DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/5qcn9v/global_oem) has announced the addition of the "Global OEM Premium Audio Market 2014-2018" report to their offering.
The analysts forecast the Global OEM Premium Audio market to grow at a CAGR of 12.91% over the period 2013-2018.
Modern day vehicles are equipped with state-of-the-art AV entertainment systems to enhance the driving experience. Premium audio systems are those with surround sound, eight or more speakers, and power amplification of more than 400 watts. These systems are used in luxury and high-end vehicles. Automotive audio systems are gaining popularity as newer vehicles come with factory-fitted premium audio systems, making them comparatively cheaper than when purchased separately. OEMs focus on providing these systems to attain product differentiation in the Automotive market. Additionally, an increase in the number of audio system suppliers has escalated the competition between the players in the market.
One of the major trends expected to contribute to the growth of the Global OEM Premium Audio market is the high growth prospects in the emerging markets. In the coming years, the market is expected to be driven by emerging countries such as China, India, Japan, and Brazil, while the developed nations are expected to witness a decrease in sales of premium audio systems.
According to the report, the primary factor driving the demand for premium audio systems is the improved sound quality. Audio manufacturers consider cars as one of the most difficult environments to achieve pure and improved sound quality. Ongoing developments in the market have contributed to an increased usage of audio systems in cars.
Further, the report states that materials used and the precision it takes to manufacture premium audio systems make them expensive. The high price of audio systems makes it difficult for both audio and automobile manufacturers to make their products available at affordable prices. This lowers the profit margin of both audio manufacturers and OEMs.
- Alpine Electronics
- Bang & Olufsen
- Harman International Industries
Key Topics Covered:
- Executive Summary
- List of Abbreviations
- Scope of the Report
- Market Research Methodology
- Market Landscape
- Geographical Segmentation
- Buying Criteria
- Market Growth Drivers
- Drivers and their Impact
- Market Challenges
- Impact of Drivers and Challenges
- Market Trends
- Trends and their Impact
- Vendor Landscape
- Key Vendor Analysis
For more information visit http://www.researchandmarkets.com/research/5qcn9v/global_oem