Techno World Automotive-Premium-Audio-System-Market | Page 2

on Artificial Intelligence technology are also expected to boost the market growth. 360
degree speakers such as Harman Control 80 Series Landscape Loudspeakers provide
excellent full-range sound quality and 360-degree coverage. This sound system block
surrounding noise to deliver high-quality. Moreover, this premium audio system can be
voice-controlled. Therefore, these factors are expected to propel growth of the
automotive premium audio system market.
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Key Trends and Analysis of the Global Automotive Premium Audio System
Market:
 The automotive premium audio system market in Europe is expected to witness
significant growth over the forecast period. This is owing to increasing sales of
passenger cars, especially in countries such as Germany and the U.K. For instance,
according to OICA, in 2016, around 3,351,607 units of passenger cars were sold in
Germany, which increased to 3,442,100 units in 2017.
 Asia Pacific is expected to be the fastest growing market in the automotive
premium audio system market over the forecast period. Increasing production of
vehicles and high demand for electric vehicles in economies such as China and
Japan are expected to drive growth of the market in Asia Pacific. According to the
International Energy Agency’s Global EV Outlook, China led the electric vehicles
market in 2016, accounting for sales of over 40% of the electric cars worldwide.
Therefore, increasing sales of electric vehicles is expected to propel demand for
automotive premium audio system, thereby boosting the market growth over the
forecast period.
Major players operating in the global automotive premium audio system market include,
Bose Corporation, Bowers & Wilkins, Harman International Industries, Inc., Klipsch Audio
Technologies, Bang & Olufsen, Alpine Electronics, Inc., Sonos, Onkyo Corporation,
Panasonic Automotive System, Blaupunkt GmbH, and QSC, LLC.
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