Authored By: Sarah
30 Apr 2021

Automotive Premium Audio System Market Size to Grow by $ 16.96 bn through 2021-2025  

Technavio research projects the automotive premium audio system market to grow by $ 16.96 bn, accelerating at a CAGR of over 9% till 2025. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking


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Automotive Premium Audio System Market: Key Market Driver

One of the primary factors that will trigger the growth of the automotive premium audio system market size is Improved sound quality and control. This research report provides a comprehensive analysis of all the factors that are likely to propel market growth, taking into account the market trends as well as challenges that are likely to impede growth. The objective of this research report is to equip clients with actionable insights that will help them leverage opportunities and formulate growth strategies for their business.

Automotive Premium Audio System Market Size to Grow by Nearly $ 17 Billion During 2021-2025 | COVID-19 Impact Analysis in Q1 2021

Automotive Premium Audio System Market: Vendor Analysis

The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Alpine Electronics Inc., B & W Group Ltd., Bang & Olufsen Group, Bose Corp., Burmester Audiosysteme GmbH, Koninklijke Philips NV, Panasonic Corp., Pioneer Corp., Sony Corp., and Stillwater Designs and Audio Inc. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

Technavio also offers custom research reports with detailed insights assessing the market from a global as well as regional perspective. This customized report will help clients keep up with new product launches in direct & indirect or related markets. It will also provide insights on upcoming developments along with a pipeline analysis of vendor operations and the impact of government regulations.

For more insights on this market: Download a Free Sample Report

 

The automotive premium audio system market size has the potential to grow by USD 16.96 billion during 2021-2025, and the market’s growth momentum will accelerate during the forecast period. 

This report provides a detailed analysis of the market by application (luxury cars and mid-segment cars) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Alpine Electronics Inc., B & W Group Ltd., Bang & Olufsen Group, Bose Corp., Burmester Audiosysteme GmbH, Koninklijke Philips NV, Panasonic Corp., Pioneer Corp., Sony Corp., and Stillwater Designs and Audio Inc.

Do you need more insights on this market?  Click here to Receive your FREE Sample Report

APAC to lead market growth during the forecast period

  • APAC will offer several growth opportunities to market vendors during the forecast period. The development of new in-car audio entertainment to give 360-degree listening will significantly influence the automotive premium audio system market growth in this region.
  • 33% of the market growth will originate from APAC during the forecast period. China and Japan are the key markets for automotive premium audio systems in APAC. This report provides an accurate prediction of the contribution of all segments to the growth of the automotive premium audio system market size.
  • Factors such as improved sound quality and control will offer immense growth opportunities. However, the high cost associated with premium audio systems may impede the market growth. 

Automotive Premium Audio System Market Size to Grow by Nearly $ 17 Billion During 2021-2025 | COVID-19 Impact Analysis in Q1 2021

Automotive Premium Audio System Market: Key Competitors

The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Alpine Electronics Inc., B & W Group Ltd., Bang & Olufsen Group, Bose Corp., Burmester Audiosysteme GmbH, Koninklijke Philips NV, Panasonic Corp., Pioneer Corp., Sony Corp., and Stillwater Designs and Audio Inc. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19 Download a Free Sample Report 

Automotive Premium Audio System Markets: Key Highlights of the Report for 2021-2025

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive Automotive Premium Audio System Market growth during the next five years
  • Precise estimation of the automotive premium audio system market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the industry across Europe, North America, APAC, South America, and MEA
  • A thorough 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
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