The new report published by QY research, titled “Global Premium Audio Market Report, History and Forecast 2014-2025”, provides detailed information about the factors that will accelerate the growth opportunities for the global premium audio market. An in-depth analysis of the market’s competitive nature and accurate information about the various key manufacturers is mentioned in this report.
As per the report, the global premium audio market will register a robust CAGR of 7.1% throughout the forecast period of 2019-2025. The market is likely to reach US$10.8 bn by 2025 from US$6680 mn in the year 2018.
Global Premium Audio Market: Drivers
The global premium audio market will witness significant growth due to the increasing popularity for in-vehicle entertainment systems over the forecast period. Rapidly shifting inclination of the automotive industry towards systems providing luxury and comfort is one of the key factors augmenting the market growth. Leading manufacturers are increasingly integrating innovative technologies, processors, and microchips with the latest audio systems. Some of the players in automotive entertainment are developing systems, which have the potential to deliver wireless and wired connectivity with the function of a hotspot in the main unit. Such integrated audio systems will provide lucrative growth opportunities for the premium audio market in the coming years.
In addition, some of the premium audio systems have the features of noise cancellation that blocks unwanted noise and vibrations to provide theater-like experience. Furthermore, manufacturers are preparing their models with premium audio systems that enhance the features of sound quality and control, thereby aiding market growth.
Global Premium Audio Market: Segment Analysis
The market is segmented into end-users and product type. The end-users segment includes home theater, car use, and others. The product type segment includes above 1000 watt, 400-1000 watt, and below 400 watt.
Global Premium Audio Market: Forecast by Geography
Asia Pacific premium audio market is expected to gain lucrative growth opportunities growing population with increasing disposable income. North America is also showing significant growth in the premium audio market because of innovative technologies. Analysts predict, Europe too will witness a remarkable growth rate as the sale of luxury vehicles soars in this region.
Global Premium Audio Market: Leading Players
The major companies operating in the global premium audio market are Meridian Audio, Panasonic, Bang & Olufsen, Bose, Dynaudio, Sony, McIntosh Laboratory, Harman International Industries, Focal-JMLab, Pioneer, Rockford, Alpine Electronics, Sound United, JVC Kenwood, Clarion, and Bowers & Wilkins.
Global Premium Audio Market: Competitive Landscape
Harman International Industries has announced its partnership with JBL Solutions in June 2019 to power the voice interface for the hospitality environments. Companies are adopting strategies such as joint venture and mergers and acquisitions to generate more revenue for their businesses.
Full Report Overview@ https://www.qyresearch.com/index/detail/1063372/global-premium-audio-market