Global Automotive Premium Audio System Market was valued US$ 14.2 Million Units in 2017 and is estimated to reach US$ 21.2 Million Units by 2026 at a CAGR of 5.14%.
Global Automotive Premium Audio System Market
Global automotive premium audio systems market is fragmented since the market has a number of companies that offer numerous products such as colocation data centre, managed hosting services, and interconnection and cloud enablement solutions. This automotive audio systems industry analysis will help clients in identifying new growth opportunities and designing new growth strategies.
A key factor driving the growth of the automotive premium audio system market is improved sound quality and control. Time spent in passenger cars by consumers is increasing owing to traffic congestion and an increase in daily work commute by personal vehicles. So, audio systems have become important equipment for drivers and occupants for in-car entertainment. Automotive premium audio systems are designed to create superior sound quality and performance that are desirable by customers. A trend in the market is the development of a 34-speaker premium audio system.
Luxury cars segment will account for the largest share of the market Luxury car manufacturers are equipping models with premium audio systems as a standard fitting. So, the improved sound quality, control, and other superior features are driving the growth in the automotive premium audio systems market globally.
The Asia Pacific is expected to be the fastest growing market in the global automotive premium audio system market during the forecast period. Increasing the production of vehicles and high demand for electric vehicles in economies that are China and Japan are expected to drive the growth of the market in the Asia Pacific. China led the electric vehicles market in 2017, accounting for sales of over 40% of the electric cars worldwide. So, increasing sales of electric vehicles are expected to propel demand for the automotive premium audio system, thereby boosting the market growth over the forecast period.
Global automotive premium audio system market report includes PESTLE analysis, competitive landscape, and Porter’s five force model. Market attractive analysis wherein all the segments are benchmarked based on the market size, growth rate, and general attractiveness.
Key players operating in global automotive premium audio system market, Bose Corporation, Bowers & Wilkins, Harman International Industries, Inc., Klipsch Audio Technologies, Bang & Olufsen, Alpine Electronics, Inc., Sonos, Onkyo Corporation, Panasonic Automotive System, Blaupunkt GmbH, and QSC, LLC.
Scope of Global Automotive Premium Audio System Market
Global Automotive Premium Audio System Market, by Product type
• 6 Disc
• 8 Disc
• 10 Disc
• 12 Disc
Global Automotive Premium Audio System Market, by Application
• Luxury Cars
• Mid-size Passenger Cars
Global Automotive Premium Audio System Market, by Sales Channel
• After Market
Global Automotive Premium Audio System Market, by Region
• North America
• Asia Pacific
• Middle East and Africa
• South America
Key players operating in Global Automotive Premium Audio System Market
• Bose Corporation
• Bowers & Wilkins
• Harman International Industries, Inc.
• Klipsch Audio Technologies
• Bang & Olufsen
• Alpine Electronics, Inc.
• Onkyo Corporation
• Panasonic Automotive System
• Blaupunkt GmbH
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