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Global Automotive OEM Premium Audio Market (2019-2023) to Grow at Over 5% CAGR; with Bang & Olufsen, Bose, Bowers & Wilkins, Burmester Audiosysteme, HARMAN International, and Meridian Audio Dominating - ResearchAndMarkets.com

February 14, 2019

DUBLIN--(BUSINESS WIRE)--Feb 14, 2019--The “Global Automotive OEM Premium Audio Market 2019-2023” report has been added to ResearchAndMarkets.com’s offering.

The automotive OEM premium audio market will register a CAGR of over 5% by 2023.

The global luxury vehicle market is witnessing growth in popularity and their demand year-on-year, which has accelerated the sales volume of premium or luxury vehicles. Luxury vehicles find a high penetration rate of advanced comfort and convenience functionalities, which also increases their value proposition.

The growth in volume sales of vehicles from such luxury automakers is indicative of the growing market for OEM premium audio systems. This growth is attributable to most of these vehicles being offered with premium audio systems as part of in-car entertainment packages either as standard or optional fitment.

Growing demand for differentiated in-car experiences

The world automotive industry is experiencing a rapid change in dynamics whether it is from buyers end or the supplier’s perspective. The advancements in automotive technology and an increasing penetration rate of automotive electronics in vehicles has intensified the competition in the global automotive market highly. This increase in the penetration of advanced automotive technologies and features in lower variants of mid-segment vehicles has invariably led to high consumer expectations.

Advanced audio system may result in cognitive distraction

The advanced in-car audio systems feature numerous functionalities that can be controlled through voice commands as well. However, this has increased the risk of driver distraction. Automotive experts have found that such systems are increasingly resulting in cognitive distraction, which has a negative impact on driving performance. Therefore, these factors may impede the growth of the global automotive OEM premium audio market during the forecast period.

Competitive Landscape

The market appears to be moderately fragmented and with the presence of several vendors. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.

Key Players

  • Bang & Olufsen
  • Bose
  • Bowers & Wilkins
  • Burmester Audiosysteme
  • HARMAN International
  • Meridian Audio

Topics Covered

PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

PART 03: MARKET LANDSCAPE

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

PART 04: MARKET SIZING

  • Market definition
  • Market sizing 2018
  • Market size and forecast 2018-2023

PART 05: FIVE FORCES ANALYSIS

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry

PART 06: MARKET SEGMENTATION BY APPLICATION

  • Comparison by application
  • Luxury segment vehicles - Market size and forecast 2018-2023
  • Mid-segment vehicles - Market size and forecast 2018-2023
  • Market opportunity by application

PART 07: CUSTOMER LANDSCAPE

PART 08: GEOGRAPHIC LANDSCAPE

  • Geographic comparison
  • APAC - Market size and forecast 2018-2023
  • Europe - Market size and forecast 2018-2023
  • North America - Market size and forecast 2018-2023
  • South America - Market size and forecast 2018-2023
  • MEA - Market size and forecast 2018-2023
  • Key leading countries
  • Market opportunity

PART 09: DECISION FRAMEWORK

PART 10: DRIVERS AND CHALLENGES

PART 11: MARKET TRENDS

  • Developments in the field of advanced automotive sound systems
  • Over-the-air (OTA) updates for advanced in-car infotainment systems
  • Development of headrest integrated speakers and noise canceling headphones for in-car applications

PART 12: VENDOR LANDSCAPE

  • Overview
  • Landscape disruption
  • Competitive scenario

PART 13: VENDOR ANALYSIS

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Bang & Olufsen
  • Bose
  • Bowers & Wilkins
  • Burmester Audiosysteme
  • HARMAN International
  • Meridian Audio

For more information about this report visit https://www.researchandmarkets.com/research/h2cf32/global_automotive?w=4

View source version on businesswire.com:https://www.businesswire.com/news/home/20190214005539/en/

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Related Topics:In Car Entertainment Systems,Telematics and Vehicle Electronics

KEYWORD:

INDUSTRY KEYWORD: TECHNOLOGY HARDWARE AUDIO/VIDEO MANUFACTURING AUTOMOTIVE MANUFACTURING AUTOMOTIVE GENERAL AUTOMOTIVE

SOURCE: Research and Markets

Copyright Business Wire 2019.

PUB: 02/14/2019 09:27 AM/DISC: 02/14/2019 09:27 AM

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