The global automotive premium audio system market is expected to post a
CAGR of nearly 6% during the period 2018-2022, according to the
latest market research report by Technavio.
However, the growth momentum of the market is expected to decelerate due
to a decline in the year-over-year growth.
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Technavio has published a new market research report on the global automotive premium audio system market from 2018-2022. (Graphic: Business Wire)
A key factor driving the growth of the market is improved sound quality
and control. Time spent in passenger cars by consumers is increasing due
to traffic congestion and increase in daily work commute by personal
vehicles. Hence, audio systems have become important equipment for
drivers and occupants for in-car entertainment. Premium audio systems
are designed to create superior sound quality and performance that are
desirable by customers.
This market research report on the global
automotive premium audio system market 2018-2022 also provides
an analysis of the most important trends expected to impact the market
outlook during the forecast period. Technavio classifies an emerging
trend as a major factor that has the potential to significantly impact
the market and contribute to its growth or decline.
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market snapshot before purchasing
In this report, Technavio highlights the development of new in-car audio
entertainment to give 360-degree listening as one of the key emerging
trends in the global automotive premium audio system market:
Global automotive premium audio system market:
Development of new in-car audio entertainment to give 360-degree
listening
Automotive entertainment system evolved tremendously in the past decades
with the emergence of the digital music revolution in the 2000s. with a
music control system, drivers can use voice commands to control
in-vehicle audio and select music from playlists. All these developments
have made in-car audio entertainment more personalized.
“The latest development in the pace is by SiriusXM, which
collaborated with FCA US to develop SiriusXM’s next generation of in-car
audio entertainment with 360L that delivers a personalized listening
experience with more variety, smart content recommendations, and
on-demand audio. This is the platform to deliver a 360-degree listening
experience to occupants vis both satellite and streaming,” says a
senior analyst at Technavio for research on automotive electronics.
Global automotive premium audio system market:
Segmentation analysis
This market research report segments the global automotive premium audio
system market by application (luxury cars and mid-size passenger cars)
and geographical regions (APAC, EMEA, and the Americas).
The luxury cars segment held the largest market share in 2017,
accounting for nearly 51% of the market. However, by 2022, the mid-size
passenger cars segment is expected to surpass the luxury cars segment to
become the leading segment in the market.
The Americas led the market in 2017 with a market share of nearly 37% of
the market share. The market share occupied by this region is
anticipated to decrease by nearly 5% during 2018-2022.
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Some of the key topics covered in the report include:
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation
Geographical Segmentation
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
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View source version on businesswire.com: https://www.businesswire.com/news/home/20180801005525/en/