Automotive premium audio system is primarily installed in luxury cars. Major advantages of using premium audio system over conventional audio system is that it requires less space and delivers high-quality sound without any vibrations. Moreover, car manufacturers are focusing on installing premium audio systems as the system’s high-efficiency speakers require less power and deliver high-quality sound while consuming minimal space in the vehicle.
Market Dynamics:
In 2022, London drivers spend a whopping 325 hours (nearly 13.5 days) a year stuck in rush hour traffic. The city has been ranked as the most congested in the world, in the TomTom Traffic Index Ranking 2022. As a result, consumers are seeking high-quality audio systems to enhance their driving experience and make their time in the car more enjoyable. Technological advancements in premium audio systems are also a major influencer.
Automotive premium audio systems are believed to have the potential to distract drivers, which could lead to road accidents. This is expected to further limit revenue growth. High cost of ownership and maintenance is also a limiting factor.
Key features of the study:
- This report provides in-depth analysis of the global Automotive Premium Audio System Market, and provides market size (US$ Billion) and compound annual growth rate (CAGR%) for the forecast period (2023–2030), considering 2022 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global Automotive Premium Audio System Market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include 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.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global Automotive Premium Audio System Market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global Automotive Premium Audio System Market
Detailed Segmentation:
- Global Automotive Premium Audio System Market, By Product
- 6 Disc
- 8 Disc
- 10 Disc
- 12 Disc
- Global Automotive Premium Audio System Market, By Application
- Passenger Cars
- Commercial Vehicles
- Heavy Commercial Vehicles
- Light Commercial Vehicles
- Global Automotive Premium Audio System Market, By Sales Channel
- Original Equipment Manufacturer
- After Market
- Global Automotive Premium Audio System Market, By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
- Company Profiles:
- Bose Corporation
- Bowers & Wilkins
- Harman International Industries Inc
- Blaupunkt GmbH
- Panasonic Corporation
- QSC, LLC
- Sonos, Inc.
- Alpine Electronics, Inc.
- Bang & Olufsen
- Klipsch Audio Technologies
- Onkyo Corporation
