LONDON--(BUSINESS WIRE)--Technavio has been monitoring the automotive premium audio system market and it is poised to grow by USD 13.86 bn during 2020-2024, progressing 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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Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the automotive premium audio system market. The market growth in 2020 is likely to increase compared to the market growth in 2019.
Frequently Asked Questions:
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What are the major trends in the market?
The development of a speaker-less automotive audio system is a major trend driving the growth of the market. -
At what rate is the market projected to grow?
The market will accelerate at a CAGR of over 6% and the incremental growth of the market is anticipated to be $ 13.86 bn. -
Who are the top players in the market?
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 some of the major market participants. -
What is the key market driver?
The improved sound quality and control is one of the major factors driving the market -
How big is the APAC market?
The APAC region will contribute to 62% of the market share
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The market is concentrated, and the degree of concentration will accelerate during the forecast period. 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 some of the major market participants. The improved sound quality and control will offer immense growth opportunities. In a bid to help players strengthen their market foothold, this automotive premium audio system market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Automotive Premium Audio System Market 2020-2024: Segmentation
Automotive Premium Audio System Market is segmented as below:
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Application
- Luxury Cars
- Mid-size Passenger Cars
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Geography
- APAC
- North America
- Europe
- MEA
- South America
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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 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:
Executive Summary
Market Landscape
- Market ecosystem
Market Sizing
- 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
Customer landscape
Geographic Landscape
- 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
- Overview
- Vendor landscape
- Landscape disruption
Vendor Analysis
- 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
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
-
List of abbreviations
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