LONDON--(BUSINESS WIRE)--Technavio has been monitoring the automotive OEM premium audio market and it is poised to grow by $ 3.82 bn during 2020-2024, progressing at a CAGR of over 2% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Frequently Asked Questions:
What are the major trends in the market?
Over-the-air (OTA) updates for advanced in-car infotainment systems is a major trend driving the growth of the market.
At what rate is the market projected to grow?
The year-over-year growth for 2020 is estimated at -5.12% and the incremental growth of the market is anticipated to be $ 3.82 bn.
Who are the top players in the market?
B & W Group Ltd., Bang & Olufsen Group, Bose Corp., Burmester Audiosysteme GmbH, Faurecia SA, Meridian Audio Ltd., Panasonic Corp., Pioneer Corp., Samsung Electronics Co. Ltd., and Sony Corp., are some of the major market participants.
What is the key market driver?
The rise in HNWI population is one of the major factors driving the market.
How big is the APAC market?
The APAC region will contribute 45% of the market share.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. B & W Group Ltd., Bang & Olufsen Group, Bose Corp., Burmester Audiosysteme GmbH, Faurecia SA, Meridian Audio Ltd., Panasonic Corp., Pioneer Corp., Samsung Electronics Co. Ltd., and Sony Corp. are some of the major market participants. The rise in HNWI population will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Automotive OEM Premium Audio Market 2020-2024: Segmentation
Automotive OEM Premium Audio Market is segmented as below:
- Luxury Vehicles
- Mid-size Vehicles
- North America
- South America
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Automotive OEM Premium Audio Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The automotive OEM premium audio market report covers the following areas:
- Automotive OEM Premium Audio Market Size
- Automotive OEM Premium Audio Market Trends
- Automotive OEM Premium Audio Market Industry Analysis
This study identifies over-the-air (OTA) updates for advanced in-car infotainment systems as one of the prime reasons driving the automotive OEM premium audio market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Automotive OEM Premium Audio Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist automotive OEM premium audio market growth during the next five years
- Estimation of the automotive OEM premium audio market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the automotive OEM premium audio market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of automotive OEM premium audio market vendors
Table of Contents:
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019-2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Application
- Market segments
- Comparison by Application
- Luxury vehicles - Market size and forecast 2019-2024
- Mid-size vehicles - Market size and forecast 2019-2024
- Market opportunity by Application
- Geographic segmentation
- Geographic comparison
- Europe - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- B & W Group Ltd.
- Bang & Olufsen Group
- Bose Corp.
- Burmester Audiosysteme GmbH
- Faurecia SA
- Meridian Audio Ltd.
- Panasonic Corp.
- Pioneer Corp.
- Samsung Electronics Co. Ltd.
- Sony Corp.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
List of abbreviations
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