Global Automotive OEM Premium Audio Market 2019-2023

Global Automotive OEM Premium Audio Market 2019-2023

About this market

The global luxury vehicle market is witnessing growth in popularity and their demand year-on-year, which has accelerated the sales volume of premium or luxury vehicles. Luxury vehicles find a high penetration rate of advanced comfort and convenience functionalities, which also increases their value proposition. The growth in volume sales of vehicles from such luxury automakers is indicative of the growing market for OEM premium audio systems. This growth is attributable to most of these vehicles being offered with premium audio systems as part of in-car entertainment packages either as standard or optional fitment. Technavio’s analysts have predicted that the automotive OEM premium audio market will register a CAGR of over 5% by 2023.

Market Overview

Growing demand for differentiated in-car experiences

The world automotive industry is experiencing a rapid change in dynamics whether it is from buyers end or the supplier’s perspective. The advancements in automotive technology and an increasing penetration rate of automotive electronics in vehicles has intensified the competition in the global automotive market highly. This increase in the penetration of advanced automotive technologies and features in lower variants of mid-segment vehicles has invariably led to high consumer expectations.

Advanced audio system may result in cognitive distraction

The advanced in-car audio systems feature numerous functionalities that can be controlled through voice commands as well. However, this has increased the risk of driver distraction. Automotive experts have found that such systems are increasingly resulting in cognitive distraction, which has a negative impact on driving performance. Therefore, these factors may impede the growth of the global automotive OEM premium audio market during the forecast period.

For the detailed list of factors that will drive and challenge the growth of the automotive OEM premium audio market during the 2019-2023, view our report.

Competitive Landscape

The market appears to be moderately fragmented and with the presence of several vendors. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.


PRESS RELEASE

Technavio Announces the Publication of its Research Report – Global Automotive OEM Premium Audio Market 2019-2023

Technavio recognizes the following companies as the key players in the global automotive OEM premium audio market: Bang & Olufsen, Bose, Bowers & Wilkins, Burmester Audiosysteme, HARMAN International, MERIDIAN AUDIO.

Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the developments in the field of advanced automotive sound systems.

According to the report, one of the major drivers for this market is the superior surround experience driving its penetration.

Further, the report states that one of the major factors hindering the growth of this market is the optional premium audio system are quite expensive as package.

Companies Mentioned

Bang & Olufsen

Bose

Bowers & Wilkins

Burmester Audiosysteme

HARMAN International

MERIDIAN AUDIO

  • Executive summary
  • Scope of the report
    • Preface
    • Currency conversion rates for US$
  • Market landscape
    • Market ecosystem
      • Table Global automotive electronics market
      • Table Segments of global automotive electronics market
    • Market characteristics
      • Table Market characteristics
    • Market segmentation analysis
      • Table Market segments
  • Market sizing
    • Market definition
      • Table Market definition - Inclusions and exclusions checklist
    • Market sizing 2018
      • Table Market size 2018
    • Market size and forecast 2018-2023
      • Table Global market: Size and forecast 2018-2023 ($ billions)
      • Table Global market: Year-over-year growth 2019-2023 (%)
  • Five forces analysis
    • Table Five forces analysis 2018
    • Table Five forces analysis 2023
    • Bargaining power of buyers
      • Table Bargaining power of buyers
    • Bargaining power of suppliers
      • Table Bargaining power of suppliers
    • Threat of new entrants
      • Table Threat of new entrants
    • Threat of substitutes
      • Table Threat of substitutes
    • Threat of rivalry
      • Table Threat of rivalry
    • Market condition
      • Table Market condition - Five forces 2018
  • Market segmentation by application
    • Table Application - Market share 2018-2023 (%)
    • Comparison by application
      • Table Comparison by application
    • Luxury segment vehicles - Market size and forecast 2018- 2023
      • Table Luxury segment vehicles - Market size and forecast 2018-2023 ($ billions)
      • Table Luxury segment vehicles - Year-over-year growth 2019-2023 (%)
    • Mid-segment vehicles - Market size and forecast 2018-2023
      • Table Mid-segment vehicles - Market size and forecast 2018-2023 ($ billions)
      • Table Mid-segment vehicles - Year-over-year growth 2019-2023 (%)
    • Market opportunity by application
      • Table Market opportunity by application
  • Customer landscape
    • Table Customer landscape
  • Geographic landscape
    • Geographic segmentation
      • Table Market share by geography 2018-2023 (%)
    • Geographic comparison
      • Table Geographic comparison
    • APAC - Market size and forecast 2018-2023
      • Table APAC - Market size and forecast 2018-2023 ($ billions)
      • Table APAC - Year-over-year growth 2019-2023 (%)
    • Europe - Market size and forecast 2018-2023
      • Table Europe - Market size and forecast 2018-2023 ($ billions)
      • Table Europe - Year-over-year growth 2019-2023 (%)
    • North America - Market size and forecast 2018-2023
      • Table North America - Market size and forecast 2018-2023 ($ billions)
      • Table North America - Year-over-year growth 2019-2023 (%)
    • South America - Market size and forecast 2018-2023
      • Table South America - Market size and forecast 2018-2023 ($ billions)
      • Table South America - Year-over-year growth 2019-2023 (%)
    • MEA - Market size and forecast 2018-2023
      • Table MEA - Market size and forecast 2018-2023 ($ billions)
      • Table MEA - Year-over-year growth 2019-2023 (%)
    • Key leading countries
      • Table Key leading countries
    • Market opportunity
      • Table Market opportunity
  • Decision framework
  • Drivers and challenges
    • Market drivers
    • Market challenges
      • Table Impact of drivers and challenges
  • Market trends
    • Developments in the field of advanced automotive sound systems
    • Over-the-air (OTA) updates for advanced in-car infotainment systems
    • Development of headrest integrated speakers and noise canceling headphones for in-car applications
  • Vendor landscape
    • Overview
      • Table Vendor landscape
    • Landscape disruption
      • Table Landscape disruption
    • Competitive scenario
  • Vendor analysis
    • Vendors covered
      • Table Vendors covered
    • Vendor classification
      • Table Vendor classification
    • Market positioning of vendors
      • Table Market positioning of vendors
    • Bang & Olufsen
      • Table Bang & Olufsen - Vendor overview
      • Table Bang & Olufsen - Business segments
      • Table Bang & Olufsen - Organizational developments
      • Table Bang & Olufsen - Geographic focus
      • Table Bang & Olufsen - Segment focus
      • Table Bang & Olufsen - Key offerings
    • Bose
      • Table Bose - Vendor overview
      • Table Bose - Business segments
      • Table Bose - Organizational developments
      • Table Bose - Key offerings
    • Bowers & Wilkins
      • Table Bowers & Wilkins - Vendor overview
      • Table Bowers & Wilkins - Product segments
      • Table Bowers & Wilkins - Organizational developments
      • Table Bowers & Wilkins - Key offerings
    • Burmester Audiosysteme
      • Table Burmester Audiosysteme - Vendor overview
      • Table Burmester Audiosysteme - Business segments
      • Table Burmester Audiosysteme - Organizational developments
      • Table Burmester Audiosysteme - Key offerings
    • HARMAN International
      • Table HARMAN International - Vendor overview
      • Table HARMAN International - Business segments
      • Table HARMAN International - Organizational developments
      • Table HARMAN International - Key offerings
    • MERIDIAN AUDIO
      • Table MERIDIAN AUDIO - Vendor overview
      • Table MERIDIAN AUDIO - Product segments
      • Table MERIDIAN AUDIO - Organizational developments
      • Table MERIDIAN AUDIO - Key offerings
  • Appendix
    • Research methodology
      • Table Validation techniques employed for market sizing
    • List of abbreviations
  • Explore Technavio

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