LONDON--(BUSINESS WIRE)--Technavio has been monitoring the global automotive premium audio system market, operating under the consumer discretionary. The latest report on the automotive premium audio system market, 2020-2024 estimates it to register an incremental growth of USD 13.86 billion, at a CAGR of over 6% 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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The market is concentrated, and the degree of concentration will accelerate during the forecast period. Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also have to leverage on the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Alpine Electronics Inc., B&W Group Ltd., Bang & Olufsen AS, Bose Corp., Burmester Audiosysteme GmbH, Dirac Research AB, Koninklijke Philips NV, Panasonic Corp., Sony Corp., and Stillwater Designs are among some of the major market participants.
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Improved sound quality and control has been instrumental in driving the growth of the market. However, the high cost associated with premium audio systems might hamper the market growth.
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Automotive Premium Audio System Market 2020-2024: Segmentation
Automotive Premium Audio System Market is segmented as below:
- Luxury Cars
- Mid-size Passenger Cars
- North America
- South America
Based on geographic segmentation, over 62% of the market growth originated from APAC during the forecast period. In addition, luxury cars led the growth under the application segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the market size.
Automotive Premium Audio System 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 premium audio system market report covers the following areas:
- Automotive Premium Audio System Market Size
- Automotive Premium Audio System Market Trends
- Automotive Premium Audio System Market Industry Analysis
This study identifies the development of a speaker-less automotive audio system as one of the prime reasons driving the Automotive Premium Audio System 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 Premium Audio System Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist automotive premium audio system market growth during the next five years
- Estimation of the automotive premium audio system market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the automotive premium audio system market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of automotive premium audio system market vendors
Table of Contents:
- Market ecosystem
- 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 cars - Market size and forecast 2019-2024
- Mid-size passenger cars - Market size and forecast 2019-2024
- Market opportunity by Application
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Volume driver - Demand led growth
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Alpine Electronics Inc.
- B&W Group Ltd.
- Bang & Olufsen AS
- Bose Corp.
- Burmester Audiosysteme GmbH
- Dirac Research AB
- Koninklijke Philips NV
- Panasonic Corp.
- Sony Corp.
- Stillwater Designs
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.