCorp. Since 2017, he has been writing, editing and producing commentaries, interviews, news and reviews on Porta-Fi™. In 2019, Beng Yeow was appointed Advisor to LHDC™, the industry's latest low latency and high-definition Bluetooth audio codec.

Hi-Res Audio and Hi-Res Music Logo

According to Market Research firm NPD Group, sales of Hi-Res Audio devices grew 77 percent from 2014 to 2016, while unit sales grew 118 percent. NPD Group classifies flash-memory players, receivers and amplifiers, sound bars, stereo headphones and streaming-audio speakers as Hi-Res Audio devices and attributes the greater availability of Hi-Res Audio products as the key growth driver.

Between the 1st half of 2016 and the 1st half of 2017, the number of Hi-Res Audio capable headphones on the market grew 127 percent with average selling price of the headphones dropping 14 percent, increasing accessibility to the end users. It is also interesting to note from the research report that the Hi-Res Audio capable headphones command an average selling price that is four times higher than that of their non Hi-Res Audio capable counterparts.

The research firm believes that consumer electronics retailers are set to benefit from a surge in demand for Hi-Res audio capable gears alongside specialist audio retailers. Citing that the recent announcements by smartphone manufacturers launching hi-res audio capable smartphones coupled with increased consumer awareness for Hi-Res music as labels delivering remastered Hi-Res Music content will catalyze demand for Hi-Res Audio products from general consumers.

Receivers and amplifiers top the Hi-Res Audio product category, referencing in U.S. dollar sales, Yamaha was No. 1 for January through June period of this year, followed by Denon, Onkyo, Marantz and Sony respectively.

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