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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

PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
2.1 Preface
2.2 Preface
2.3 Currency conversion rates for US$
PART 03: MARKET LANDSCAPE
Market ecosystem
Market characteristics
Market segmentation analysis
PART 04: MARKET SIZING
Market definition
Market sizing 2018
Market size and forecast 2018-2023
PART 05: FIVE FORCES ANALYSIS
Bargaining power of buyers
Bargaining power of suppliers
Threat of new entrants
Threat of substitutes
Threat of rivalry
Market condition
PART 06: MARKET SEGMENTATION BY APPLICATION
Market segmentation by application
Comparison by application
Luxury segment vehicles - Market size and forecast 2018-2023
Mid-segment vehicles - Market size and forecast 2018-2023
Market opportunity by application
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
Geographic segmentation
Geographic comparison
APAC - Market size and forecast 2018-2023
Europe - Market size and forecast 2018-2023
North America - Market size and forecast 2018-2023
South America - Market size and forecast 2018-2023
MEA - Market size and forecast 2018-2023
Key leading countries
Market opportunity
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
Market drivers
Market challenges
PART 11: 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
PART 12: VENDOR LANDSCAPE
Overview
Landscape disruption
Competitive scenario
PART 13: VENDOR ANALYSIS
Vendors covered
Vendor classification
Market positioning of vendors
Bang & Olufsen
Bose
Bowers & Wilkins
Burmester Audiosysteme
HARMAN International
MERIDIAN AUDIO
PART 14: APPENDIX
Research methodology
List of abbreviations
PART 15: EXPLORE TECHNAVIO
Exhibit 01: Global automotive electronics market
Exhibit 02: Segments of global automotive electronics market
Exhibit 03: Market characteristics
Exhibit 04: Market segments
Exhibit 05: Market definition - Inclusions and exclusions checklist
Exhibit 06: Market size 2018
Exhibit 07: Global market: Size and forecast 2018-2023 ($ billions)
Exhibit 08: Global market: Year-over-year growth 2019-2023 (%)
Exhibit 09: Five forces analysis 2018
Exhibit 10: Five forces analysis 2023
Exhibit 11: Bargaining power of buyers
Exhibit 12: Bargaining power of suppliers
Exhibit 13: Threat of new entrants
Exhibit 14: Threat of substitutes
Exhibit 15: Threat of rivalry
Exhibit 16: Market condition - Five forces 2018
Exhibit 17: Application - Market share 2018-2023 (%)
Exhibit 18: Comparison by application
Exhibit 19: Luxury segment vehicles - Market size and forecast 2018-2023 ($ billions)
Exhibit 20: Luxury segment vehicles - Year-over-year growth 2019-2023 (%)
Exhibit 21: Mid-segment vehicles - Market size and forecast 2018-2023 ($ billions)
Exhibit 22: Mid-segment vehicles - Year-over-year growth 2019-2023 (%)
Exhibit 23: Market opportunity by application
Exhibit 24: Customer landscape
Exhibit 25: Market share by geography 2018-2023 (%)
Exhibit 26: Geographic comparison
Exhibit 27: APAC - Market size and forecast 2018-2023 ($ billions)
Exhibit 28: APAC - Year-over-year growth 2019-2023 (%)
Exhibit 29: Europe - Market size and forecast 2018-2023 ($ billions)
Exhibit 30: Europe - Year-over-year growth 2019-2023 (%)
Exhibit 31: North America - Market size and forecast 2018-2023 ($ billions)
Exhibit 32: North America - Year-over-year growth 2019-2023 (%)
Exhibit 33: South America - Market size and forecast 2018-2023 ($ billions)
Exhibit 34: South America - Year-over-year growth 2019-2023 (%)
Exhibit 35: MEA - Market size and forecast 2018-2023 ($ billions)
Exhibit 36: MEA - Year-over-year growth 2019-2023 (%)
Exhibit 37: Key leading countries
Exhibit 38: Market opportunity
Exhibit 39: Impact of drivers and challenges
Exhibit 40: Vendor landscape
Exhibit 41: Landscape disruption
Exhibit 42: Vendors covered
Exhibit 43: Vendor classification
Exhibit 44: Market positioning of vendors
Exhibit 45: Bang & Olufsen - Vendor overview
Exhibit 46: Bang & Olufsen - Business segments
Exhibit 47: Bang & Olufsen - Organizational developments
Exhibit 48: Bang & Olufsen - Geographic focus
Exhibit 49: Bang & Olufsen - Segment focus
Exhibit 50: Bang & Olufsen - Key offerings
Exhibit 51: Bose - Vendor overview
Exhibit 52: Bose - Business segments
Exhibit 53: Bose - Organizational developments
Exhibit 54: Bose - Key offerings
Exhibit 55: Bowers & Wilkins - Vendor overview
Exhibit 56: Bowers & Wilkins - Product segments
Exhibit 57: Bowers & Wilkins - Organizational developments
Exhibit 58: Bowers & Wilkins - Key offerings
Exhibit 59: Burmester Audiosysteme - Vendor overview
Exhibit 60: Burmester Audiosysteme - Business segments
Exhibit 61: Burmester Audiosysteme - Organizational developments
Exhibit 62: Burmester Audiosysteme - Key offerings
Exhibit 63: HARMAN International - Vendor overview
Exhibit 64: HARMAN International - Business segments
Exhibit 65: HARMAN International - Organizational developments
Exhibit 66: HARMAN International - Key offerings
Exhibit 67: MERIDIAN AUDIO - Vendor overview
Exhibit 68: MERIDIAN AUDIO - Product segments
Exhibit 69: MERIDIAN AUDIO - Organizational developments
Exhibit 70: MERIDIAN AUDIO - Key offerings
Exhibit 71: Validation techniques employed for market sizing

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